Sign in

    Aaron Sparhola • Craig-Hallum Capital Group

    Aaron Spychalla is a Senior Research Analyst at Craig-Hallum Capital Group, specializing in the coverage of industrials and clean technologies, where he has played a crucial role in building out the firm's research practice for nearly 15 years. He has provided research and investment insights on companies such as Quest Resource Holding Corp and other small- and mid-cap public firms within the industrials and clean tech sectors, consistently delivering investment calls in line with analyst estimates and demonstrating expertise in operational efficiencies and insider activity trends. Spychalla began his tenure at Craig-Hallum in 2011 and is recognized for his longevity and reputation in sector research, though prior experience before this role is not publicly detailed. He holds professional credentials including the Chartered Financial Analyst (CFA) designation, attesting to his expertise in financial analysis and ethics.

    Aaron Sparhola's questions to Shimmick Corp (SHIM) leadership

    Aaron Sparhola's questions to Shimmick Corp (SHIM) leadership • Q2 2025

    Question

    Aaron Sparhola from Craig-Hallum Capital Group inquired about the growth of the $4.5 billion 12-month bidding pipeline and associated win rates. He also asked for an update on operational improvements, the margin profile of the current backlog, and the progress in winding down the remaining non-core legacy projects.

    Answer

    CEO Yarl Yarl explained that the pipeline has more than doubled from ~$2 billion at the start of the year, with win rates averaging 15% for fixed-price and 20% for negotiated contracts. He stated that overall margins will gradually increase as new Shimmick projects, bid at an average of 14-15%, replace negative-margin non-core work, with an acceleration expected in 2026. Yarl Yarl added that the risk from non-core work is decreasing, with one major project set to finish by year-end and the last one extending into mid-2026.

    Ask Fintool Equity Research AI