Shimmick is a U.S. heavy civil construction contractor focused on water infrastructure, primarily in California. Shimmick builds, rehabilitates, and upgrades physical infrastructure — including water and wastewater treatment plants, dams, reservoirs, pump stations, and flood control systems — for public-sector clients such as federal agencies, municipal water districts, and state and local public works departments. Beyond water, Shimmick pursues levees, light rail, and electrical work. Shimmick wins work primarily through competitive public bidding, acting as prime contractor on roughly 96% of its current backlog. Shimmick makes money by completing construction contracts at a margin above cost, recognizing revenue on a percentage-of-completion basis. Profitability is driven by project selection, contract type, and self-performance of work rather than subcontracting. Fixed-price contracts carry meaningful risk, and Shimmick is actively shifting its backlog toward negotiated/collaborative contracts with shared risk and open-book pricing, targeting a 50/50 mix over time. A key near-term dynamic is the wind-down of legacy "non-core" fixed-price contracts won before Shimmick's 2021 spin-off from AECOM, which have weighed on margins; these are expected to complete by end of 2026. Shimmick launched Axia Electric in 2025 as a dedicated electrical subsidiary targeting industrial electrification, water treatment electrical systems, and data center construction. Shimmick is also expanding into Texas, where population growth is driving water infrastructure demand.