Gulf Island Expects To Exit Q1 With Cash Balance Approaching $60M
Portfolio Pulse from Benzinga Newsdesk
Gulf Island Fabrication, Inc. (GIFI) projects a Q1 cash balance nearing $60M and provides 2024 guidance with Services segment EBITDA at $14M, primarily from Spark Safety growth, and Fabrication segment EBITDA at $8M, highlighting small-scale fabrication growth.
March 07, 2024 | 9:47 pm
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POSITIVE IMPACT
Gulf Island Fabrication, Inc. expects a strong Q1 cash balance of around $60M and optimistic 2024 EBITDA forecasts for its Services and Fabrication segments.
The positive guidance for 2024, with expected growth in both the Services and Fabrication segments, suggests a strong financial outlook for Gulf Island. The anticipated cash balance nearing $60M indicates robust liquidity, which is likely to be viewed favorably by investors. The specific mention of growth in the Spark Safety business line and the small-scale fabrication business further supports the potential for revenue growth and profitability, contributing to a positive short-term impact on GIFI's stock price.
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