How The Wheels Came Off Gulf Island Fabrication's Bus
Gulf Island Fabrication (NAS: GIFI) reported earnings on Feb. 27. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Gulf Island Fabrication whiffed on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share stayed the same.
Gross margins improved, operating margins expanded, net margins dropped.
Gulf Island Fabrication reported revenue of $85.8 million. The two analysts polled by S&P Capital IQ expected a top line of $109.7 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $43.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.11. The four earnings estimates compiled by S&P Capital IQ averaged $0.28 per share on the same basis. GAAP EPS of $0.12 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.9%, 90 basis points better than the prior-year quarter. Operating margin was 3.2%, 250 basis points better than the prior-year quarter. Net margin was 2.0%, 190 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $97.1 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $318.4 million. The average EPS estimate is $0.29.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 365 members out of 382 rating the stock outperform, and 17 members rating it underperform. Among 105 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 104 give Gulf Island Fabrication a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulf Island Fabrication is outperform, with an average price target of $37.50.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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