Gulf Island Fabrication (NASDAQ:GIFI) issued its quarterly earnings results on Friday. The oil and gas company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.51), Fidelity Earnings reports. Gulf Island Fabrication had a negative net margin of 16.83% and a negative return on equity of 11.13%. The firm had revenue of $49.71 million for the quarter.
GIFI traded down $0.15 on Friday, hitting $8.38. 37,337 shares of the stock traded hands, compared to its average volume of 25,982. Gulf Island Fabrication has a 52 week low of $6.90 and a 52 week high of $13.95.
Separately, ValuEngine upgraded Gulf Island Fabrication from a “sell” rating to a “hold” rating in a research note on Monday, August 13th.
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Gulf Island Fabrication, Inc, through its subsidiaries, operates as a fabricator of offshore drilling and production platforms, and other steel structures in the United States. The company fabricates jackets and deck sections of fixed production platforms; hull, tendon, and/or deck sections of floating production platforms, such as tension leg platforms, single point anchor reservoirs, floating production storage and offloading vessels, and minimum deepwater operating concepts; pressure vessels; and piles, wellhead protectors, and subsea templates, as well as various production, compressor, and utility modules.
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