Shimmick Corporation Announces Third Quarter 2024 Results [Yahoo! Finance]
Shimmick Corporation (SHIM)
Company Research
Source: Yahoo! Finance
Third Quarter 2024 and Recent Highlights Settlement in the Company's Golden Gate Bridge ("GGB") Project which will result in $97 million of cash collected before the end of 2024 and is the last major outstanding legal claim related to its Legacy Projects. Announced the hiring of Ural Yal as Chief Executive Officer to replace Steve Richards who is retiring after a 43-year career. Reported revenue of $166 million, which includes $101 million of Shimmick Project revenue. Reported Shimmick Project gross margin of 6% for the quarter, the highest gross margin reported year-to-date. Recognized a net loss of $2 million and Adjusted EBITDA of $30 million. Backlog is over $834 million as of September 27, 2024, with over 85% being Shimmick Projects. Continued to execute on Transformation Plan. Golden Gate Bridge Project Settlement: As previously announced, the settlement between a consolidating joint venture of the Company, Shimmick/Danny's Joint Venture ("SDJV") and the Golde
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SHIM
Earnings
- 11/12/24 - Beat
SHIM
Sec Filings
- 12/4/24 - Form 4
- 12/3/24 - Form 144
- 12/2/24 - Form 4
- SHIM's page on the SEC website