Shimmick Corp (NASDAQ: SHIM)

Shimmick delivers turnkey infrastructure solutions that strengthen the water market and other critical infrastructure sectors such as energy, climate resiliency and sustainable transportation.

The company is headquartered in California and draws on over a century of engineering heritage to undertake complex projects ranging from advanced wastewater recycling and purification systems to dams, locks and transit systems.

Shimmick integrates technical excellence with collaborative project delivery methods to provide innovative technology driven infrastructure solutions that seek to accelerate economic growth and empower communities nationwide.

Its legacy includes the construction operations of Morrison Knudsen and Washington Group International which were consolidated in 2017 by AECOM and later spun off as an independent entity in 2021.

Today Shimmick operates as a publicly traded firm on the Nasdaq Capital Market under the ticker SHIM and continues to build on its historical expertise while pursuing new growth opportunities.

Shimmick generates revenue primarily through construction contracts where it acts as a prime contractor or subcontractor on water, climate resilience, transportation and energy transition projects.

The company self performs a significant portion of its work which helps control costs and schedule risks and improves overall project quality.

As of early 2026 Shimmicks backlog of projects totaled approximately seven hundred ninety three million dollars with most of the work located in California and additional projects in Tennessee Texas Wyoming Idaho Hawaii and Washington.

Approximately ninety six percent of the backlog consists of prime contracts which allows Shimmick to retain greater control over project execution and client relationships.

Revenue is earned from fees charged for design build engineering procurement and construction services provided to both public sector clients such as municipal water districts and federal agencies and private clients including developers utilities and owners of industrial commercial residential sites.

The company pursues various contract structures including fixed price negotiated cost plus and unit price arrangements depending on project risk and client preference.

Shimmick holds a notable position in the United States infrastructure construction market where it is ranked among the top fifteen builders for water supply dams reservoirs and water treatment plants.

According to Engineering News Record in 2025 the company placed twelfth nationally for water supply construction eighth for dams and reservoirs and eleventh for water treatment and desalination plants.

The broader United States construction market is projected to reach approximately two point three trillion dollars in 2026 while the infrastructure construction segment is expected to approach one point five trillion dollars in the same year and grow at a mid single digit rate over the next decade.

Shimmick competes with larger national firms such as Barnard Construction Ames Construction Flatiron Dragados Fluor Corporation Granite Construction Incorporated Kiewit Corporation Skanska USA Inc Traylor Bros Inc and The Walsh Group as well as with smaller regional contractors especially in California.

Competitive advantages stem from the company’s self perform capabilities deep technical expertise strong local market knowledge a solid safety record and an increasing focus on collaborative contracting models that reduce risk and improve outcomes.

Additionally Shimmick has launched Axia Electric a dedicated electrical subsidiary that expands its service offering into low and medium voltage power distribution and commissioning work which captures growth from energy transition and technology driven infrastructure projects.

Shimmick's customer base is predominantly public sector and includes federal agencies municipal water and wastewater districts irrigation districts flood control districts local and regional transit authorities and state county and city public works departments.

These public sector clients rely on Shimmick to deliver essential infrastructure such as drinking water treatment facilities wastewater recycling plants flood control levees pump stations mass transit systems and bridges.

The company also serves private clients such as developers utilities and owners of industrial commercial and residential sites who seek expertise in site preparation utility installation and sustainable building practices.

Throughout its history Shimmick has maintained a strong presence in California where more than half of its revenue was generated in 2025 reflecting the states large construction market and the firms deep relationships with local public agencies.

By focusing on both public and private sector opportunities Shimmick diversifies its revenue streams while leveraging its reputation for reliable execution and technical proficiency.