Q1 2025 Shimmick Corp Earnings Call Transcript

May 14, 2025 / 09:00 PM GMT

Release Date Price: $1.7 (-0.29%)

Transcript 10-Q8-K

Key Points

Positve

Shimmick Corp (SHIM) reported a revenue increase to $122 million in Q1 2025, up from $120 million in the same period last year.
Gross margin improved significantly, with a positive $5 million compared to a negative $1 million in the previous year.
The company has a strong liquidity position with $71 million, providing the capital needed for strategic and operational plans.
Shimmick Corp (SHIM) has a robust proposal pipeline of approximately $2 billion in upcoming bids, indicating potential future growth.
The company is seeing increased bidding activity, particularly in the electrical and technology-driven infrastructure market, which is expected to grow significantly.

Negative

Shimmick Corp (SHIM) reported a net loss of $10 million for Q1 2025, although this is an improvement from a $33 million loss in the prior year.
Legacy projects continue to impact financials negatively, with a gross margin of negative $1 million for these projects.
There is uncertainty in the market due to tariffs and funding streams, which has caused a slowdown in bidding for larger public projects.
The company faces potential long-term challenges from rising prices due to tariffs, which could strain client budgets and lead to project downscaling or cancellations.
Despite improvements, the adjusted EBITDA remains negative at $-3 million, indicating ongoing financial challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SHIM.OQ - Shimmick Corp
Q1 2025 Shimmick Corp Earnings Call
May 14, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon and thank you for joining us today on today's conference call to discuss CIC's first quarter 2025 results. Slides for today's presentation are available on the investor relations section of our website www.chimo.com. During this call, management will make forward-looking statements based on current expectations and assumptions which are subject to risk and uncertainties.

Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect. We identified the principal risk and uncertainties that may affect our performance and our reports and filings with the Securities and Exchange Commission, which can also be found on our investor relations website.

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