Gulf Island Fabrication sees FY24 EBITDA at lower-end of prior guidance range

Gulf Island’s prior full-year 2024 indicative guidance was adjusted consolidated EBITDA of $11.0 million to $13.0 million. Based on the continued project delays impacting the Services division, in addition to lost revenue resulting from hurricane activity during the quarter, partly offset by higher small-scale fabrication activity, the Company currently expects full-year 2024 adjusted consolidated EBITDA to be at the lower-end of the guidance range. This forward-looking guidance reflects management’s current expectations and beliefs as of November 5 , and is subject to change. See “Cautionary Statement” below for further discussion of the factors that may affect the Company’s future performance, “Non-GAAP Measures” below for the Company’s definition of EBITDA and adjusted EBITDA, and “2024 Financial Outlook – Consolidated EBITDA and Adjusted EBITDA Reconciliations” below for reconciliations of consolidated EBITDA and adjusted EBITDA to the most comparable GAAP measures.