GIFI on NASDAQ

Gulf Island Fabrication

Logo: Gulf Island Fabrication, Public domain, via Wikimedia Commons4

American shipbuilder

Gulf Island Fabrication is an American manufacturer of specialized structures and marine vessels used in the energy sector. it owns seven building yards in Louisiana and Texas and has Bechtel as a partner.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

1985Founded1

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  • TickerGIFI on NASDAQ1
  • IndustryFabricated Structural Metal Products1
  • HeadquartersThe Woodlands1
  • Websitewww.gulfisland.com
  • Legal formpublic company1
  • Incorporated inLA5
  • Business address2170 Buckthorne Pl, Suite 420, The Woodlands, Tx 773805
  • Filer categoryNon-accelerated filer, Smaller reporting company5

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Gulf Island Fabrication is an American manufacturer of specialized structures and marine vessels used in the energy sector. it owns seven building yards in Louisiana and Texas and has Bechtel as a partner.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

14.0%Gross margin7
7.7%Operating margin7
9.3%Net margin7
5.4%Revenue growth, 20247
15.8%Return on equity7
0.19×Debt to equity7
$12.9MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue86¢$136.9M
  • Other costs5¢$7.5M
  • Income tax0¢$51.0K
  • Profit9¢$14.7M

Out of $159.2M in revenue.7

Where each dollar of operating cash went, fiscal 2024

  • Capital spending29¢$5.3M
  • Share buybacks7¢$1.2M
  • Kept or used elsewhere64¢$11.7M

Out of $18.2M of cash from operations.7

Financial statements

Revenue8910117$159.2M in 2024−28% since 2018
0$100.0M$200.0M$300.0M$400.0M2018: $221.2M$221.2M20182019: $303.3M$303.3M2019+37%2020: $117.7M$117.7M2020−61%2021: $93.5M$93.5M2021−21%2022: $142.3M$142.3M2022+52%2023: $151.1M$151.1M2023+6%2024: $159.2M$159.2M2024+5%
Gross profit8910117$22.3M in 2024
-$20.0M-$10.0M0$10.0M$20.0M$30.0M2018: -$7.2M-$7.2M20182019: -$17.0M-$17.0M2019+136%2020: -$7.9M-$7.9M2020−54%2021: $1.7M$1.7M20212022: $7.9M$7.9M2022+374%2023: -$11.9M-$11.9M20232024: $22.3M$22.3M2024
Operating income8910117$12.3M in 2024
-$60.0M-$40.0M-$20.0M0$20.0M2018: -$19.7M-$19.7M20182019: -$50.0M-$50.0M2019+154%2020: -$13.9M-$13.9M2020−72%2021: -$13.5M-$13.5M2021−3%2022: -$3.4M-$3.4M2022−75%2023: -$25.9M-$25.9M2023+658%2024: $12.3M$12.3M2024
Net income8910117$14.7M in 2024
-$60.0M-$40.0M-$20.0M0$20.0M2018: -$20.4M-$20.4M20182019: -$49.4M-$49.4M2019+142%2020: -$27.4M-$27.4M2020−44%2021: -$22.2M-$22.2M2021−19%2022: -$3.4M-$3.4M2022−85%2023: -$24.4M-$24.4M2023+628%2024: $14.7M$14.7M2024
Fiscal year2018201920202021202220232024
Revenue$221.2M8$303.3M8$117.7M9$93.5M10$142.3M11$151.1M7$159.2M7
Cost of revenue$228.4M8$320.3M8$125.6M9$91.8M10$134.4M11$163.0M7$136.9M7
Gross profit-$7.2M8-$17.0M8-$7.9M9$1.7M10$7.9M11-$11.9M7$22.3M7
Operating income-$19.7M8-$50.0M8-$13.9M9-$13.5M10-$3.4M11-$25.9M7$12.3M7
Interest$142.0K14
Income before tax-$4.8M10-$3.3M11-$24.4M7$14.7M7
Income tax$571.0K8-$96.0K8-$52.0K9-$24.0K10$23.0K11-$41.0K7-$51.0K7
Net income-$20.4M8-$49.4M8-$27.4M9-$22.2M10-$3.4M11-$24.4M7$14.7M7
Earnings per share-$1.4310-$0.2111-$1.517$0.907
Earnings per share (diluted)-$1.4310-$0.2111-$1.517$0.887
Shares (weighted, basic)15.5M shares1015.8M shares1116.2M shares716.4M shares7
Shares (weighted, diluted)15.5M shares1015.8M shares1116.2M shares716.8M shares7

