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.
Gulf Island Fabrication (GIFI) announced its fourth quarter and full-year 2022 results, reporting a 47.8% year-over-year increase in revenue to $38.1 million. Consolidated income from continuing operations was $0.5 million, a turnaround from a loss of $6.2 million in Q4 2021. EBITDA improved to $1.7 million compared to a loss of $5.1 million in the prior year. Key segments showed growth: Services segment revenue rose to $21.6 million (up 60.3% y/y) and Fabrication segment revenue increased to $16.4 million (up 60% y/y). Cash and short-term investments stood at $44.7 million with no bank debt.
Gulf Island Fabrication, Inc. (NASDAQ: GIFI) announced it will report its financial results for Q4 and the full year of 2022 after the market closes on March 28, 2023. The management team will hold a conference call at 4:00 p.m. Central Time to discuss the financials. Investors can access the call via webcast on Gulf Island's website or by calling 1.877.704.4453. Gulf Island specializes in fabricating complex steel structures and providing specialized services to the industrial and energy sectors, including project management and maintenance.
Gulf Island Fabrication's Q3 2022 results showcase a 102.1% revenue increase to $39.6 million, despite a decline in income from continuing operations of $0.6 million. The Services Division saw significant growth, doubling its EBITDA thanks to strong offshore activity and the DSS Acquisition. A key milestone was the signing of a large offshore fabrication contract in the Gulf of Mexico. The company reported a robust cash balance exceeding $37 million, providing liquidity for future growth strategies.
Gulf Island Fabrication (NASDAQ: GIFI) announced participation in the Sidoti Micro-Cap Virtual Conference on November 10, 2022. CEO Richard Heo and CFO Westley Stockton will engage in one-on-one meetings with registered investors during the event. Gulf Island specializes in fabricating complex steel structures and providing services such as project management and maintenance for the energy and industrial sectors. Headquartered in Houston, Texas, the company serves a diverse client base, including domestic and international energy producers.
Gulf Island Fabrication, Inc. (NASDAQ: GIFI) announced it will report its third quarter 2022 results after market close on November 8, 2022. A conference call is scheduled for the same day at 4:00 PM CT to discuss financial results. The call will be accessible via webcast on Gulf Island's website and by phone. Gulf Island specializes in steel fabrication and service for the industrial and energy sectors. Its primary operations are based in Houma, Louisiana, serving clients across various sectors including energy and petrochemicals.
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.
Gulf Island Fabrication, Inc. (NASDAQ: GIFI), a prominent steel fabricator, announced participation in the Sidoti Micro-Cap Virtual Conference on August 17, 2022. CEO Richard Heo and CFO Westley Stockton will meet with registered investors during the event. Gulf Island specializes in complex steel structures and offers services such as project management, maintenance, and civil construction mainly for the energy sector. Its customer base includes U.S.-based energy producers and EPC companies, with headquarters in Houston, Texas, and significant operations in Houma, Louisiana.
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