Gulf Island Fabrication's Q2 revenue falls

Gulf Island Fabrication

06/08/2025 22:39

Overview

Gulf Island Q2 revenue falls to $37.5 mln, down from $41.3 mln last year

Company posts net loss of $0.6 mln, compared to $1.9 mln net income in Q2 2024

Adjusted EBITDA declines to $1.9 mln from $2.5 mln, impacted by Englobal acquisition losses

Outlook

Company expects Englobal Business to contribute to profitability in 2026

Gulf Island anticipates $1.5 mln to $2.0 mln Englobal losses in 2025

Company sees improved bidding activity in fabrication market

Gulf Island expects full award for $20 mln project in Q3 2025

Result Drivers

ENGLOBAL ACQUISITION - Acquisition of ENGlobal assets led to post-acquisition losses, impacting results

OFFSHORE MARKET SOFTNESS - Continued softness in the offshore services market contributed to lower revenue

FABRICATION ACTIVITY - Decreased small-scale fabrication activity reduced revenue in the fabrication division

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$37.50 mln
Q2 Net Income
-$600,000
Q2 EBITDA
$2 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for Gulf Island Fabrication Inc is $8.00, about 14.7% above its August 5 closing price of $6.82

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX3vWqn

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)