11:40 AM EDT, 08/16/2024 (MT Newswires) -- Shimmick ( SHIM ) shares were down more than 19% in recent Friday trading after the water infrastructure company reported Thursday a fiscal Q2 adjusted loss of $1.60 per share, widening from the $0.31 loss per share a year earlier.

Two analysts polled by Capital IQ expected a loss of $0.29 per share.

Revenue for the quarter ended June 28 was $90.6 million compared with $155.2 million a year earlier.

Two analysts polled by Capital IQ expected $124.2 million.

The company said it now expects fiscal 2024 revenue to "remain generally flat" after excluding Foundations Projects revenue of $64 million for fiscal 2023, compared with its previous growth forecast of 7% to 13%.

Price: 2.64, Change: -0.64, Percent Change: -19.51