Shimmick Corp (NASDAQ: SHIM)

Shimmick delivers turnkey solutions for the water market and other critical infrastructure sectors, including energy, climate resiliency and sustainable transportation. The company integrates technical excellence with collaborative project delivery methods to provide innovative, technology‑driven infrastructure solutions that aim to accelerate economic growth and empower communities nationwide. With over a century of heritage and headquarters in California, Shimmick draws on a deep engineering background to tackle complex water, wastewater, dam, reservoir, transit and energy‑transition projects. Shimmick’s lineage includes the construction operations of Morrison Knudsen and Washington Group International, which were consolidated by AECOM in 2017 and later divested to Shimmick in the 2021 AECOM Sale Transaction. In November 2023 the company completed its initial public offering and its common stock trades on the Nasdaq Capital Market under the ticker SHIM. Shimmick emphasizes safety, environmental stewardship and long‑term value creation in all of its undertakings.

Shimmick generates revenue primarily through construction contracts for water and wastewater treatment facilities, water resources projects such as dams, reservoirs and conveyance systems, and other critical infrastructure works including mass transit, bridges, military installations, climate‑resilience structures and energy‑transition initiatives. The company also earns revenue from its Axia Electric subsidiary, which was launched on June 23, 2025 to provide specialized low‑ and medium‑voltage electrical and power distribution services for public‑ and private‑sector clients. Shimmick performs a significant portion of its work using self‑perform crews, which it states improves cost control, schedule adherence and overall project value. As of January 2, 2026 the firm’s backlog amounted to approximately $793 million, with roughly 96% of that backlog representing prime contracts. The backlog is concentrated in California, with additional projects underway in Tennessee, Texas, Wyoming, Idaho, Hawaii and Washington. Revenue is derived from both public‑sector contracts and private‑sector agreements with developers, utilities and owners of industrial, commercial and residential sites.

Within the competitive U. S. construction landscape, Shimmick positions itself alongside firms such as Barnard Construction Company, Ames Construction Inc., Flatiron Dragados, Fluor Corporation, Granite Construction Incorporated, Kiewit Corporation, Skanska USA Inc., Traylor Bros., Inc. and The Walsh Group. The company’s competitive advantages stem from its strong self‑perform capabilities, deep technical expertise in water and critical‑infrastructure engineering, and extensive local market knowledge, particularly in California where more than half of its 2025 revenue was generated. Shimmick increasingly pursues collaborative contracting models, which allow joint development with clients and lead to improved budget and schedule outcomes. Its safety performance also differentiates the firm; in 2025 Shimmick recorded a 33.3% reduction in lost‑time incident rate compared with 2024, reflecting a continued focus on reducing serious injuries. Additionally, the company’s ability to secure surety bonds from providers such as Liberty Mutual Group and Berkshire Hathaway supports its bidding capacity on large public contracts.

Shimmick’s customer base is predominantly public sector, encompassing federal agencies (both military and civilian), municipal water and wastewater districts, irrigation districts, flood control districts, local and regional transit authorities, and state, county and city public works departments. The company also performs work for private clients such as developers, utilities and owners of industrial, commercial and residential sites. Shimmick operates as both a prime contractor and a subcontractor, with the majority of its backlog consisting of prime contracts. The firm’s longstanding presence in California and its reputation for delivering complex infrastructure projects have helped it maintain durable relationships with a diverse range of governmental and private owners.