Shimmick Corporation awarded four contracts totaling $156 million, focusing on infrastructure projects in California.
Quiver AI Summary
Shimmick Corporation, a leader in infrastructure solutions, has been selected as the preferred bidder for four new contracts totaling approximately $156 million, with $47 million dedicated to electrical work. These projects, set to begin in the third quarter of 2025, include significant upgrades to water and wastewater systems in California. CEO Ural Yal emphasized the company’s commitment to delivering essential infrastructure solutions that enhance resilience and reliability. The projects encompass the River Trunk Realignment in Modesto, power distribution improvements for the Orange County Sanitation District, an auxiliary pump station for Reclamation District 1001, and rehabilitation at the Perris Valley Regional Water Reclamation Facility. Shimmick aims to leverage these opportunities to expand its presence in the water and electrical infrastructure markets.
Potential Positives
- Shimmick Corporation has been selected as the preferred bidder on four significant contracts totaling approximately $156 million, indicating strong market demand and client confidence in the company's capabilities.
- The projects highlight Shimmick's integrated delivery solutions across civil, mechanical, and electrical disciplines, reinforcing its positioning as a leader in complex infrastructure solutions.
- These contracts are aligned with Shimmick's growth strategy in the water and electrical infrastructure markets, which supports the company's long-term objectives and operational expansion.
- The firm’s involvement in vital infrastructure projects, such as wastewater system upgrades and power distribution improvements, emphasizes its commitment to enhancing essential services in California, promoting community well-being and sustainability.
Potential Negatives
- The total value of contracts awarded is $156 million, which may indicate limited growth potential compared to competitors with larger project portfolios.
- The press release lacks specific details regarding the financial impact of these contracts on Shimmick's overall revenue, which could raise concerns among investors about financial transparency.
- The projects are centered in California, presenting potential risks related to regional economic fluctuations or regulatory changes that could impact infrastructure spending.
FAQ
What recent contracts has Shimmick Corporation been awarded?
Shimmick has been selected as the preferred bidder on four contracts totaling approximately $156 million.
How much electrical work is included in the new contracts?
The new contracts include $47 million in electrical work for various projects.
What types of infrastructure projects is Shimmick focusing on?
Shimmick is focusing on water and electrical infrastructure projects for 2025 and beyond.
What is the River Trunk Realignment project about?
This project includes upgrading wastewater infrastructure and rerouting sanitary sewer flows in Modesto, CA.
Who can I contact for media inquiries about Shimmick?
Media inquiries can be directed to Tonya Sandman, Director of Marketing & Communications, at [email protected].
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SHIM Insider Trading Activity
$SHIM insiders have traded $SHIM stock on the open market 93 times in the past 6 months. Of those trades, 0 have been purchases and 93 have been sales.
Here’s a breakdown of recent trading of $SHIM stock by insiders over the last 6 months:
- MITCHELL B. GOLDSTEEN has made 0 purchases and 89 sales selling 289,066 shares for an estimated $518,483.
- CAROLYN TRABUCO has made 0 purchases and 4 sales selling 12,732 shares for an estimated $21,372.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SHIM Hedge Fund Activity
We have seen 8 institutional investors add shares of $SHIM stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GILDER GAGNON HOWE & CO LLC removed 35,547 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $63,984
- CITADEL ADVISORS LLC removed 27,596 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $49,672
- PACIFIC RIDGE CAPITAL PARTNERS, LLC removed 17,446 shares (-3.6%) from their portfolio in Q1 2025, for an estimated $31,402
- LPL FINANCIAL LLC added 15,101 shares (+13.8%) to their portfolio in Q1 2025, for an estimated $27,181
- GOLDMAN SACHS GROUP INC removed 12,814 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $23,065
- HRT FINANCIAL LP removed 12,756 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $22,960
- E&G ADVISORS, LP removed 10,600 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $19,080
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
IRVINE, Calif., July 31, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, has been selected as preferred bidder on four new contracts for new and existing clients, totaling approximately $156 million, with electrical work representing $47 million of this total. The projects are expected to be awarded and commence in the third quarter and reflect the growing demand for Shimmick’s integrated delivery solutions, which include civil, mechanical, and electrical self-perform capabilities.
“These projects underscore the confidence our clients continue to place in Shimmick’s ability to deliver complex infrastructure solutions,” said Ural Yal, CEO of Shimmick. “From water and wastewater resilience to power reliability, we’re proud to deliver the solutions that modernize and safeguard California’s essential infrastructure systems. These new projects are well aligned with our strategy for growth in the water and electrical infrastructure markets in 2025 and beyond. We look forward to partnering with our clients to deliver these important water infrastructure projects”
River Trunk Realignment - River Pump Station, $116 million, Modesto, CA
This project for the City of Modesto is a vital wastewater infrastructure upgrade that will reroute sanitary sewer flows out of the current River Trunk Pipeline between the Gallo Winery property and the Sutter Avenue Primary Treatment Facility (SAPTF). The scope includes construction of a 40 million gallon per day (mgd) pump station and installation of multiple sewer force main gravity lines and a diversion structure.
OC San J-98 Power Distribution System Improvements, $24 million, Huntington Beach, CA
This project for the Orange County Sanitation District will replace, upgrade and modernize electrical distribution systems at two wastewater treatment plants, enhancing systemwide operational safety and reliability. The scope includes switchgear replacement, new SCADA integration, protective relays, arc flash mitigation, and load shedding systems.
RD1001 Auxiliary Pump Station, $8million, Nicolaus, CA
This project for Reclamation District 1001 includes the construction of a dual-level steel-frame pump station along the Natomas Cross Canal North Levee. The scope includes the installation of two vertical turbine pumps with propane-powered units, discharge piping, and concrete vault and outfall structures.
Perris Valley RWRF Aeration Basin Rehabilitation and Diffusers Replacement, $8 million, Perris, CA
This project for the Eastern Municipal Water District includes the rehabilitation and modernization of aeration basins at the Perris Valley Regional Water Reclamation Facility. The scope includes replacement of stainless steel aeration pipelines, installation of new tubular diffusers, actuated valves, flowmeters, and control system upgrades.
About Shimmick
Shimmick Corporation (NASDAQ: SHIM) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resiliency, and sustainable transportation. We integrate technical excellence with collaborative project delivery methods to provide innovative, technology-driven infrastructure solutions that accelerate economic growth and empower communities nationwide. With a track record that spans over a century, Shimmick, and its electrical subsidiary Axia Electric, headquartered in California, unite deep engineering heritage with entrepreneurial spirit to tackle today's most complex infrastructure challenges. For more information, visit
www.shimmick.com
.
Investor Relations Contact:
1-949-704-2350
[email protected]
Media Contact:
Tonya Sandman, Director of Marketing & Communications
[email protected]
