The earnings miss and lowered revenue guidance signal near-term headwinds from project timing and Non-Core wind-downs. However, record backlog, 9% sequential Shimmick Projects revenue growth, and reaffirmed EBITDA guidance suggest improvement late in the year. Traders should monitor Q3 for consistent gross margin expansion and conversion of the $221M pending awards into backlog.
Price Chart
Executive Summary
Shimmick reported Q2 2026 revenue of $106.6M (down 17% YoY from $128.4M) and a GAAP diluted loss per share of $(0.12), versus consensus estimates of $-0.02 EPS and $121.8M revenue. The company lowered its full-year 2026 revenue guidance to $525M-$575M (midpoint ~12% YoY growth) while reaffirming Adjusted EBITDA guidance of $15M-$30M. Despite record backlog of ~$991M and a 9% sequential increase in Shimmick Projects revenue, the significant EPS miss and revenue decline weigh on the quarter.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $106.6M vs consensus $121.8M — miss of ~12.5%
- GAAP diluted loss per share $(0.12) vs consensus $(0.02) — miss of $0.10
- Revenue declined 17% YoY ($106.6M vs $128.4M)
- Net loss improved to $(4.8M) from $(8.5M) YoY
- Adjusted EBITDA of $4.4M, fourth consecutive positive quarter
- Record backlog of ~$991M, highest since Q1 2024; book-to-burn ratio 1.4x
- Full-year 2026 revenue guidance lowered to $525M-$575M; EBITDA guidance reaffirmed $15M-$30M
- Shimmick Projects revenue $96M, down 15% YoY but up 9% sequentially from Q1
Financial Impact
Revenue miss of ~$15M vs consensus; EPS miss of $0.10/share; guidance implies ~$550M midpoint vs prior likely higher expectation
Risk Factors
- Non-Core Loss Projects may incur additional costs as they wind down
- Interest expense increased $0.7M YoY due to higher debt balances
- Liquidity declined slightly to $33M from $34M QoQ
- Legal costs and transformation expenses remain elevated
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3342198 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | 8-K | $3.13 | awaiting T+20 | — | $2.28 (−27.32%) |
Aug 10, 2026 11w ago | 8-K | $3.94 $3.47 | ▼ −11.93% | ▼ −10.87% | $2.28 (−42.26%) |
Aug 10, 2026 11w ago | Press Release | $3.94 $3.47 | ▲ +11.93% | ▲ +10.87% | $2.28 (+42.26%) |
May 26, 2026 21w ago | 8-K | $3.59 $4.08 | ▼ −13.65% | ▼ −15.55% | $2.28 (+36.63%) |
May 22, 2026 22w ago | 424B5 | $3.83 $3.54 | ▲ +7.70% | ▲ +5.75% | $2.28 (+40.60%) |
May 22, 2026 22w ago | 424B5 | $3.83 $3.54 | ▼ −7.70% | ▼ −5.75% | $2.28 (−40.60%) |
May 22, 2026 22w ago | Press Release | $3.70 $3.76 | ▼ −1.57% | ▼ −2.98% | $2.28 (+38.51%) |
Mar 12, 2026 32w ago | Press Release | $3.21 $3.91 | ▲ +21.81% | ▲ +18.22% | $2.28 (−29.13%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers