Shimmick Secures More Than $265 Million in Water, Transportation and Energy Infrastructure Awards

Shimmick (NASDAQ: SHIM) announced more than $265 million in new project awards across its Water & Industrial and Energy & Infrastructure businesses, expanding backlog in core growth markets.

Rhea-AI Summary

Shimmick (NASDAQ: SHIM) announced more than $265 million in new project awards across its Water & Industrial and Energy & Infrastructure businesses, expanding backlog in core growth markets.

Key wins include the $124 million Coyote Creek Flood Protection Project in San José, a $42 million segment of the Walnut Creek Wastewater Treatment Plant Expansion in Texas, and participation in LA Metro’s North Hollywood to Pasadena Bus Rapid Transit Project, where Shimmick and Axia Electric’s share totals about $80 million. Axia Electric also secured a $20 million contract for UC Berkeley’s Electrified Heating and Cooling Plant, supporting energy transition and electrification initiatives.

Positive

• New awards exceed $265 million, directly expanding contracted backlog
• Coyote Creek Flood Protection Project adds $124 million in water infrastructure work
• Walnut Creek Wastewater Treatment expansion contributes an additional $42 million
• LA Metro BRT contracts provide approximately $80 million in revenue share to Shimmick and Axia Electric
• UC Berkeley electrified plant project adds a $20 million sustainability-focused award
• Awards diversify backlog across water, transportation, and energy transition markets

Negative

• None.

Argus Jul 27 session 6 alerts

+8.22% close to close 0.4x rel. volume Open Argus

Details

Market reaction after infrastructure contract awards: SHIM +8.22% in the Jul 27 session

+5.7% Peak in 1 hr 38 min

$157.55M Market Cap

In the Jul 27 session, SHIM gained 8.22%, reflecting a notable positive market reaction. Argus tracked a peak move of +5.7% during that session. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +8.2% in the session following this news. News ID 1062504 recorded a -6.27% 24-hour ...

Analysis

The stock moved +8.2% in the session following this news. News ID 1062504 recorded a -6.27% 24-hour reaction after Shimmick's prior offering closing. The awards add contract visibility, while the effective S-3 shelf through July 3, 2028 remains a sourced financing risk.

Key Figures

New project awards: more than $265 million Coyote Creek project: $124 million Flood protection improvements: approximately nine miles +5 more

New project awards

more than $265 million

Water, transportation and energy infrastructure awards

Coyote Creek project

$124 million

Flood protection project awarded in Northern California

Flood protection improvements

approximately nine miles

Coyote Creek project scope

Walnut Creek contract

$42 million

Third segment of wastewater treatment plant expansion

LA Metro contracts

approximately $160 million

North Hollywood to Pasadena Bus Rapid Transit Project

Company contract share

approximately $80 million

Shimmick and Axia Electric share of LA Metro contracts

Preconstruction process

15 months

MSJV work before LA Metro contract awards

UC Berkeley project

$20 million

Electrified Heating and Cooling Plant infrastructure project

Historical Context

5 past events · Latest: May 26

5 events

1. May 26

   Public offering closing

   24h Move

   -6.3%

   Underwritten offering closed with 4,289,500 common shares sold

2. May 22

   Public offering pricing

   24h Move

   -8.2%

   Common-stock offering priced at $3.50 per share

3. May 14

   First-quarter earnings

   24h Move

   -1.0%

   Q1 revenue and backlog were reported alongside a net loss

4. May 04

   Earnings date notice

   24h Move

   +0.2%

   Company scheduled release of first-quarter financial results

5. Apr 28

   Leadership appointment

   24h Move

   -15.4%

   Sarah Tacker appointed executive vice president and chief operating officer

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

backlog, electrification, joint venture, mechanical piping systems

4 terms

backlog financial

"The awards expand the Company's backlog and reinforce its position"

A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.

electrification technical

"spanning flood protection, water treatment, transportation, and electrification"

Electrification is the process of replacing systems that run on fuel or other energy sources with electric-powered ones, such as switching from gasoline engines to electric motors. It matters to investors because it often signals a shift toward cleaner, more sustainable energy use, potentially transforming industries and creating new opportunities for growth and innovation.

joint venture financial

"The work is being delivered by the Myers-Shimmick Joint Venture"

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

mechanical piping systems technical

"installation of process equipment and above-ground mechanical piping systems"

Mechanical piping systems are networks of pipes, valves, pumps and fittings that carry fluids or gases for heating, cooling, plumbing, fire protection, or industrial processes inside buildings and facilities. Think of them as the building’s circulatory system that moves water, steam, refrigerant or process fluids where needed. For investors, these systems affect construction and maintenance costs, operational efficiency, regulatory compliance and safety risk, which can influence a facility’s operating performance and capital spending needs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Recent wins strengthen Shimmick's position across water, transportation, energy, industrial and electrical infrastructure while expanding backlogs in key growth markets

IRVINE, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ: SHIM), a leading infrastructure solutions provider, today announced more than $265 million in new project awards across its Water & Industrial and Energy & Infrastructure businesses. The awards expand the Company's backlog and reinforce its position in critical infrastructure markets, spanning flood protection, water treatment, transportation, and electrification.

