Shimmick beats top-line estimates; updates FY25 outlook

* Shimmick press release [https://seekingalpha.com/pr/20201928-shimmick-corporation-announces-second-quarter-2025-results] (NASDAQ:SHIM [https://seekingalpha.com/symbol/SHIM]): Q2 Non-GAAP EPS of -$0.14 in-line.
* Revenue of $128M (+40.7% Y/Y) beats by $14.8M.
* Adjusted EBITDA nearly flat at $(234) thousand.
* Reported liquidity of $73 million as of July 4, 2025, an increase of $2 million from first quarter of 2025.
* Backlog is approximately $652 million as of July 4, 2025, with over 88% Shimmick Projects, multiple new awards and contract extensions pending.

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WE ARE UPDATING OUR FULL YEAR 2025 FISCAL YEAR GUIDANCE AND NOW EXPECT:

* Shimmick Projects revenue in the range of $405 million and $415 million VS. CONSENSUS OF $476.10M, up from our initial guidance of $392 million to $410 million, with overall gross margin between 9% and 12%

* Non-Core Projects revenue in the range of $80 million and $90 million, up from our initial guidance of $50 million to $60 million, with overall gross margin between (15%) and (5%)

* Consolidated Adjusted EBITDA between $5 million and $15 million, down from our initial guidance of $15 million to $25 million

MORE ON SHIMMICK

* Shimmick secures $51 million contract for Bellota weir modifications in California [https://seekingalpha.com/news/4469936-shimmick-secures-51-million-contract-for-bellota-weir-modifications-in-california]
* Seeking Alpha’s Quant Rating on Shimmick [https://seekingalpha.com/symbol/SHIM/ratings/quant-ratings]
* Historical earnings data for Shimmick [https://seekingalpha.com/symbol/SHIM/earnings]
* Financial information for Shimmick [https://seekingalpha.com/symbol/SHIM/income-statement]