Gulf Island Awarded Fabrication Contract

Rhea-AI Summary

Gulf Island Fabrication, Inc. (NASDAQ: GIFI) has secured a significant fabrication contract for an offshore project in the Gulf of Mexico. The contract's estimated value will be added to the Company's consolidated new awards and backlog in its third-quarter financial results for 2022. Gulf Island specializes in complex steel structures and offers a range of services to the industrial and energy sectors, catering to both U.S. and international clients.

Positive

• Awarded a large fabrication contract for an offshore project in the Gulf of Mexico.
• The contract value will contribute to the Company’s new awards and backlog in Q3 2022.

Negative

• None.

HOUSTON, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI), a leading steel fabricator and service provider to the industrial and energy sectors, today announced that it has been awarded a large fabrication contract for an offshore project in the Gulf of Mexico.

The estimated contract value will be included in the Company’s consolidated new awards and backlog when reported in connection with the Company’s filing of its financial results for the third quarter 2022.

ABOUT GULF ISLAND

Gulf Island is a leading fabricator of complex steel structures and modules and provider of specialty services, including project management, hookup, commissioning, repair, maintenance, scaffolding, coatings, civil construction and staffing services to the industrial and energy sectors. The Company’s customers include U.S. and, to a lesser extent, international energy producers; refining, petrochemical, LNG, industrial and power operators; and EPC companies. The Company is headquartered in Houston, Texas and its primary operating facilities are located in Houma, Louisiana. For more information please visit www.gulfisland.com.

COMPANY INFORMATION
Richard W. Heo	Westley S. Stockton
Chief Executive Officer	Chief Financial Officer
713.714.6100	713.714.6100

FAQ

What recent contract did Gulf Island Fabrication (GIFI) secure?

Gulf Island Fabrication announced it has been awarded a large fabrication contract for an offshore project in the Gulf of Mexico.

How will the new contract impact Gulf Island (GIFI) financials?

The estimated value of the contract will be included in the Company’s consolidated new awards and backlog reported for Q3 2022.

What sectors does Gulf Island Fabrication (GIFI) serve?

Gulf Island serves the industrial and energy sectors, providing services to energy producers, refining, petrochemical, and power operators.