HOUMA

Gulf Island Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, March 7, 2024
Operating cost, Vexatious litigation, Investment, Share repurchase, Growth, Prejudice, Hurricane Ida, Note, Sale, Segment, GAAP, Consolidated, Webcast, Gulf of Mexico, Insurance, Central Time, Surety, Workforce, Corporation, Video game

Operating income was $2.7 million for the fourth quarter 2023, compared to operating income of $2.2 million for the fourth quarter 2022.

Key Points: 
  • Operating income was $2.7 million for the fourth quarter 2023, compared to operating income of $2.2 million for the fourth quarter 2022.
  • Operating income was $6.1 million for the fourth quarter 2023, compared to operating income of $4.1 million for the fourth quarter 2022.
  • Shipyard Segment – Revenue for the fourth quarter 2023 was $0.6 million, an increase of $0.2 million compared to the fourth quarter 2022.
  • Operating loss was $0.1 million for the fourth quarter 2023, compared to an operating loss of $3.6 million for the fourth quarter 2022.

Gulf Island Announces Fourth Quarter and Full Year 2023 Results Conference Call Date

Retrieved on: 
Thursday, February 29, 2024
Central Time, Webcast

THE WOODLANDS, Texas, Feb. 29, 2024 (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 fourth quarter and full year 2023 after the market close on Thursday, March 7, 2024.

Key Points: 
  • THE WOODLANDS, Texas, Feb. 29, 2024 (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 fourth quarter and full year 2023 after the market close on Thursday, March 7, 2024.
  • Gulf Island management will hold a conference call on Thursday, March 7, 2024, at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss the Company’s financial results.
  • The call will be available by webcast and can be accessed on Gulf Island’s website at http://www.gulfisland.com .
  • Participants may also join the call by calling 1.877.704.4453 and requesting the “Gulf Island” conference call.

Gulf Island Announces Sale of Excess Property

Retrieved on: 
Tuesday, February 27, 2024
Sale

THE WOODLANDS, Texas, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (the “Company”), a leading steel fabricator and service provider to the industrial and energy sectors, announced today that it has completed the sale of certain excess property that was part of the Company’s facilities located in Houma, Louisiana for net cash proceeds of approximately $8.5 million.

Key Points: 
  • THE WOODLANDS, Texas, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (the “Company”), a leading steel fabricator and service provider to the industrial and energy sectors, announced today that it has completed the sale of certain excess property that was part of the Company’s facilities located in Houma, Louisiana for net cash proceeds of approximately $8.5 million.
  • “A key aspect of our strategic transformation has been to improve our resource and facility utilization and the sale of this property at our Houma facility is consistent with this objective,” said Richard Heo, Gulf Island’s President and Chief Executive Officer.
  • “The sale of this under-utilized property has no impact on our existing Fabrication operations and in no way limits our ability to pursue future growth opportunities, including a large fabrication project.
  • We think this is an attractive transaction for shareholders, as it monetizes an unnecessary asset and provides us additional financial flexibility as we continue to pursue our strategic growth initiatives.”

SEACOR Marine Announces Upgrade of Four PSVs with Kongsberg Maritime Energy Storage Systems

Retrieved on: 
Thursday, January 25, 2024
Senior, Atlas, PSV, Kongsberg Maritime, Transport, Renewable energy

HOUSTON and OSLO, Norway, Jan. 25, 2024 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today jointly announced its commitment to acquire four state-of-the-art energy storage systems from Kongsberg Maritime AS.

Key Points: 
  • HOUSTON and OSLO, Norway, Jan. 25, 2024 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today jointly announced its commitment to acquire four state-of-the-art energy storage systems from Kongsberg Maritime AS.
  • The four vessels included in the contract are the SEACOR Ohio, SEACOR Alps, SEACOR Andes and SEACOR Atlas.
  • The four PSVs, all of which will feature the Kongsberg Maritime UT771 CDL Design, will be equipped for battery hybrid operation with the installation of a containerised Deckhouse Energy Storage System and associated switchboards and thruster control systems.
  • Beginning in February 2024 in Ulsteinvik, Norway, Kongsberg Maritime will also upgrade the UT771 CDL SEACOR Yangtze with the Deckhouse Energy Storage System.