"These awards reflect continued demand for the specialized infrastructure solutions Shimmick delivers across our key end markets," said Ural Yal, President and Chief Executive Officer of Shimmick Corporation. "From flood protection and water treatment to transportation and electrification, they demonstrate the strength of our client relationships, the depth of our technical expertise, and the discipline we bring to pursuing complex infrastructure work."

Strengthening Water Infrastructure and Climate Resiliency

In Northern California, the Santa Clara Valley Water District (Valley Water) Board of Directors recently approved the award of the $124 million Coyote Creek Flood Protection Project to Shimmick. Shimmick will construct approximately nine miles of flood protection improvements — including floodwalls, berms, and stormwater infrastructure — designed to reduce flood risk and enhance resilience for surrounding communities in San José.

In Texas, Shimmick was awarded a $42 million contract for a third segment of the Walnut Creek Wastewater Treatment Plant Expansion Project. The scope includes installation of process equipment and above-ground mechanical piping systems supporting chemical facilities, wet-weather filters, a transfer pump station, a post-aeration blower system, and improvements to existing odor control facilities. The award further strengthens Shimmick's presence in one of the nation's fastest-growing water infrastructure markets.

Advancing Sustainable Transportation

In Southern California, Shimmick and its electrical construction subsidiary, Axia Electric, were awarded construction contracts under the Los Angeles County Metropolitan Transportation Authority's (LA Metro) North Hollywood to Pasadena Bus Rapid Transit Project. The work is being delivered by the Myers-Shimmick Joint Venture (MSJV), a partnership between Shimmick and Myers & Sons, under contracts totaling approximately $160 million. Shimmick and Axia Electric's combined share represents approximately $80 million in contract value to the Company. The awards follow a 15-month preconstruction process during which the MSJV team worked collaboratively with LA Metro to develop a cost-effective, high-quality transit solution that will support regional mobility improvements ahead of the 2028 Olympic and Paralympic Games.

Supporting Energy Transition and Electrification

Also in Northern California, Axia Electric was awarded a $20 million project to provide electrical infrastructure, utility relocations, and mechanical, electrical, and plumbing systems for the University of California, Berkeley's Electrified Heating and Cooling Plant. The project supports the university's transition to a modern electrified energy system and reflects growing demand for infrastructure that advances sustainability and decarbonization goals.

Expanding Backlog in Key Growth Markets

Collectively, these awards reflect Shimmick's continued success in securing complex infrastructure projects across attractive end markets. They build on the Company's longstanding expertise in water, transportation, and energy infrastructure while expanding backlog and strengthening the foundation for future growth.

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. The Company integrates 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 more than a century, Shimmick combines deep engineering heritage with an entrepreneurial spirit to solve today's most complex infrastructure challenges. For more information, visit www.shimmick.com.

Investor Relations
IR@shimmick.com
1-949-704-2350

Media Contact
Lee Ann Ballew
LeeAnn.Ballew@shimmick.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What new contracts did Shimmick (NASDAQ: SHIM) announce on July 27, 2026?

Shimmick announced more than $265 million in new project awards across water, transportation, and energy infrastructure. According to Shimmick, these include major flood protection, wastewater treatment, bus rapid transit, and campus electrification projects that expand its contracted backlog in key growth markets.

How large is Shimmick's Coyote Creek Flood Protection Project contract in San Jose?

Shimmick secured a $124 million contract for the Coyote Creek Flood Protection Project in San José. According to Shimmick, the company will build about nine miles of floodwalls, berms, and stormwater infrastructure to reduce flood risk and improve climate resilience for surrounding communities.

What is the value of Shimmick's role in LA Metro's North Hollywood to Pasadena BRT project?

Shimmick and Axia Electric’s combined share in LA Metro’s North Hollywood to Pasadena BRT project is approximately $80 million. According to Shimmick, the Myers-Shimmick Joint Venture will deliver construction under contracts totaling about $160 million after a 15-month preconstruction phase.

How much is Shimmick's Walnut Creek Wastewater Treatment expansion contract worth?

Shimmick was awarded a $42 million contract for a third segment of the Walnut Creek Wastewater Treatment Plant Expansion. According to Shimmick, work includes process equipment, mechanical piping, wet-weather filters, pumping, post-aeration blowers, and odor control improvements in a high-growth water market.

What is Axia Electric's $20 million UC Berkeley project and why is it important?

Axia Electric won a $20 million contract for UC Berkeley’s Electrified Heating and Cooling Plant. According to Shimmick, the scope includes electrical infrastructure, utility relocations, and MEP systems, supporting the university’s transition to a modern electrified energy system and broader decarbonization goals.

How do the new awards impact Shimmick's backlog and growth outlook?

The awards collectively add more than $265 million to Shimmick’s backlog, strengthening its future revenue base. According to Shimmick, these wins reinforce its position in water, transportation, and energy infrastructure and enhance its foundation for growth in attractive end markets.