Welcome to our dedicated page for Gulf Island Fabrication news (Ticker: GIFI), a resource for investors and traders seeking the latest updates and insights on Gulf Island Fabrication stock.
Gulf Island Fabrication Inc (NASDAQ: GIFI) is a diversified, publicly traded corporation renowned for its excellence in the fabrication, maintenance, and servicing of structures, facilities, and vessels within the energy sector and beyond. With several strategic locations along the Gulf Coast, the company has established itself as a global leader, delivering quality and safety on time and on budget. Gulf Island Fabrication boasts a team of skilled craftsmen who have constructed many pioneering and record-breaking steel structures worldwide.
The company operates through three primary segments:
- Fabrication Division: This division specializes in the construction of offshore drilling and production platforms, along with other complex steel structures for the oil and gas industries. The division is known for its ability to tackle intricate projects, ensuring they meet stringent industry standards.
- Shipyards Division: Focused on the manufacturing and repair of various steel marine vessels in the United States, this division handles everything from newly built to refurbishing tasks, ensuring vessels meet both national and international maritime regulations.
- Services Division: Providing a wide range of support services, such as interconnect piping services on offshore platforms, welding, and maintenance of inshore structures, this division ensures the long-term operability and safety of industrial facilities.
In recent developments, Gulf Island Fabrication reported its third-quarter 2023 results, showcasing solid financial performance and strategic growth despite challenging market conditions. The company continues to focus on improving operational efficiency and expanding its service offerings to meet the evolving needs of the energy and industrial sectors.
Gulf Island Fabrication Inc. is committed to delivering top-tier services and products, maintaining a reputation for reliability and innovation in the fabrication and marine construction markets.
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Gulf Island Fabrication, Inc. (GIFI) will release its financial results for Q4 and full year 2023 on March 7, 2024. A conference call will follow to discuss the results. Investors can access the call via webcast or phone.
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Gulf Island Fabrication, Inc. (GIFI) completes the sale of excess property in Houma, Louisiana, generating $8.5 million in net cash proceeds. The sale aligns with the company's strategic transformation to enhance resource and facility utilization, without impacting current operations or hindering future growth opportunities.
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Gulf Island Fabrication, Inc. (NASDAQ: GIFI) announced a share repurchase program authorizing the repurchase of up to $5.0 million of the Company’s outstanding common stock, effective from December 15, 2023 through December 15, 2024. The program reflects the Company's commitment to a balanced capital allocation strategy and confidence in its business outlook.
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Gulf Island Fabrication, Inc. (NASDAQ: GIFI) has been awarded multiple subsea fabrication projects from a leading integrated subsea engineering, procurement, construction and installation company, with an aggregate contract value of approximately $5 million. The projects will be included in the Company’s new awards and backlog in the fourth quarter 2023. Gulf Island's President and CEO, Richard Heo, expressed excitement about the momentum building in the subsea fabrication market and expects strong activity well into 2024.
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Gulf Island Fabrication, Inc. (NASDAQ: GIFI) announced its participation in the Sidoti Micro-Cap Virtual Conference on November 15, 2023. CEO Richard Heo and CFO Westley Stockton will be available for one-on-one meetings with investors.
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Gulf Island Fabrication, Inc. (NASDAQ: GIFI) Announces Q3 2023 Results with Revenue of $5.0 million and Consolidated Net Loss of $33.2 million. Resolves Shipyard Division’s MPSV Litigation. Management Commentary highlights strategic transformation and strong operating results.
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Gulf Island Fabrication, Inc. will report financial results for Q3 2023 on November 7, 2023. The conference call to discuss the results will be held at 4:00 p.m. CT on the same day. Participants can join the call via webcast or by dialing 1.877.704.4453. A replay of the webcast will be available on the company's website for seven days.
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Gulf Island Fabrication resolves lawsuit and enters settlement agreement with Hornbeck Offshore Services
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Gulf Island Fabrication, Inc. (GIFI) announced its second quarter 2023 results, reporting a 9.5% increase in revenue year-over-year, with consolidated net income of $1.1 million and EBITDA of $2.1 million. The Services Division operating income and EBITDA were $3.3 million and $3.8 million, respectively, while the Fabrication Division operating income and EBITDA were $1.3 million and $2.1 million, respectively. The company also reported a cash and short-term investment balance of $40.2 million at June 30, 2023.
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FAQ
What is the current stock price of Gulf Island Fabrication (GIFI)?
The current stock price of Gulf Island Fabrication (GIFI) is $6.92 as of November 20, 2024.
What is the market cap of Gulf Island Fabrication (GIFI)?
The market cap of Gulf Island Fabrication (GIFI) is approximately 113.8M.
What does Gulf Island Fabrication Inc. do?
Gulf Island Fabrication Inc. specializes in the fabrication, maintenance, and servicing of structures, facilities, and vessels within the energy sector and beyond.
Where are Gulf Island Fabrication's operations located?
The company operates several locations along the Gulf Coast, strategically positioned to serve the global market.
What are the main segments of Gulf Island Fabrication Inc.?
The company operates through three main segments: Fabrication, Shipyards, and Services.
What does the Fabrication Division do?
The Fabrication Division constructs offshore drilling and production platforms and other complex steel structures primarily for the oil and gas industries.
What services does the Shipyards Division provide?
The Shipyards Division handles the manufacturing and repair of various steel marine vessels in the United States.
What types of services are offered by the Services Division?
The Services Division provides interconnect piping services, welding, and maintenance of offshore platforms and inshore structures.
What recent achievements has Gulf Island Fabrication reported?
The company reported solid financial performance for the third quarter of 2023, continuing its growth and operational efficiency.
What is Gulf Island Fabrication known for?
The company is known for its skilled craftsmen who have built many pioneering and record-breaking steel structures globally.
What industries does Gulf Island Fabrication serve?
The company primarily serves the energy sector, including oil and gas, but also extends its services to other industrial markets.
How does Gulf Island Fabrication ensure quality and safety?
The company is committed to delivering projects on time and within budget, maintaining stringent quality and safety standards in all its operations.
Gulf Island Fabrication Inc
Nasdaq:GIFI
GIFI Rankings
GIFI Stock Data
113.82M
14.94M
7.96%
63.31%
0.54%
Metal Fabrication
Fabricated Structural Metal Products
United States of America
THE WOODLANDS