Mission Statement, Vision, & Core Values (2024) of Gulf Island Fabrication, Inc. (GIFI)

Mission Statement, Vision, & Core Values (2024) of Gulf Island Fabrication, Inc. (GIFI)

US | Industrials | Manufacturing - Metal Fabrication | NASDAQ

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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 Engineering

Gulf 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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