THE WOODLANDS, Texas, June 02, 2025 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (“Gulf Island” or the “Company”), a leading steel fabricator and service provider to the industrial and energy sectors, today announced that it will participate in the Q2 Investor Summit Virtual Conference, taking place on Wednesday, June 11, 2025. In conjunction with the event, Gulf Island’s Chief Executive Officer, Richard Heo, will be available to participate in one-on-one meetings with investors register ...

Gulf Island Fabrication (GIFI) Q1 2025 Earnings Call May 06, 2025 05:00 PM ET Company Participants Cindi Cook - Executive Assistant to CEORichard Heo - President, CEO & ChairmanWestley Stockton - Executive VP, CFO, Treasurer, Secretary & Principal Accounting OfficerMarty W. Malloy - Director of Research Operator Good afternoon, ladies and gentlemen, and welcome to Gulf Island's Conference Call to discuss First Quarter twenty twenty five Results. All participants will be in a listen only mode for the duratio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (713) 714-6100 (Registrant's telephone number, including area code) Securities registered pursuant to 12(b) of the Act: | Title of each class | Trading Symbol(s) | Na ...

Gulf Island Fabrication (GIFI) Q1 2025 Earnings Call May 06, 2025 05:00 PM ET Speaker0 Good afternoon, ladies and gentlemen, and welcome to Gulf Island's Conference Call to discuss First Quarter twenty twenty five Results. All participants will be in a listen only mode for the duration of the call. This call is being recorded. At this time, I would like to turn the floor over to Ms. Cindy Cook for opening remarks. Cindy, please go ahead. Speaker1 Thank you, and good afternoon. I would like to welcome everyo ...

THE WOODLANDS, TX - Gulf Island Fabrication, Inc. (NASDAQ: GIFI) ("Gulf Island" or the "Company"), a leading steel fabricator and service provider to the industrial and energy sectors, today announced its results for the first quarter 2025. FIRST QUARTER 2025 SUMMARY See "Non-GAAP Measures" below for the Company's definition of EBITDA and reconciliations of the relevant amounts to the most directly comparable GAAP measure. Exhibit 99.1 GULF ISLAND REPORTS FIRST QUARTER 2025 RESULTS RESULTS FOR FIRST QUARTER ...

THE WOODLANDS, Texas, May 06, 2025 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) ("Gulf Island" or the "Company"), a leading steel fabricator and service provider to the industrial and energy sectors, today announced its results for the first quarter 2025. FIRST QUARTER 2025 SUMMARY See "Non-GAAP Measures" below for the Company's definition of EBITDA and reconciliations of the relevant amounts to the most directly comparable GAAP measure. MANAGEMENT COMMENTARY "The strategic actions we ha ...

THE WOODLANDS, Texas, April 29, 2025 (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 will report financial results for the first quarter 2025 after the market close on Tuesday, May 6, 2025. Gulf Island management will hold a conference call on Tuesday, May 6, 2025, at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss the Company’s financial ...

Financial Data and Key Metrics Changes - For the full year 2024, the company generated revenue of $159 million and adjusted EBITDA of nearly $13 million, converting this to approximately $13 million of free cash flow [9][17] - Consolidated revenue for Q4 2024 was $37.4 million, flat from Q3 2024 but down from $44.6 million in Q4 2023, primarily due to lower services revenue [23] - Adjusted consolidated EBITDA for Q4 2024 was $3.7 million, up from $2.9 million in Q3 2024 but down from $6.6 million in Q4 2023 [24] Business Line Data and Key Metrics Changes - Services division revenue for Q4 2024 was $18.8 million, a decrease of 23% compared to Q4 2023, driven by lower new project awards and delayed project opportunities [25] - Fabrication division revenue for Q4 2024 was $19.6 million, a decrease of $1 million or 4.9% compared to Q4 2023, but showed year-over-year growth when excluding prior year benefits from customer change orders [26] - Corporate division EBITDA was a loss of $2.3 million for Q4 2024, compared to a loss of $2 million in the prior year period, due to higher costs associated with diversification initiatives [28] Market Data and Key Metrics Changes - The company is seeing increased bidding activity in markets outside of oil and gas, such as infrastructure, government, and high-tech manufacturing [9][10] - The lifting of the ban on LNG projects has led to a resumption of activity in the Gulf Coast region, with anticipated construction activity increasing [11][12] - The company expects lower capital spending levels from services customers in the Gulf of America during 2025 due to lower demand for crude [14] Company Strategy and Development Direction - The company is focused on expanding its small-scale fabrication business and diversifying its services, particularly in cleaning and environmental services [9][14] - Capital allocation priorities for 2025 will include investing in organic growth, strategic acquisitions, and potential capital returns to shareholders [19][20] - The company aims to build on its foundation while waiting for the right large project opportunities, maintaining a disciplined approach [13][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for large-scale fabrication projects, particularly in LNG and nuclear sectors, despite the uncertainty in timing [11][32] - The company anticipates lower full-year 2025 consolidated EBITDA compared to 2024 due to expected lower capital spending by services customers [33] - Management highlighted the resilience of the small-scale fabrication and services business despite market headwinds [17] Other Important Information - The company ended Q4 2024 with approximately $67 million in cash and short-term investments, providing significant liquidity for growth opportunities [28][31] - The company has remaining authorization to repurchase approximately $3.7 million of its common stock under its share repurchase program [29] Q&A Session Summary Question: Opportunities in the fabrication segment - Management noted significant opportunities in LNG projects in Texas and Louisiana, with expectations for momentum in the back half of the year [39][40] - There has been a pickup in activity in nuclear projects, with RFQs being fielded from various customers [43][44] Question: Acquisition opportunities - Management indicated that while there is cash available for acquisitions, the challenge lies in the bid-ask spread between buyers and sellers [46]

