Gulf Island Fabrication, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 04:22 pm
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Gulf Island Fabrication, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 39.59 million compared to USD 19.59 million a year ago. Net income was USD 0.598 million compared to USD 5.39 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.35 a year ago. Basic earnings per share was USD 0.04 compared to USD 0.35 a year ago.
For the nine months, sales was USD 104.18 million compared to USD 67.64 million a year ago. Net loss was USD 3.9 million compared to USD 15.98 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to basic earnings per share from continuing operations of USD 0.09 a year ago. Basic loss per share was USD 0.25 compared to USD 1.03 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. 
