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.
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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.
Market Context
Shimmick's recent offering reactions were -6.27% and -8.19%, providing a cautious historical referen...
Analysis
Shimmick's recent offering reactions were -6.27% and -8.19%, providing a cautious historical reference for this contract announcement. The effective S-3 shelf remains active through July 3, 2028; backlog conversion is the key item to watch.
Key Figures
New project awards:more than $265 millionCoyote Creek project:$124 millionFlood protection improvements:approximately nine miles+5 more
8 metrics
New project awardsmore than $265 millionWater, transportation and energy infrastructure awards
Coyote Creek project$124 millionFlood protection project awarded in Northern California
Flood protection improvementsapproximately nine milesCoyote Creek project scope
Walnut Creek contract$42 millionThird segment of wastewater treatment plant expansion
LA Metro contractsapproximately $160 millionNorth Hollywood to Pasadena Bus Rapid Transit Project
Company contract shareapproximately $80 millionShimmick and Axia Electric share of LA Metro contracts
Preconstruction process15 monthsMSJV work before LA Metro contract awards
UC Berkeley project$20 millionElectrified Heating and Cooling Plant infrastructure project
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.
Pattern Detected
Recent offering announcements were followed by negative reactions, while the prior earnings and leadership announcements also produced negative or limited reactions.
Key Terms
backlog, electrification, joint venture, mechanical piping systems
4 terms
backlogfinancial
"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.
electrificationtechnical
"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 venturefinancial
"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 systemstechnical
"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.
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.
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.
