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Gulf Island Fabrication, Inc. (GIFI)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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4.60000.0000 (0.00%)
At close: 4:00PM EDT
4.6000 0.00 (0.00%)
After hours: 04:00PM EDT
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  • J
    Joseph
    Why the sudden movement?
    Bullish
  • U
    UpTabDownTab
    Why did they sell $352million of backlog for a net of $15million?
  • r
    robert
    hired a law firm and an investment firm 4 months ago to help raise the share price....why don't they just sell off the assets for 15-20 bucks and everyone walks off happy....
  • T
    T-Pain
    Nice to see the company continuing to grow its backlog with the St. Lawrence win...still curious about the status of the SeaOne project (potentially GIFI's largest project ever). SeaOne was expected to make it's commitments on their Caribbean project this quarter, but it looks like any announcement is put off until next month. I think 2018 is going to be huge.
  • L
    Layna
    Is it time to short this stock??? With a new CEO in place, he will take a page out of the "Replacement CEO Handbook" and write down as much as he can in his first quarter at the helm. Given their steady losses under the old CEO, how much true losses were being cushioned hoping for better days. The old CEO was ousted for a reason and I anticipate seeing a minimum $25MM writedown. With the stock trading at asset value this could reflect a 30% or more stock drop??? It will be interesting to see how the new CEO spins this. How does he justify such a large hit in one quarter without putting blame on the old CEO and putting a focus on the CFO's ability as he has now been there through six quarters. Has his head been stuck in the sand? Depending on where the blame gets directed, it will begin to beg the question of restating earnings. Interesting times at GIFI.
    Bearish
  • T
    T-Pain
    $10 Million coming in from Tidewater from their dispute settlement
    $20 Million coming in from hurricane insurance proceeds (most of which will not need to be spent).
    $55 Million coming in from sale of Ingleside property (no equipment)
    Proceeds from additional sales of North Yard property and all South Texas equipment.
    Hopefully an announcement soon on the SeaOne project.
    Plenty of great catalysts and a very high Short Ratio!
  • J
    Jazenevd
    This company had so many bad, aka "learning lesson", quarters in a row that they could have 1-2 good quarters, just for change. Share price is very low by formal metrics and so even one good quarter, it means just break-even numbers, would move it higher.
    In more general perspective, it is pitiful that management missed petrochemical boom going on Texas coast, i.e. right under their noses.
  • I
    Igivup
    GIFI making some progress. Today's q report didn't look that good to me though to warrant a 14% share price rise. Bwdik.
  • L
    Layna
    CEO Retirement??? Must be big loss about to be announced in Nov. (@ -$5M???)
    Bearish
  • T
    T-Pain
    Looks like GIFI got a good settlement in the dispute with TDW - collecting almost all of their $ on the vessels.
  • W
    Watching
    GIFI & SHIP are bullish AF tomorrow
    Bullish
  • J
    Jazenevd
    Nice jump. Did they finally sell a ship with profit?
  • o
    olymtnman
    Conference call
    There appears to be value here in terms of liquidity and assets but can they ever learn to bid contracts so they are profitable?
    Maybe next year?
  • Y
    Yahoo Finance Insights
    Gulf Island Fabrication is up 7.28% to 3.24
  • Y
    Yahoo Finance Insights
    Gulf Island Fabrication is up 7.74% to 5.01
  • T
    T-Pain
    From the quarterly conference call:

    1. GIFI has the highest backlog it's had in 3 years:
    "Our backlog at September 30, 2017, includes recent awards from our services and shipyards divisions and remains the highest backlog we've reported in over 3 years."

    2. GIFI is on the verge of announcing the largest project win in its history:
    "I'm also very pleased to announce that earlier this week, we received notification from SeaOne Holdings, LLC that we had been selected as the prime contractor for the engineering, procurement, construction installation, commissioning and startup, also known as EPCICS, for its Caribbean fuel supply project.
    ...you're absolutely correct, this could be one of the largest projects that Gulf Island could sign in the history of our company."

    3. Activity to convert $107 million of Assets Held for Sale are progressing:
    "We have executed a letter of interest with a proposed buyer for the sale of our South Yard in Ingleside, Texas."

    I believe all of the news has been ignored by the market. Great buying opportunity.
  • Y
    Yahoo Finance Insights
    Gulf Island Fabrication is up 6.69% to 3.35
  • A
    Anonymous
    Now trading below cash. Absolutely no value given to the assets and the backlog
  • T
    T-Pain
    GIFI filed an amendment to their credit facility lowering the tangible book value requirement of their credit facility by $30,000,000. I am wondering if this change is to give them the flexibility to issue a large dividend this year as the cash detailed in the post below is received.
  • T
    T-Pain
    Wondering why GIFI never takes part in analyst conferences - I think they have a great story right now...