Gulf Island Fabrication, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 07, 2024 at 04:10 pm EST
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Gulf Island Fabrication, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 44.55 million compared to USD 38.14 million a year ago. Net income was USD 7.09 million compared to USD 0.549 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.43 compared to USD 0.04 a year ago.
For the full year, sales was USD 151.07 million compared to USD 142.32 million a year ago. Net loss was USD 24.4 million compared to USD 3.35 million a year ago. Basic loss per share from continuing operations was USD 1.51 compared to USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 1.51 compared to USD 0.21 a year ago.
Gulf Island Fabrication, Inc. is a fabricator of complex steel structures and modules. The Company is also a provider of specialty services, including project management, hookup, commissioning, repair, maintenance, scaffolding, coatings, welding enclosures, civil construction and staffing services for the industrial and energy sectors. The Company operates through two divisions: the Services Division, and the Fabrication Division. Services Division provides maintenance, repair, construction, scaffolding, coatings, welding enclosures and other specialty services on offshore platforms and inland structures and at industrial facilities. It also provides services required to connect production equipment and service modules and equipment on offshore platforms. Fabrication Division fabricates modules, skids and piping systems for onshore refining, petrochemical, industrial facilities, and offshore facilities; fabricates foundations, secondary steel components and support structures.