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Q4 2024 Earnings Conference Call March 4, 2025 5:00 PM ET Company Participants Cindi Cook - Executive Administrative Assistant Richard Heo - President and CEO Wes Stockton - Executive Vice President and CFO Conference Call Participants Martin Malloy - Johnson Rice Operator Good afternoon, ladies and gentlemen, and welcome to Gulf Island Fabrication, Inc.'s conference to discuss the fourth quarter and full year 2024 results. All participants will be in a listen-onl ...

Revenue Dependence and Customer Concentration - The company’s revenue and profitability are heavily dependent on the offshore oil and gas industry, which is historically cyclical[70]. - In 2024, two customers accounted for 51% of the company’s consolidated revenue, down from 53% in 2023[75]. - The company relies on a small number of customers for a significant portion of its revenue, which poses risks if any major customer reduces spending[75]. - The company remains dependent on the oil and gas industry, which is historically cyclical and subject to volatility in prices, impacting revenue and profitability[112]. Market and Competitive Risks - Competitive pricing in the industry has negatively affected the company’s ability to recover project and overhead costs[76]. - The company faces increased competition from foreign fabricators with lower operating costs and government subsidies[74]. - The competitive labor market has made it difficult to attract and retain skilled personnel, which could affect project execution and profitability[99]. - Increased demand for construction labor has resulted in higher costs, potentially impacting the company's financial condition[100]. Operational Challenges - The company has experienced significant volatility in oil and gas prices, impacting capital expenditures and drilling activities from traditional customers[70]. - The company’s short-term profitability may be impacted by delays in project awards and execution, leading to potential idle workforce costs[78]. - The company’s contracts are often fixed-price or unit-rate, exposing it to risks of cost overruns and variations from estimated performance[79]. - The company’s operations are subject to risks from supply chain disruptions, labor costs, and project execution challenges[72]. - Supplier and subcontractor delays have negatively impacted project results, highlighting the reliance on third parties for raw materials and services[89]. - The company may experience significant delays in deliveries of key raw materials due to inflation and availability issues, which could impact future projects[91]. - The backlog is subject to changes due to delays, suspensions, or terminations, which could significantly impact expected revenue and timing[87]. Financial and Capital Management - The company has not made significant investments in new equipment or refurbishment, leading to potentially higher future repair or replacement costs[86]. - Future capital needs may arise for working capital, capital expenditures, and strategic opportunities, which could impair the company's ability to operate if additional capital cannot be raised[111]. - The company may face challenges in enhancing shareholder value through the share repurchase program due to potential stock price fluctuations and market liquidity issues[109]. - The Board has authorized a share repurchase program of up to $5.0 million, with $3.7 million remaining for repurchases as of now, effective through December 31, 2025[108]. Regulatory and Environmental Risks - Legal and regulatory changes, including tariffs and trade restrictions, may increase costs and disrupt supply chains for the company's fabrication projects[122]. - Compliance with regulatory and environmental laws is becoming increasingly complex and expensive, with potential strict liability for environmental damages[125]. - Regulatory responses to climate change, such as carbon taxes and cap-and-trade regimes, may adversely affect demand for oil and natural gas, impacting the company's services[126]. - Offshore construction and drilling may face restrictions from environmental groups and new regulations, potentially affecting business prospects[127]. - Climate change poses potential physical risks, including increased costs and operational disruptions due to severe weather events, although future financial risks cannot be reliably estimated[124]. Safety and Management Concerns - The company’s safety assurance program is critical to maintaining compliance and preventing injuries, which could otherwise lead to financial losses and reputational harm[104]. - The company’s ability to manage new business lines effectively is uncertain, and failure to do so could reduce shareholder value[106]. - Activist shareholders hold over one-quarter of the company's stock, which could create uncertainty about strategic direction and divert management's attention[128]. Infrastructure and Operational Dependencies - The company’s facilities are vulnerable to physical damage from hurricanes, as evidenced by past experiences with Hurricane Francine[82]. - The company relies on the Houma Navigation Canal for access to open waters, and potential funding issues for dredging could hinder operations[129].