Gulf Island Fabrication, Inc. (GIFI) Financial Statements (2024 and earlier)
Company Profile
Business Address |
2170 BUCKTHORNE PL THE WOODLANDS, TX 77380 |
State of Incorp. | LA |
Fiscal Year End | December 31 |
Industry (SIC) | 344 - Fabricated Structural Metal Products (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments, including: | 43,126 | 52,886 | 51,157 | 69,600 | 79,177 | 8,983 | |||
Cash and cash equivalents | 33,221 | 52,886 | 43,159 | 49,703 | 70,457 | 8,983 | |||
Short-term investments | 9,905 | 7,998 | 19,918 | 8,720 | |||||
Other undisclosed cash, cash equivalents, and short-term investments | (21) | ||||||||
Restricted cash and investments | 1,603 | 1,297 | |||||||
Receivables | 29,427 | 15,986 | 15,393 | 26,095 | 22,505 | 28,466 | |||
Inventory, net of allowances, customer advances and progress billings | 1,599 | 1,779 | 2,262 | 2,676 | 6,088 | 4,933 | |||
Inventory | 1,599 | 1,779 | 2,262 | 2,676 | 6,088 | 4,933 | |||
Prepaid expense | 6,475 | 6,971 | 2,815 | 3,948 | 3,268 | 3,833 | |||
Contract with customer, asset, after allowance for credit loss | 4,839 | 4,759 | 67,521 | 52,128 | 29,982 | ✕ | |||
Disposal group, including discontinued operation | 8,214 | 9,006 | |||||||
Asset, held-for-sale, not part of disposal group | 1,800 | 18,935 | 104,576 | ||||||
Costs in excess of billings | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 28,373 | ||
Other undisclosed current assets | 21 | ||||||||
Total current assets: | 87,069 | 85,478 | 147,362 | 163,474 | 159,955 | 179,164 | |||
Noncurrent Assets | |||||||||
Property, plant and equipment | 31,154 | 32,866 | 67,458 | 70,484 | 79,930 | 88,899 | |||
Intangible assets, net (including goodwill) | 3,059 | 3,201 | |||||||
Goodwill | 2,217 | 2,217 | |||||||
Intangible assets, net (excluding goodwill) | 842 | 984 | |||||||
Restricted cash and investments | 406 | ||||||||
Other noncurrent assets | 13,584 | 13,322 | 16,523 | 18,819 | 18,405 | 2,777 | |||
Total noncurrent assets: | 47,797 | 49,795 | 83,981 | 89,303 | 98,335 | 91,676 | |||
TOTAL ASSETS: | 134,866 | 135,273 | 231,343 | 252,777 | 258,290 | 270,840 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 22,593 | 23,306 | 77,784 | 71,573 | 39,256 | 31,235 | |||
Taxes payable | ✕ | ✕ | 119 | ||||||
Accounts payable | 8,310 | 9,280 | 70,114 | 61,542 | 28,969 | 18,375 | |||
Accrued liabilities | 14,283 | 14,026 | 7,670 | 10,031 | 10,287 | 12,741 | |||
Deferred revenue | 8,196 | 6,648 | 15,129 | 26,271 | ✕ | ✕ | |||
Debt | 5,499 | ||||||||
Provision for loss on contracts | 7,618 | ||||||||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 4,676 | ||
Billings in excess of cost | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 5,136 | ||
Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 16,845 | ✕ | ||
Total current liabilities: | 30,789 | 29,954 | 98,412 | 97,844 | 56,101 | 48,665 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 4,501 | ||||||||
Long-term debt, excluding current maturities | 4,501 | ||||||||
Liabilities, other than long-term debt | 1,453 | 1,411 | 2,068 | 2,248 | 1,089 | 2,682 | |||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 769 | ||
Deferred revenue | ✕ | ✕ | |||||||
Other liabilities | 1,453 | 1,411 | 2,068 | 2,248 | 1,089 | 1,913 | |||
Total noncurrent liabilities: | 1,453 | 1,411 | 6,569 | 2,248 | 1,089 | 2,682 | |||
Total liabilities: | 32,242 | 31,365 | 104,981 | 100,092 | 57,190 | 51,347 | |||
Equity | |||||||||
Equity, attributable to parent | 102,624 | 103,908 | 126,362 | 152,685 | 201,100 | 219,493 | |||
Common stock | 11,591 | 11,384 | 11,223 | 11,119 | 11,021 | 10,823 | |||
Additional paid in capital | 107,372 | 105,511 | 104,072 | 103,124 | 102,243 | 100,456 | |||
Retained earnings (accumulated deficit) | (16,339) | (12,987) | 11,067 | 38,442 | 87,836 | 108,214 | |||
Total equity: | 102,624 | 103,908 | 126,362 | 152,685 | 201,100 | 219,493 | |||
TOTAL LIABILITIES AND EQUITY: | 134,866 | 135,273 | 231,343 | 252,777 | 258,290 | 270,840 |
Income Statement (P&L) ($ in thousands)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Revenues | 142,320 | 93,452 | 250,959 | 303,308 | 221,247 | 171,022 | ||
Cost of revenue (Cost of Goods and Services Sold) | (134,425) | (91,788) | (268,710) | (320,307) | (228,443) | (213,947) | ||
Gross profit: | 7,895 | 1,664 | (17,751) | (16,999) | (7,196) | (42,925) | ||
Operating expenses | (18,214) | (11,848) | (13,858) | (15,628) | (19,319) | (17,800) | ||
Other operating income (expense), net | 6,904 | (3,300) | 8,580 | 134 | ||||
Other undisclosed operating income (loss) | (4,130) | (17,528) | 6,850 | (7,672) | ||||
Operating loss: | (3,415) | (13,484) | (27,159) | (50,021) | (19,665) | (68,397) | ||
Nonoperating expense | (562) | |||||||
Other nonoperating expense | (213) | |||||||
Interest and debt expense | 9,061 | (142) | (349) | |||||
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (268) | 531 | 349 | |||||
Loss from continuing operations before equity method investments, income taxes: | (3,415) | (4,423) | (27,427) | (49,490) | (19,807) | (68,959) | ||
Other undisclosed income (loss) from continuing operations before income taxes | 86 | (397) | ||||||
Loss from continuing operations before income taxes: | (3,329) | (4,820) | (27,427) | (49,490) | (19,807) | (68,959) | ||
Income tax expense (benefit) | (23) | 24 | 52 | 96 | (571) | 24,193 | ||
Loss from continuing operations: | (3,352) | (4,796) | (27,375) | (49,394) | (20,378) | (44,766) | ||
Loss before gain (loss) on sale of properties: | ✕ | ✕ | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) | |
Loss from discontinued operations | (17,372) | |||||||
Net loss attributable to parent: | (3,352) | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) | ||
Other undisclosed net loss available to common stockholders, basic | (3) | |||||||
Net loss available to common stockholders, diluted: | (3,352) | (22,168) | (27,375) | (49,394) | (20,378) | (44,769) |
Comprehensive Income ($ in thousands)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Net loss: | (3,352) | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) | ||
Comprehensive loss, net of tax, attributable to parent: | (3,352) | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.