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
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:43,12652,88651,15769,60079,1778,983
Cash and cash equivalents33,22152,88643,15949,70370,4578,983
Short-term investments9,905 7,99819,9188,720 
Other undisclosed cash, cash equivalents, and short-term investments    (21)  
Restricted cash and investments1,6031,297    
Receivables29,42715,98615,39326,09522,50528,466
Inventory, net of allowances, customer advances and progress billings1,5991,7792,2622,6766,0884,933
Inventory1,5991,7792,2622,6766,0884,933
Prepaid expense6,4756,9712,8153,9483,2683,833
Contract with customer, asset, after allowance for credit loss4,8394,75967,52152,12829,982
Disposal group, including discontinued operation   8,2149,006  
Asset, held-for-sale, not part of disposal group  1,800  18,935104,576
Costs in excess of billings28,373
Other undisclosed current assets   21  
Total current assets:87,06985,478147,362163,474159,955179,164
Noncurrent Assets
Property, plant and equipment31,15432,86667,45870,48479,93088,899
Intangible assets, net (including goodwill)3,0593,201    
Goodwill2,2172,217    
Intangible assets, net (excluding goodwill)842984    
Restricted cash and investments  406    
Other noncurrent assets13,58413,32216,52318,81918,4052,777
Total noncurrent assets:47,79749,79583,98189,30398,33591,676
TOTAL ASSETS:134,866135,273231,343252,777258,290270,840
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities22,59323,30677,78471,57339,25631,235
Taxes payable    119
Accounts payable8,3109,28070,11461,54228,96918,375
Accrued liabilities14,28314,0267,67010,03110,28712,741
Deferred revenue8,1966,64815,12926,271
Debt   5,499   
Provision for loss on contracts      7,618
Deferred revenue and credits4,676
Billings in excess of cost5,136
Contract with customer, liability16,845
Total current liabilities:30,78929,95498,41297,84456,10148,665
Noncurrent Liabilities
Long-term debt and lease obligation   4,501   
Long-term debt, excluding current maturities   4,501   
Liabilities, other than long-term debt1,4531,4112,0682,2481,0892,682
Deferred revenue and credits769
Deferred revenue    
Other liabilities1,4531,4112,0682,2481,0891,913
Total noncurrent liabilities:1,4531,4116,5692,2481,0892,682
Total liabilities:32,24231,365104,981100,09257,19051,347
Equity
Equity, attributable to parent102,624103,908126,362152,685201,100219,493
Common stock11,59111,38411,22311,11911,02110,823
Additional paid in capital107,372105,511104,072103,124102,243100,456
Retained earnings (accumulated deficit)(16,339)(12,987)11,06738,44287,836108,214
Total equity:102,624103,908126,362152,685201,100219,493
TOTAL LIABILITIES AND EQUITY:134,866135,273231,343252,777258,290270,840

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
Revenues142,32093,452250,959303,308221,247171,022
Cost of revenue
(Cost of Goods and Services Sold)
(134,425)(91,788)(268,710)(320,307)(228,443)(213,947)
Gross profit:7,8951,664(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), net6,904(3,300)8,580134  
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 taxes86(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)245296(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
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.

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