I'M IN LOVE-- THEY SPECIALIZE IN DAMS. Shimmick Corp (SHIM) Reports Solid Earnings Amidst Strategic Shifts GuruFocus Research Tue, December 19, 2023, 5:58 PM EST In this article: SHIM -0.08% Shimmick Corp (NASDAQ:SHIM) reports a net income of $35 million in Q3 2023, with a significant year-over-year increase. Adjusted EBITDA rose to $42 million, marking a substantial improvement from the previous year. The company's strategic shift towards higher margin projects contributes to a 260 basis point gross margin expansion. Shimmick Corp (NASDAQ:SHIM) maintains a strong backlog valued at $1.2 billion as of September 29, 2023. On December 19, 2023, Shimmick Corp (NASDAQ:SHIM) released its8-K filing, announcing its financial results for the third quarter ended September 29, 2023. The company, a leader in water infrastructure, reported a net income of $35 million, a significant increase from $18 million in the same period in 2022. Diluted earnings per share also saw a notable rise to $1.58, up from $0.82 in the prior year. Financial Performance Overview Shimmick Corp (NASDAQ:SHIM) experienced a slight revenue decrease of 5% year-over-year, totaling $175 million for Q3 2023. This was primarily due to a decrease in revenue from legacy jobs awarded prior to the January 2, 2021 AECOM Sale Transactions. However, the company's strategic shift towards higher margin, lower risk jobs has paid off, with gross margin dollars reaching $17 million, or 10% of revenue, compared to 7% in the same period in 2022. Adjusted net income for the quarter stood at $37 million, a 70% increase from the previous year, while adjusted diluted earnings per common share reached $1.67. Adjusted EBITDA also saw a significant boost, climbing to $42 million, a 63% increase from Q3 2022. The company's backlog remained robust at $1.2 billion as of September 29, 2023. Strategic Initiatives and Market Position CEO Steve Richards expressed satisfaction with the company's performance, attributing the success to Shimmick's ability to self-perform complex water projects and a strategic shift in job-bidding. Richards highlighted the company's transition to higher margin projects, which has been central to its profitability growth. Shimmick has become more profitable, as evidenced by the year-over-year expansion of our gross margin in the third quarter of 260 basis points and increases in adjusted net income to $37 million, or 70%, and adjusted EBITDA to $42 million, or 63%, from the prior year quarter," said Richards. Shimmick Corp (NASDAQ:SHIM) is recognized as a top builder in the water infrastructure sector, with a history of working on significant projects such as the largest wastewater recycling and purification system in California and the Hoover Dam. The company's expertise and strategic focus on high-margin projects position it well for continued growth and profitability.
SHIM Insider Activity 2 insider buys @$7.00 and we are talking 52 week B/O 142,857 142,856 Both exact same amount // bought non open market on 11/15
A red day is inevitable Stoney. Tomorrow? Maybe. The next day? Maybe. I mean what's your point? I asked you earlier to assign some numbers to that call. Like will the SPX drop 40 points? 10? 120? It's pretty obvious we're due for a slight pullback.... what's a correction? I thought your year end target was 4888. So in other words we'll have a normal day at the end of a 10 day run. Brilliant call.
I DON'T LIKE TO THROW OUT NUMBERS UNLESS I HAVE DONE TA WORK! Which I have not this is simply an overbought warning. --Opendoor Technologies just downgraded at BTIG --Archer Daniels price target lowered by $11 at UBS, --Wells Fargo downgrades Salesforce to Equal Weight after outperformance in 2023 ยป 06:24 CRM --Coupang downgraded to Neutral from Buy at UBS --FedEx price target lowered by $20 at Barclays, --Wells Fargo downgrades Zoom Video to Underweight --Wells Fargo downgrades DocuSign to Underweight on lack of clear growth --Costco just downgraded at Northcoast --Cinemark just downgraded at Wells Fargo --Shake Shack initiated with neutral view at HSBC, --Grainger just downgraded at Jefferies --Terex just downgraded at Jefferies, --Heico just downgraded at Morgan Stanley --Wells Fargo gets more bearish on Clear Secure, downgrades shares --Wells Fargo gets more bearish on RingCentral, downgrades shares --Mirati Therapeutics downgraded to Neutral from Buy at Citi
MGNX Revisit)))))))))))))))))))) Hummmmmmmm. You know I tell you guys everything... watch this f*ing MGNX-- I had a real bad feeling inside the moment i sold it... MGNX MacroGenics, Inc. If I get back in it will stop... She's looking up. $7.11 0.42(+6.20%) #15590 Mar 21, 2023 Report Reply Share MacroGenics, Inc. (MGNX) NasdaqGS - NasdaqGS Real Time Price. 9.23+0.55(+6.34%) At close: December 19 04:00PM EST 9.56+0.33(+3.58%)<------------------- Pre-Market:04:56AM EST
That was a bad sell. It is a pleasure to report that the MacroGenics, Inc.(NASDAQ:MGNX) is up 74% in the last quarter. But that doesn't change the fact that the returns over the last three years have been disappointing. In that time, the share price dropped 66%. So the improvement may be a real relief to some. While many would remain nervous, there could be further gains if the business can put its best foot forward.
I was out and about yesterday and didn't follow our gummies. I will take a look at them again this morning...I never got in> Today I favor Blend Labs- Weds Gummy-->Blend Labs, Inc. (BLND) NYSE - NYSE Delayed Price. Currency in USD Follow 2.2800+0.0800(+3.64%) At close: December 19 04:00PM EST 2.4600+0.18(+7.89%)<-------------------- Pre-Market:07:06AM EST
Starting to find some neat construction companies: BDT:CABird Construction Inc. Crazy good chart 0.23(+1.61%)
Bird awarded energy, power, manufacturing, and multi-storey modular contracts worth over $530M SA News Yesterday, 5:17 PM