Gulf Is Fabrication Inc Stock Price, News & Analysis

Gulf Island Fabrication reported a 24.1% year-over-year revenue decline to $24.3 million for Q2 2021 but reduced net loss from continuing operations to $(1.7) million, down from $(4.2) million in Q2 2020. The company achieved a positive EBITDA of $2.7 million in its Fabrication & Services Division. Following the Shipyard Transaction, cash reserves strengthened to $74.9 million. Gulf Island aims for profitable growth through new market pursuits and strategic improvements, despite ongoing challenges in revenue generation.

Gulf Island Fabrication will announce its second quarter 2021 financial results on August 10, 2021, following market closure. A conference call will be held at 4:00 p.m. CT to discuss these results. The event will be accessible via webcast on the company's website or by phone. Gulf Island specializes in fabricating complex steel structures and offers project management services to the energy sector, with headquarters in Houston, Texas, and operational facilities in Houma, Louisiana.

Gulf Island Fabrication (GIFI) reported a 25% year-over-year decline in total revenue for Q1 2021, totaling $59 million. The company faced a net loss of $18.6 million, impacted by impairments and transaction costs of $23.4 million. Non-GAAP Adjusted EBITDA fell 15.3% to $6.9 million. Following the recent sale of its Shipyard Division assets, the company reported a backlog of $339.6 million. Management highlighted improving bidding activity and a strategic focus on higher-margin opportunities in sustainable energy sectors.

Gulf Island Fabrication (GIFI) will announce its first quarter 2021 financial results following market close on May 11, 2021. A conference call is scheduled for the same day at 4:00 p.m. CT to discuss these results. The call can be accessed via Gulf Island's website or by phone. The company specializes in fabricating complex steel structures and provides various services to the energy sector. This announcement indicates upcoming financial disclosures that could influence investor sentiment and stock performance.

On April 19, 2021, Gulf Island Fabrication (NASDAQ: GIFI) announced the sale of its Shipyard Division assets and long-term contracts to Bollinger Shipyards for approximately $28.6 million. The Company expects around $15 million in net cash proceeds after liabilities and costs. This divestiture aims to enhance focus on specialty fabrication, improve risk profile by eliminating long-term contract liabilities, and strengthen liquidity. A pre-tax loss of $26 million to $28 million is anticipated due to this transaction.

Gulf Island Fabrication (GIFI) reported a fourth-quarter 2020 revenue of $57.6 million, down from $79.4 million in Q4 2019. The net loss for the quarter was $15.4 million, with an adjusted EBITDA loss of $9.2 million. Key factors impacting performance include project charges in the Shipyard Division and low production volumes in the Fabrication & Services Division. The company completed significant facility closures and improved resource utilization strategies. Despite challenges, particularly due to COVID-19 and oil price volatility, GIFI aims to enhance profitability in 2021.

Gulf Island Fabrication, Inc. (NASDAQ: GIFI) plans to announce its fourth quarter 2020 financial results on March 29, 2021, after market close. Management will discuss these results during a conference call scheduled for the same day at 4:00 p.m. CT (5:00 p.m. ET). Interested parties can access the call via webcast on the company’s website or by dialing 1.866.248.8441. Gulf Island specializes in fabricating complex steel structures and offers various services to the energy sector and other industrial operators.

Gulf Island Fabrication reported a net loss of $12.3 million and an EBITDA loss of $10.1 million for Q3 2020, reflecting the impacts of the COVID-19 pandemic and hurricane activity. Revenue decreased to $54.9 million, down from $75.8 million year-over-year. The Fabrication & Services Division experienced significant revenue drops due to completed projects, while the Shipyard Division faced challenges from project-related charges. The company's backlog stood at $429.1 million as of September 30, 2020.

Gulf Island Fabrication, Inc. (NASDAQ: GIFI) will release its third quarter 2020 financial results after the market closes on November 2, 2020. Management will host a conference call at 4:00 p.m. CT to discuss these results. The call can be accessed via webcast on the Company’s website or by calling 1.800.430.8332. Gulf Island specializes in fabricating complex steel structures and providing project management services to various sectors including energy and marine operations. Their headquarters is in Houston, Texas, with additional facilities in Louisiana.