Gulf Island Announces Share Repurchase Program

Retrieved on: 
Monday, December 4, 2023
Share repurchase, Acquisition, Investment

“Gulf Island is committed to a balanced capital allocation strategy that is designed to maximize total shareholder returns,” stated Richard Heo, Gulf Island’s President and Chief Executive Officer.

Key Points: 
  • “Gulf Island is committed to a balanced capital allocation strategy that is designed to maximize total shareholder returns,” stated Richard Heo, Gulf Island’s President and Chief Executive Officer.
  • “The approval by our Board of a share repurchase program demonstrates our solid financial position and confidence in our business outlook.
  • The share repurchase program does not obligate the Company to repurchase any shares and may be modified, increased, suspended or terminated at any time at the Board’s discretion.
  • The Company does not expect to incur debt to fund the share repurchase program.

Gulf Island Receives Multiple Subsea Fabrication Awards

Retrieved on: 
Wednesday, November 29, 2023
Gulf of Mexico

THE WOODLANDS, Texas, Nov. 29, 2023 (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 has been awarded multiple subsea fabrication projects from a leading integrated subsea engineering, procurement, construction and installation (“EPCI”) company.

Key Points: 
  • THE WOODLANDS, Texas, Nov. 29, 2023 (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 has been awarded multiple subsea fabrication projects from a leading integrated subsea engineering, procurement, construction and installation (“EPCI”) company.
  • The projects consist of procurement, fabrication, coating and testing of subsea structures for multiple developments located in the Gulf of Mexico.
  • The fabricated components include PLETs (pipeline end terminations), jumper kits, jumpers and sleepers that will be fabricated at Gulf Island’s Houma fabrication facility.
  • “We expect subsea fabrication activity to remain strong well into 2024, associated with anticipated subsea developments across the Gulf of Mexico, Guyana and Brazil, and Gulf Island is well-positioned to take advantage of these trends.

Gulf Island to Participate in the Sidoti Micro-Cap Virtual Conference

Retrieved on: 
Wednesday, November 8, 2023
Conference, Cryptocurrency, Sidoti

THE WOODLANDS, Texas, Nov. 08, 2023 (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 members of its executive management team will participate in the Sidoti Micro-Cap Virtual Conference on Wednesday, November 15, 2023.

Key Points: 
  • THE WOODLANDS, Texas, Nov. 08, 2023 (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 members of its executive management team will participate in the Sidoti Micro-Cap Virtual Conference on Wednesday, November 15, 2023.
  • In conjunction with the event, Gulf Island’s Chief Executive Officer, Richard Heo, and Chief Financial Officer, Westley Stockton, will be available to participate in one-on-one meetings with investors registered to attend the conference.
  • For more information, please contact your Sidoti salesperson.

Gulf Island Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Adjustment, Insurance, Operating cost, History, Gulf of Mexico, Prejudice, EBITDA, Workforce, GAAP, District of Columbia Protective Services Division, Wind, Growth, Hurricane Ida, Surety, Heo, Risk, Webcast, Central Time, Investment, Note, Agreement, Shipyard, Reinsurance, Video game, Bookkeeping, Bank, Film industry, Natural gas, Service, Gulf Islands, LNG, Fabrication

THE WOODLANDS, Texas, Nov. 07, 2023 (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 results for the third quarter 2023.

Key Points: 
  • THE WOODLANDS, Texas, Nov. 07, 2023 (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 results for the third quarter 2023.
  • We look forward to finishing the year on a strong note and anticipate fourth quarter operating results for both Fabrication and Services to improve relative to the third quarter 2023.
  • Revenues for the third quarter 2023 were lower than the second quarter 2023 due to the timing of project activity.
  • Gulf Island will hold a conference call on Tuesday, November 7, 2023 at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss the Company’s financial results.