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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, DC 20549\n\n \n\nFORM 10-Q\n\n \n\n(Mark One)\n\n \n\n☒\n\n \n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended April 3, 2026\n\nOR\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nCommission File Number: 001-41867\n\n \n\nShimmick Corporation\n\n(Exact Name of Registrant as Specified in its Charter)\n\n \n\n \n\nDelaware\n\n84-3749368\n\n( State or other jurisdiction of\n\nincorporation or organization)\n\n(I.R.S. Employer\nIdentification No.)\n\n530 Technology Drive\n\nSuite 300\n\nIrvine, CA\n\n92618\n\n(Address of principal executive offices)\n\n(Zip Code)\n\nRegistrant’s telephone number, including area code: (833) 723-2021\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\n \n\nTrading\n\nSymbol(s)\n\n \n\nName of each exchange on which registered\n\nCommon Stock, par value $0.01 per share\n\n \n\nSHIM\n\n \n\nNASDAQ\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\nEmerging growth company\n\n \n\n☒\n\n \n\n \n\n \n\n \n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\nAs of May 12, 2026, the registrant had 36,696,660 shares of Common Stock, par value $0.01 per share, outstanding.\n\n \n\n \n\n \n\nFORWARD-LOOKING STATEMENTS\n\n \n\n \n\nWe make forward-looking statements in this Quarterly Report on Form 10-Q (“Form 10-Q”) within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are subject to risks and uncertainties. For these statements, we claim the protections of the safe harbor for forward-looking statements contained in such Sections. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” \"project,\" \"will,\" “should,” “may” or similar expressions, we intend to identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements.\n\n \n\nForward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, important factors included in the sections entitled “Forward Looking Statements” and “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended January 2, 2026 (\"Form 10-K\") and those described from time to time in our future reports with the Securities and Exchange Commission (the \"SEC\") (in addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements) that could have a significant impact on our operations and financial results, and could cause our actual results to differ materially from those contained or implied in forward-looking statements made by us or on our behalf in this Form 10-Q, in presentations, on our websites, in response to questions or otherwise. We believe these factors include, but are not limited to, the following:\n\n \n\n•\nour ability to accurately estimate risks, requirements or costs when we bid on or negotiate a contract,\n\n•\nthe impact of our fixed-price contracts,\n\n•\nqualifying as an eligible bidder for contracts\n\n•\nthe availability of qualified personnel, joint venture partners and subcontractors,\n\n•\ninability to attract and retain qualified managers and skilled employees and the impact of loss of key management,\n\n•\nhigher costs to lease, acquire and maintain equipment necessary for our operations or a decline in the market value of owned equipment,\n\n•\nsubcontractors failing to satisfy their obligations to us or other parties or any inability to maintain subcontractor relationships,\n\n•\nmarketplace competition,\n\n•\nour inability to obtain bonding\n\n•\nour limited operating history as an independent company following our separation from AECOM, our prior owner,\n\n•\nour relationship and transactions with our prior owner,\n\n•\nour prior owner defaulting on its contractual obligations to us or under agreements in which we are beneficiary,\n\n•\nour limited number of customers,\n\n•\nany inability to successfully expand our business into new markets or geographies,\n\n•\ndependence on subcontractors and suppliers of materials,\n\n•\nany inability to secure sufficient aggregates,\n\n•\nan inability to complete a merger or acquisition or to integrate an acquired company’s business,\n\n•\nour ability to expand our capacity related to specialized, high-performance electrical and power distribution\nsolutions,\n\n•\nadjustments in our contract backlog,\n\n•\naccounting for our revenue and costs involves significant estimates, as does our use of the input method of revenue recognition based on costs incurred relative to total expected costs,\n\n•\nmaterial impairments,\n\n2\n\n•\nany failure to comply with covenants under any current indebtedness, and future indebtedness we may incur,\n\n•\nthe adequacy of sources of liquidity,\n\n•\nthe outcome of any legal or regulatory proceedings to which we are, or may become, a party, including our appeal of the USACE’s notice of termination related to the Chickamauga Lock project,\n\n•\nthe effectiveness of our disclosure controls and procedures,\n\n•\ncybersecurity attacks against, disruptions, failures or security breaches of, our information technology systems,\n\n•\nseasonality of our business,\n\n•\ncommodity products price fluctuations, inflation (and actions taken by monetary authorities in response to inflation) and/or elevated interest rates,\n\n•\nclimate change,\n\n•\ndeterioration of the U.S. economy,\n\n•\nchanges in state and federal laws, regulations or policies under the current presidential administration, including changes in trade policies and regulations, including increases or changes in duties, current and potentially new tariffs or quotas and other similar measures, as well as the impact of retaliatory tariffs and other actions, changes to tax legislation, including the passage of the One Big Beautiful Bill Act, potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, changes to immigration laws, as well as other legislation and executive orders or decreases or delays in or uncertainties related to governmental spending, and\n\n•\ngeopolitical risks, including those related to the war between Russia and Ukraine and the conflict and potential regime change in Iran, as well as other hostilities in the Middle East, and related disruptions to global energy markets.\n\n \n\nAny forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law. New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement.\n\n3\n\nTable of Contents\n\n \n\n \n\n \n\nPage\n\n \n\n \n\n \n\nPART I.\n\n[FINANCIAL INFORMATION](#part_i_financial_information)\n\n5"}