Shimmick secures $45.4 million contract for bridge upgrades

In the United States, Shimmick Corporation secured a $45.4 million contract on December 2, 2024, aimed at conducting seismic retrofitting and upgrades on the Murray Street Bridge located at Santa Cruz Small Craft Harbor. The project's primary goal is to enhance the bridge's seismic resilience and improve accessibility for both cyclists and pedestrians. The planned upgrades involve installing new structural elements such as piles, extended pile caps, and columns to ensure the bridge can withstand seismic events while facilitating better traffic flow for non-motorized users. The improvements will feature wider bike lanes and a dedicated sidewalk on the south side of the bridge, which aims to provide safer travel options for cyclists and pedestrians alike. Furthermore, the existing concrete barriers will be replaced with see-through rails, enhancing the aesthetic appeal and views of the surrounding harbor and ocean area. Such improvements indicate a step towards not only improving public safety but also promoting more sustainable transportation options in the region. Ural Yal, the CEO of Shimmick Corporation, expressed the company's dedication to delivering vital infrastructure that significantly benefits public safety and connectivity. This project aligns with Shimmick's historical focus on infrastructure development that serves the community's needs over generations. The partnership with the City of Santa Cruz underlines the local government's commitment to improving public infrastructure and community resilience against natural disasters. In the financial performance context, Shimmick reported a significant decrease in earnings per share for the third quarter of 2024, which stood at $0.72—a decline from $1.67 in the previous year. Despite this decrease, the company showcased strong sales of $166.0 million, which exceeded market predictions of $120.05 million. The company maintains a substantial backlog exceeding $834 million as of September 27, 2024, ensuring continued operational capacity to undertake various critical projects going forward.