secwatch.observer — SEC 8-K summary
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Issuer:     Shimmick Corp (SHIM)
CIK:        0001887944
Form:       8-K
Filed at:   2023-12-19T23:59:59+00:00
Accession:  0000950170-23-071493
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shimmick Q3 2023: Net income $35M, adjusted EBITDA $42M, backlog $1.2B
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- Revenue $175M (-5% YoY); gross margin expanded 260 bps to 10.0%.
- Diluted EPS $1.58; adjusted diluted EPS $1.67.
- Adjusted net income $37M (+70% YoY); adjusted EBITDA $42M (+63% YoY).
- Backlog $1.2B as of Sept 29, 2023, driven by higher-margin water projects.
- CEO cites successful IPO and improved job-bidding strategy for profitability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1887944/000095017023071493/0000950170-23-071493-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1887944/000095017023071493/shim-20231219.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-071493

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer