secwatch.observer — SEC 8-K summary
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Issuer:     GULF ISLAND FABRICATION INC (—)
CIK:        0001031623
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0000950170-24-054487
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gulf Island Q1 revenue $42.9M, net income $6.2M; reiterates FY2024 guidance
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- Consolidated revenue $42.9M, down 31% YoY; net income $6.2M vs $0.6M, aided by $2.9M property sale gain.
- Services segment revenue $25.5M (+18.3% YoY), operating income $2.9M; EBITDA $3.3M vs $2.8M.
- Fabrication segment revenue $17.1M (-56.8% YoY), adjusted EBITDA $2.5M, excluding $2.9M property sale gain.
- Cash and investments $61.3M at March 31; total debt $20.0M at 3% fixed; repurchased 60,860 shares for $0.3M.
- Reiterated FY2024 guidance: Services EBITDA ~$14M, Fabrication adj. EBITDA ~$8M, Corporate EBITDA loss ~$8M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031623/000095017024054487/0000950170-24-054487-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031623/000095017024054487/gifi-20240507.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-054487

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