Gulf Island Fabrication, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022 at 04:10 pm EDT
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Gulf Island Fabrication, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 35.9 million compared to USD 24.27 million a year ago. Net income was USD 0.528 million compared to net loss of USD 2.83 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.1 a year ago. Basic earnings per share was USD 0.03 compared to basic loss per share of USD 0.18 a year ago.
For the six months, sales was USD 64.59 million compared to USD 48.05 million a year ago. Net loss was USD 4.5 million compared to USD 21.37 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to USD 0.26 a year ago. Basic loss per share was USD 0.29 compared to USD 1.38 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.
GULF ISLAND FABRICATION, INC. 
