Published on 7 Oct 2024 on GuruFocus.com · via Yahoo Finance
Gulf Island Fabrication Inc (GIFI) Q2 2024 Earnings Call Highlights: Navigating...
Consolidated Revenue: $41.3 million, a 5% increase from $39.3 million in the prior year period.Consolidated EBITDA: $2.5 million, down from $4.1 million in the prior year period.Services Division Revenue: $22.8 million, a decrease of 7% compared to the second quarter of 2023.Services Division EBITDA: $2.7 million, down from $3.8 million in the prior year period.Fabrication Division Revenue: $18.7 million, a 27% increase compared to the second quarter of 2023.Fabrication Division EBITDA: $1.8 million, down from $2.1 million in the prior year period.Corporate Division EBITDA: Loss of $2 million, compared to a loss of $1.9 million in the prior year period.Cash and Investments Balance: Over $63 million at the end of the second quarter.Debt Obligation: $20 million with annual payments of approximately $1.7 million starting December 31, 2024.Services Division EBITDA Guidance: Lowered to $11 to $13 million from $14 million.Fabrication Division 2024 Adjusted EBITDA Guidance: Approximately $8 million.Corporate Division 2024 EBITDA Loss Guidance: Approximately $8 million.2024 Capital Expenditures: Expected to be $5 to $5.5 million, with $1.5 to $2 million forecasted for the remainder of the year.