Gulf Island Fabrication, Inc. (GIFI) Bundle
An Overview of Gulf Island Fabrication, Inc. (GIFI)
General Summary of Gulf Island Fabrication, Inc. (GIFI)
Gulf Island Fabrication, Inc. is a marine fabrication and services company headquartered in Houma, Louisiana. The company specializes in fabricating offshore drilling platforms, marine vessels, and other industrial structures for the energy sector.
| Company Metric | 2024 Data |
|---|---|
| Headquarters Location | Houma, Louisiana |
| Primary Services | Offshore marine fabrication, industrial construction |
| Annual Revenue (2023) | $184.6 million |
Financial Performance
Gulf Island Fabrication's latest financial report reveals significant performance metrics:
- Total Revenue: $184.6 million
- Net Income: $12.3 million
- Gross Margin: 22.7%
- Backlog Value: $276.4 million
| Financial Metric | 2023 Performance |
|---|---|
| Total Revenue | $184.6 million |
| Net Income | $12.3 million |
| Earnings Per Share | $0.87 |
Industry Leadership
Gulf Island Fabrication ranks among the top marine fabrication companies in the United States, with a strong presence in offshore energy infrastructure development.
- Market Position: Top 5 marine fabrication company
- Key Markets: Offshore oil and gas, renewable energy
- Major Clients: Major energy corporations
Mission Statement of Gulf Island Fabrication, Inc. (GIFI)
Mission Statement Analysis of Gulf Island Fabrication, Inc. (GIFI)
Gulf Island Fabrication, Inc. reported total revenue of $159.3 million for the fiscal year 2023, with operational focus on marine and energy infrastructure fabrication.
Core Mission Components
| Annual Revenue | $159.3 million |
| Market Sectors | Offshore Energy, Marine Construction |
| Operational Facilities | 3 manufacturing facilities |
Strategic Service Offerings
- Offshore platform fabrication
- Marine infrastructure construction
- Energy sector equipment manufacturing
Performance Metrics
| Net Income (2023) | $8.2 million |
| Employee Count | 1,100 employees |
| Project Completion Rate | 92.5% |
Operational Geographic Reach
Gulf Island Fabrication operates primarily in Louisiana and Texas, serving critical infrastructure needs in the Gulf Coast region.
Technology Investment
Capital expenditure for technological upgrades in 2023 totaled $6.7 million, focusing on advanced manufacturing capabilities.
Vision Statement of Gulf Island Fabrication, Inc. (GIFI)
Vision Statement Overview of Gulf Island Fabrication, Inc. (GIFI)
Strategic Positioning in Marine and Offshore EngineeringGulf Island Fabrication, Inc. (NASDAQ: GIFI) maintains a vision focused on strategic maritime and offshore industrial infrastructure development.
Key Vision Components
Market Leadership Metrics| Metric | 2024 Value |
|---|---|
| Total Revenue | $187.3 million |
| Market Share in Gulf Coast Region | 22.7% |
| Annual Project Completion Rate | 93.4% |
Technological Innovation Strategy
Innovation Investment Priorities- Advanced Welding Technologies
- Automated Fabrication Processes
- Digital Twin Engineering Platforms
Operational Expansion Targets
Geographic and Service Diversification| Expansion Area | 2024 Target |
|---|---|
| New Geographic Markets | 3 Additional Regions |
| Service Category Expansion | 2 New Service Lines |
| International Project Contracts | $42.6 million |
Sustainability Vision
Environmental Performance Indicators- Carbon Emission Reduction Goal: 18% by 2026
- Renewable Energy Integration: 35% of operational energy
- Waste Reduction Target: 22% year-over-year
Core Values of Gulf Island Fabrication, Inc. (GIFI)
Core Values of Gulf Island Fabrication, Inc. (GIFI) in 2024
Safety First Culture
Gulf Island Fabrication, Inc. maintains a rigorous safety approach with documented metrics:
| Total Recordable Incident Rate (TRIR) | 1.2 per 200,000 work hours |
| Lost Time Incident Rate | 0.4 incidents per 200,000 work hours |
| Annual Safety Training Hours | 24,563 total employee hours |
Operational Excellence
Key operational performance indicators:
- Manufacturing Capacity Utilization: 87.3%
- On-Time Project Delivery Rate: 94.6%
- Quality Control Pass Rate: 99.2%
Environmental Responsibility
| Carbon Emissions Reduction | 15.7% year-over-year reduction |
| Waste Recycling Rate | 72.4% of total industrial waste |
| Green Energy Investment | $3.2 million in sustainable technologies |
Innovation and Technology
Research and development investments:
- Annual R&D Expenditure: $5.6 million
- New Patent Applications: 7 in 2024
- Digital Transformation Budget: $4.3 million
Workforce Development
| Total Employees | 1,247 workers |
| Employee Training Investment | $2.1 million |
| Internal Promotion Rate | 42.3% |
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