Published on 9 May 2024 on GuruFocus.com via Yahoo Finance
Gulf Island Fabrication Inc. (GIFI) Q1 2024 Earnings: Surpasses Revenue and Net Income Estimates
Revenue: Reported at $42.9 million, slightly below the estimated $43.00 million.Net Income: Achieved $6.2 million, significantly surpassing the estimated $1.18 million.Earnings Per Share (EPS): Realized at $0.37 diluted, greatly exceeding the estimated $0.08.Cash and Short-term Investments: Ended the quarter with a strong balance of $61.3 million.Operational Performance: Fabrication Division reported operating income of $4.7 million, with the Services Division contributing $2.9 million in operating income.Annual Guidance: Reiterated full-year financial targets, maintaining positive outlook for 2024.Strategic Developments: Continued focus on small-scale fabrication and offshore services, reflecting robust sector demand and operational execution.
Warning! GuruFocus has detected 7 Warning Signs with GIFI.