Gulf Island Fabrication

Gulf Island Fabrication, Inc. engages in the manufacture of steel structures, modules, and marine vessels. The firm operates through the following segments: Shipyard, Fabrication & Services and Corporate. The Shipyard segment engages in the design, construction and repair of marine vessels and also provides repair and maintenance services and fabricates newbuild marine vessels, including OSVs, MPSVs, research vessels, tugboats, salvage vessels, towboats, barges and drydocks, anchor handling vessels and lift boats. The Fabrication & Services segment engages in the fabrication of complex steel structures for offshore production and offshore wind developments as well as onshore refining, petrochemical, LNG and industrial facilities and also provides maintenance and other services in onshore facilities and on offshore platforms and performs municipal and civil works projects. The Corporate segment represents expenses that do not directly relate to the operating segments. The company was founded by Alden J. Laborde in 1985 and is headquartered in The Woodlands, TX.

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Gulf Island Fabrication (GIFI) reports strong Q4 results and outlines growth strategy for 2023

Gulf Island Fabrication (GIFI) delivered robust Q4 2022 results driven by revenue growth in Services and Fabrication divisions, despite challenges in the Shipyard segment. Strategic focus on growth areas and a healthy liquidity position position the company well for future opportunities and operational improvements.

Gulf Island Fabrication reports revenue growth in Q1 2023

Gulf Island Fabrication (GIFI) showed revenue growth in Q1 2023, driven by Services and Fabrication Divisions.
Steady growth in Services Division and improved operating income are positive signs for the company.
Challenges include the suspension of a large fabrication project and losses in the Shipyard Division.
Opportunities lie in potential project replacements, energy transition markets, and completing ferry projects.

Gulf Island Fabrication reports solid Q2 performance amidst challenges

Gulf Island Fabrication delivered a strong performance in Q2 2023, with solid growth in Services and optimism for future opportunities.
Despite challenges in the Shipyard division and a project cancellation in Fabrication, the company remains focused on strategic growth initiatives.
With a healthy cash balance and a proactive approach to mitigating challenges, Gulf Island Fabrication is well-positioned for future success.

Gulf Island Fabrication (GIFI) reports solid Q3 performance and eyes growth opportunities

Gulf Island Fabrication (GIFI) showed resilience and solid performance in Q3 2023, with a focus on profitable growth and operational strengths in Services and small-scale fabrication business.
Despite challenges from litigation-related charges and revenue impacts, the company remains financially stable with a healthy cash balance and strategic focus on market opportunities.
Opportunities in the offshore wind industry and the company's ability to navigate challenges while maintaining growth momentum position Gulf Island Fabrication for future success and expansion.
Strong financial management, operational resilience, and a strategic outlook underscore Gulf Island Fabrication's ability to weather challenges and capitalize on opportunities for sustainable growth.

Gulf Island Fabrication posts strong Q4 results, eyes growth opportunities

GIFI delivered robust financial performance in Q4 2023, driven by revenue growth and operational improvements.
Strong liquidity position and strategic outlook for 2024 indicate resilience and proactive planning.
Challenges lie in managing costs, balancing divisional performance, and optimizing capital allocation.
Opportunities exist in expanding services, pursuing acquisitions, and enhancing operational efficiency for sustained growth.

Gulf Island Fabrication reports mixed Q1 performance, eyes growth opportunities

Gulf Island Fabrication (GIFI) navigated mixed performance in Q1 2024 with revenue variations.
Management's focus on new end markets and strategic initiatives signals growth potential.
Strong liquidity and reiterated guidance position the company well for future endeavors.
Challenges in revenue segments and operational obligations require strategic attention.

Gulf Island Fabrication reports stable Q2 results amid divisional dynamics

Gulf Island Fabrication (GIFI) delivered stable Q2 results with revenue growth in the Fabrication division.
Challenges in the Services division led to revised EBITDA guidance for the year.
Strategic initiatives like the CES business line launch and focus on decommissioning opportunities show growth potential.
Strong liquidity position and consistent capital spending plans reflect financial stability and flexibility.

Gulf Island Fabrication reports solid Q3 performance amidst sector challenges

Gulf Island Fabrication (GIFI) showed resilience with revenue growth in Fabrication despite challenges in the Services division.
Strategic diversification efforts and strong cash position position the company well for future growth and market adaptability.
While facing short-term challenges, GIFI's focus on non-oil and gas markets and financial stability offer long-term strategic advantages.

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Gulf Island Fabrication, Inc. engages in the business of fabricating complex steel structures and modules and the provision of specialty services. It operates through the following segments: Services, Fabrication, Shipyard, and Corporate. The Services segment provides maintenance, repair, construction, scaffolding, coatings, and welding enclosures on offshore platforms and inland structures and at industrial facilities. The Fabrication segment fabricates modules, skids, and piping systems for onshore refining, petrochemical, liquefied natural gas, and industrial and offshore facilities. The Shipyard segment includes divested shipyard contracts and facility. The Corporate segment focuses on the costs of maintaining corporate office, executive management salaries and incentives, board of directors' fees, certain insurance costs, and costs associated with overall corporate governance and reporting requirements. The company was founded by Alden J. Laborde in 1985 and is headquartered in The Woodlands, TX.

