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Shimmick Corporation - $SHIM STOCK NEWS

Welcome to our dedicated page for Shimmick Corporation news (Ticker: $SHIM), a resource for investors and traders seeking the latest updates and insights on Shimmick Corporation stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Shimmick Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Shimmick Corporation's position in the market.

News
Shimmick Corporation Announces Fourth Quarter and Fiscal Year 2023 Results
Rhea-AI Summary
Shimmick Corp. (NASDAQ: SHIM) reported revenue of $633 million for fiscal year 2023, a 24% increase from 2022. The company's backlog stood at approximately $1.1 billion with a key $200+ million project win. Shimmick Projects saw a 24% growth and a gross margin of 7%. The company's adjusted diluted earnings per common share was $0.48. However, Legacy Projects revenue decreased by $114 million, with negative gross margin due to cost overruns. Shimmick provided guidance for 2024, expecting Shimmick Projects revenue to grow 7 to 13 percent with gross margin between 7 to 13 percent, while Legacy Projects revenue is projected to decrease by 45 to 55 percent with negative gross margin of 5 to 10 percent.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15.29%
Tags
earnings
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News
Shimmick Corporation Announces Fourth Quarter and Fiscal Year 2023 Earnings Release Date and Conference Call
Rhea-AI Summary
Shimmick (SHIM) to Release Q4 and FY 2023 Results on March 28, 2024, with Conference Call Scheduled. Investors can access the call via phone or webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.41%
Tags
earnings
-
News
Shimmick Corp. Announces Third Quarter 2023 Results
Rhea-AI Summary
Shimmick Corp. (Nasdaq: SHIM) reported strong financial results for the third quarter of 2023, with revenue of $175 million, net income of $35 million, and a backlog of $1.2 billion as of September 29, 2023. The company's adjusted net income increased by 70% to $37 million, and adjusted EBITDA grew by 63% to $42 million compared to the prior year quarter. Shimmick's CEO, Steve Richards, highlighted the company's focus on profitable projects and strategic initiatives to drive future growth and increased profitability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.92%
Tags
earnings
News
Shimmick Corporation Appoints Joe Del Guercio to Board of Directors
Rhea-AI Summary
Shimmick Corporation (Nasdaq: SHIM) appoints Joe Del Guercio to the Board of Directors, leveraging his 20 years of finance experience to guide the company's growth strategy in the water infrastructure sector.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.06%
Tags
management
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News
Shimmick Corporation Announces Third Quarter 2023 Earnings Release Date and Conference Call
Rhea-AI Summary
Shimmick Corporation (Nasdaq: SHIM) will release its third quarter 2023 results after the market close on Tuesday, December 19, 2023. A conference call will follow at 5:00 p.m. (Eastern Time) on the same day. Interested parties can access the call live over the phone or listen to a simultaneous webcast on the Investor Relations section of the Company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
earnings
-
News
Shimmick Corporation Announces Pricing of Initial Public Offering
Rhea-AI Summary
Shimmick Corporation (SHIM) announced the pricing of its initial public offering of 3,575,000 shares of its common stock at a price to the public of $7 per share. The company granted the underwriters a 30-day option to purchase up to an additional 536,250 shares. The shares are expected to begin trading on the Nasdaq Global Market on November 14, 2023, under the ticker symbol 'SHIM.' The offering is expected to close on November 16, 2023. Shimmick intends to use the net proceeds from the offering to repay outstanding indebtedness and for working capital, general corporate purposes, and potential funding of future acquisitions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Tags
IPO offering
Stock SHIM logo
Shimmick Corporation

Nasdaq:SHIM

SHIM Rankings

#4348 Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

SHIM Stock Data

94.52M
2.75M
92.25%
11.47%
0.15%
Water and Sewer Line and Related Structures Construction
Construction
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United States of America
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