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The story

Based in Houston, Texas, Gulf Island Fabrication (GIF) was founded by Alden “Doc” Laborde, a World War II Navy commander who later worked the offshore oil and gas industry. In 1985, it took over a bankrupt rival named Delta Fabrication.

In 1997, when it went public, the firm offered 2,000,000 shares, totaling an offering of US$30 million. By diversifying its revenue streams to include shipbuilding, it expanded by acquiring the LeeVac Shipyards in 2016, generating approximately $112 million incremental contract backlog during the industry crisis.

On January 16, 2026, IES Holdings announced the completion of its acquisition of GIF.

From Wikipedia’s article on Gulf Island Fabrication, shared under CC BY-SA 4.0.6

Leadership

Who has led Gulf Island Fabrication, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kerry J. Chauvin2006–2013
  2. Francis A. Smith Jr.2009–2013
  3. William G. Blanchard2010–2013
  4. Kirk J. Meche2013–2019
  5. Richard W. Heo2019–now

Chair

  1. Kerry J. Chauvin2009–2013

President

  1. William G. Blanchard2006–2013
  2. Kerry J. Chauvin2006–2008
  3. Kirk J. Meche2009–2019
  4. Francis A. Smith Jr.2009–2013
  5. Richard W. Heo2019–now

Chief financial officer

  1. Joseph P. Gallagher2006
  2. Robin A. Seibert2007–2011
  3. Roy F. Breerwood Iii.2012
  4. Jeff Favret2013–2016
  5. David Scott Schorlemer2017–2018
  6. Westley S. Stockton2018–now

Chief operating officer

  1. Kirk J. Meche2009–2012
  2. Todd F. Ladd2014–2019
1990200020102020
Board members and other officers (26)

Employees over time

  • 20199441

Timeline

  1. Nov 18, 2019New chief executive Richard W. Heo becomes CEO16
  2. Jan 2, 2013New chief executive Kirk J. Meche becomes CEO17
  3. Dec 3, 2010New chief executive William G. Blanchard becomes CEO18
  4. Mar 3, 2009New chief executive Francis A. Smith Jr. becomes CEO19
  5. Aug 14, 2006New chief executive Kerry J. Chauvin becomes CEO20
  6. 1985Founded Founded1

Filings

231 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 42 major events, 115 insider forms, 21 large holders, 35 other. The latest 20:

  1. Feb 11, 2026SCHEDULE 13G/A EDGAR
  2. Jan 26, 202615-15D EDGAR
  3. Jan 26, 202615-12G EDGAR
  4. Jan 20, 2026S-8 POS EDGAR
  5. Jan 20, 2026S-8 POS EDGAR
  6. Jan 20, 2026S-8 POS EDGAR
  7. Jan 20, 2026SCHEDULE 13D/A EDGAR
  8. Jan 16, 202625-NSE EDGAR
  9. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  10. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  11. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  12. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  13. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  14. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  15. Jan 16, 20264 PRIMARY DOCUMENT EDGAR
  16. Jan 16, 20268-K EDGAR
  17. Jan 16, 20264 OWNERSHIP DOCUMENT EDGAR
  18. Jan 16, 20264 OWNERSHIP DOCUMENT EDGAR
  19. Jan 14, 2026EFFECT EDGAR
  20. Jan 14, 2026EFFECT EDGAR

The 231 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 14, 2023Averick Robert MDirectorBuy10,000$3.97$39.7KForm 4
Aug 22, 2022CHILES WILLIAM EDirectorBuy5,000$3.96$19.8KForm 4
Aug 12, 2022Burns Murray W.DirectorBuy2,000$3.81$7.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

The numbers on this page point here. Each one links to the record it came from.

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