HOUSTON, July  21, 2020  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI) will report second quarter 2020 results after market close on Tuesday, August 4, 2020.

Gulf Island Announces Date for Second Quarter 2020 Results and Conference Call

Gulf Island Fabrication: Signs Of A Turnaround

Gulf Island Fabrication, Inc. (GIFI) CEO Richard Heo On Q1 2020 Results - Earnings Call Transcript

HOUSTON, April  08, 2020  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. ("Gulf Island" or the "Company") (NASDAQ: GIFI) announced today that it received notification of an award for the construction of two additional towing, salvage and rescue ships (“T-ATS”) for the U.S. Navy (“Navy”). This represents the Navy’s execution of its fourth and fifth options for Gulf Island’s construction of five T-ATS vessels that will be built in the Company’s facility in Houma, Louisiana. The Navy has remaining options for three additional vessels. 

GULF ISLAND AWARDED TWO ADDITIONAL NAVY VESSELS

HOUSTON, March  16, 2020  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI) today announced that its Chairman of the Board of Directors (the “Board”), John “Jack” P. Laborde, will retire effective upon the expiration of his current director term in connection with the Company’s 2020 annual meeting of shareholders (the “2020 annual meeting”). With Mr. Laborde’s retirement and the anticipated expiration of the terms of two additional directors in connection with the 2020 annual meeting, the Board will be reduced to seven members upon conclusion of the 2020 annual meeting.

Gulf Island Announces Planned Retirement of Chairman, Further Reduction in Board Size and Proposal to Declassify Board

Gulf Island Fabrication, Inc. (GIFI) CEO Richard Heo on Q4 2019 Results - Earnings Call Transcript

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Gulf Island: Insiders Think $5 Stock Is Undervalued

HOUSTON, Nov.  14, 2019  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI) announced today that Jack Laborde has informed the Board of Directors of his intention to step down as Chairman of the Board following the 2020 annual shareholders’ meeting. As set forth in the Company’s corporate governance guidelines, the corporate governance and nominating committee will review and recommend a new Chairman for the Board of Directors to consider.

Gulf Island Announces Planned Chairman Transition and Reaffirms Commitment to Reduce Board Size

HOUSTON, Nov.  14, 2019  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI) announced today that the Company’s Board of Directors has appointed Richard W. Heo as President and Chief Executive Officer, effective today. Richard has also been appointed to serve as a Director of the Company. He will replace Kirk J. Meche, who has served as the Company’s President and Chief Executive Officer since 2013. As previously announced, Kirk will assist the Company with the leadership transition.

Gulf Island Announces Appointment of Richard Heo as Chief Executive Officer

Gulf Island Fabrication, Inc. (GIFI) CEO Kirk Meche on Q3 2019 Results - Earnings Call Transcript

HOUSTON, Nov.  04, 2019  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI) announced today the completion of its previously announced review of alternative strategies that began in early May 2019 and was led by a special committee of the Board of Directors (“Board”) with assistance from the Board’s financial advisor, Johnson Rice & Company L.L.C. The review was designed to objectively evaluate alternative strategies for the Company, including possible merger or sale transactions, among other things. The review has not resulted in a viable proposal.

Gulf Island Announces Completion of Review of Alternative Strategies

HOUSTON, Nov.  04, 2019  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. ("Gulf Island" or the "Company") (NASDAQ: GIFI) today reported a net loss of $6.8 million ($0.44 per share) on revenue of $75.8 million for the third quarter 2019, compared to a net loss of $5.2 million ($0.34 per share) on revenue of $80.5 million for the second quarter 2019 and net loss of $10.9 million ($0.73 per share) on revenue of $49.7 million for the third quarter 2018.  At September 30, 2019, the Company's cash and short-term investments totaled $71.4 million and backlog totaled $461.8 million.

Gulf Island Reports Third Quarter 2019 Results

HOUSTON, Oct.  21, 2019  (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (“Gulf Island” or the “Company”) (NASDAQ: GIFI) announced today the retirement of Kirk Meche from his roles as President and CEO of Gulf Island in the coming months. The Corporate Governance and Nominating Committee of the Board of Directors will lead a search process to identify the Company’s next CEO. Mr. Meche will continue to serve as President and CEO during the transition period and will assist the Board of Directors with the transition. In connection with Mr. Meche’s announced retirement, he has resigned as a Director, effective October 18, 2019. 

Gulf Island Announces Retirement of President and CEO

GIFI has dropped nearly 50% since I last wrote about the value of their assets.

Gulf Island Fabrication: A Near Net-Net With Upside

Gulf Island Fabrication, Inc. (GIFI) CEO Kirk Meche on Q1 2019 Results - Earnings Call Transcript

News for Gulf Island Fabrication Stock (GIFI)