Shimmick Corporation has been awarded $81.5 million in projects for water and electrical infrastructure in Los Angeles.
Quiver AI Summary
Shimmick Corporation has been selected as the preferred bidder for two infrastructure projects in the Los Angeles area, with a combined value of approximately $81.5 million. These projects involve enhancements to water and electrical infrastructure, highlighting the increasing demand for Shimmick's comprehensive services. The first project, valued at $61.3 million, will upgrade the Berths 49–51 Outer Harbor Cruise Terminal, incorporating shore power systems to reduce emissions and improve terminal operations. The second project, worth $20.2 million, focuses on modifications to the Palmdale Water Reclamation Plant's pumping and electrical systems, aimed at enhancing operational reliability and supporting long-term water services. Construction is set to commence in 2026, following necessary approvals.
Potential Positives
- Shimmick Corporation has been awarded approximately $81.5 million in new projects, indicating strong demand for its infrastructure services in the Los Angeles market.
- The projects focus on critical water and electrical infrastructure, showcasing Shimmick's integrated civil and electrical delivery capabilities and its commitment to sustainability.
- The work on these projects contributes to long-term improvements in community infrastructure, enhancing operational reliability and reducing emissions through shore power initiatives.
Potential Negatives
- None
FAQ
What projects has Shimmick Corporation been awarded in Los Angeles?
Shimmick has been named the preferred bidder on two projects totaling approximately $81.5 million, including water and electrical infrastructure improvements.
What is the value of the projects awarded to Shimmick?
The total value of the awarded projects is approximately $81.5 million.
When is construction expected to begin on the new projects?
Construction on both projects is expected to begin in 2026, after final permitting and preconstruction activities are completed.
What are the key improvements in the Port of Los Angeles project?
This project includes electrical, structural, and civil improvements, such as a new utility station and shore power infrastructure.
How does Shimmick contribute to sustainability in infrastructure?
Shimmick focuses on enhancing sustainability by upgrading aging infrastructure and enabling vessels to connect to shore power, thereby reducing emissions.
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 42 times in the past 6 months. Of those trades, 0 have been purchases and 42 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 42 sales selling 246,308 shares for an estimated $530,691.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SHIM Revenue
$SHIM had revenues of $141.9M in Q3 2026. This is a decrease of -14.52% from the same period in the prior year.
You can track SHIM financials on Quiver Quantitative's SHIM stock page.
$SHIM Hedge Fund Activity
We have seen 8 institutional investors add shares of $SHIM stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SANDERS MORRIS HARRIS LLC added 60,494 shares (+8.1%) to their portfolio in Q3 2025, for an estimated $157,889
- THOMPSON DAVIS & CO., INC. added 55,000 shares (+100.0%) to their portfolio in Q3 2025, for an estimated $143,550
- GEODE CAPITAL MANAGEMENT, LLC added 22,762 shares (+51.7%) to their portfolio in Q3 2025, for an estimated $59,408
- LPL FINANCIAL LLC removed 20,075 shares (-16.4%) from their portfolio in Q3 2025, for an estimated $52,395
- VANGUARD GROUP INC added 16,849 shares (+33.2%) to their portfolio in Q3 2025, for an estimated $43,975
- PACIFIC RIDGE CAPITAL PARTNERS, LLC removed 9,853 shares (-2.1%) from their portfolio in Q3 2025, for an estimated $25,716
- UBS GROUP AG added 4,246 shares (+inf%) to their portfolio in Q3 2025, for an estimated $11,082
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
IRVINE, Calif., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (Nasdaq: SHIM) ("Shimmick" or the "Company"), a national leader in complex infrastructure solutions, has been named the preferred bidder on two projects in the Los Angeles market, totaling approximately $81.5 million in new work. The projects span water and electrical infrastructure and reflect growing demand for Shimmick's integrated civil and electrical delivery capabilities.
"These projects reflect continued investment in essential water and electrical infrastructure that supports long-term resilience," said Ural Yal, Chief Executive Officer of Shimmick. "From advancing shore power to strengthening critical water reclamation facilities, our teams are partnering with public agencies to deliver solutions that improve sustainability and performance while benefiting the communities they serve."
Berths 49–51 Outer Harbor Cruise Terminal Development, $61.3 million, Los Angeles, CA
This project for the Port of Los Angeles (Port) includes significant electrical, structural, and civil improvements to support shore power — also known as Alternative Maritime Power (AMP) — and modern cruise terminal operations. Scope includes construction of a new Los Angeles Department of Water and Power (LADWP) 34.5-kV industrial station, installation of medium-voltage switchgear and shore power infrastructure, concrete wharf repairs, installation of a hybrid fender system, utility upgrades, and site improvements that enhance pedestrian and vehicular access, safety, and security. The project supports long-term sustainability objectives by strengthening aging marine infrastructure and enabling vessels to connect to shore power while docked, significantly reducing emissions.
Palmdale Water Reclamation Plant Influent Pump Station Modifications, $20.2 million, Palmdale, CA
This project for the Los Angeles County Sanitation District (LACSD) includes upgrades to influent pumping and electrical systems, construction of a new utility building, and associated civil improvements. The work will enhance operational reliability, improve system performance, and support long-term water reclamation operations serving the surrounding region.
Construction on both projects is expected to begin in 2026, following completion of final permitting and preconstruction activities.
About Shimmick
Shimmick Corporation (NASDAQ: SHIM) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resilience, 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 spanning over a century, Shimmick, headquartered in California, unites a deep engineering heritage with an entrepreneurial spirit to tackle today's most complex infrastructure challenges. For more information, visit www.shimmick.com .
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