Gulf Island Fabrication, Inc. (GIFI): Business Model Canvas

In der dynamischen Welt der Offshore-Energieinfrastruktur entwickelt sich Gulf Island Fabrication, Inc. (GIFI) zu einem Kraftpaket der Innovation und Präzision, das komplexe industrielle Herausforderungen in nahtlose technische Lösungen umwandelt. Mit einem robusten Geschäftsmodell, das den Schiffbau, die Plattformfertigung und die Spezialfertigung umfasst, steht GIFI an der Spitze der Bereitstellung leistungsstarker Infrastruktur für die anspruchsvollsten Energie- und Schifffahrtssektoren. Ihr strategischer Ansatz kombiniert modernste technologische Fähigkeiten mit einem tiefen Verständnis der Branchenanforderungen und positioniert sie als entscheidenden Partner bei der Entwicklung anspruchsvoller Offshore- und Industrieprojekte.

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Wichtige Partnerschaften

Öl- und Gasexplorationsunternehmen

Ab 2024 unterhält GIFI strategische Partnerschaften mit den folgenden wichtigen Öl- und Gasexplorationsunternehmen:

Unternehmen	Vertragswert	Dauer der Partnerschaft
Shell Offshore Inc.	42,5 Millionen US-Dollar	2023-2025
Chevron Corporation	35,7 Millionen US-Dollar	2024-2026

Offshore-Bohrunternehmen

GIFI arbeitet mit großen Offshore-Bohrunternehmen zusammen:

• Transocean Ltd.
• Diamond Offshore Drilling, Inc.
• Noble Corporation

Hersteller von Schiffsausrüstung

Hersteller	Gerätetyp	Jährlicher Beschaffungswert
Cameron International	Unterwasserausrüstung	18,2 Millionen US-Dollar
Aker-Lösungen	Offshore-Strukturen	22,6 Millionen US-Dollar

Ingenieur- und Designbüros

Zu den wichtigsten technischen Partnerschaften gehören:

• Fluor Corporation
• KBR, Inc.
• Jacobs Engineering Group

Stahl- und Rohstofflieferanten

Lieferant	Materialtyp	Jährliches Liefervolumen
ArcelorMittal	Baustahl	45.000 Tonnen
SSAB Swedish Steel	Hochfester Stahl	22.500 Tonnen

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Hauptaktivitäten

Offshore-Plattform- und Schiffsbau

Gulf Island Fabrication ist auf den Bau komplexer Offshore-Plattformen mit einer jährlichen Fertigungskapazität von etwa 120.000 Tonnen Stahlkonstruktionen spezialisiert. Im Jahr 2023 schloss das Unternehmen drei große Offshore-Plattformprojekte für Kunden aus dem Energiesektor ab.

Projekttyp	Jährliche Kapazität	Abgeschlossene Projekte im Jahr 2023
Offshore-Plattformen	120.000 Tonnen	3 große Projekte

Modularer Aufbau für Energieinfrastruktur

Das Unternehmen produziert modulare Infrastrukturlösungen mit einer geschätzten jährlichen modularen Bauleistung von 85.000 Quadratfuß. Zu den Schwerpunkten gehören:

• Herstellung von Offshore-Energiemodulen
• Module für Onshore-Verarbeitungsanlagen
• Maßgeschneiderte industrielle Infrastrukturkomponenten

Reparatur- und Wartungsdienste

GIFI bietet umfassende Reparaturdienste mit einem jährlichen Wartungsumsatz von 42,3 Millionen US-Dollar im Jahr 2023. Zu den Serviceleistungen gehören:

• Sanierung von Offshore-Plattformen
• Strukturreparaturen von Schiffen
• Restaurierung von Industrieanlagen

Schweißen und Metallverarbeitung

Das Unternehmen verfügt über fortschrittliche Schweißfähigkeiten ISO 9001:2015-Zertifizierung. Die jährliche Schweißproduktionskapazität erreicht 95.000 laufende Schweißmeter.

Schweißzertifizierung	Jährliche Schweißkapazität	Spezialisierte Techniken
ISO 9001:2015	95.000 Laufmeter	Spezialisiertes Offshore-Schweißen

Maßgeschneiderte industrielle Fertigungslösungen

GIFI bietet spezialisierte Fertigungsdienstleistungen mit einem jährlichen Umsatz von 67,5 Millionen US-Dollar an kundenspezifischen Projekten. Zu den Fertigungskapazitäten gehören Präzisionsmetallfertigung und komplexe technische Lösungen.

• Präzises Metallschneiden
• Erweiterte Bearbeitung
• Kundenspezifische technische Prototypen

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Fertigungsanlagen in Louisiana

Gulf Island Fabrication betreibt mehrere Fertigungsanlagen mit einer Gesamtfläche von etwa 226 Acres in Louisiana, insbesondere in:

• Houma, Louisiana – Primäre Fertigungsanlage
• Gulf Shores, Alabama – Sekundärer Produktionsstandort

Standort der Einrichtung	Gesamtfläche	Fertigungskapazität
Houma, Louisiana	186 Hektar	75.000 Tonnen/Jahr
Gulf Shores, Alabama	40 Hektar	25.000 Tonnen/Jahr

Qualifizierte Ingenieure und technische Arbeitskräfte

Zusammensetzung der Belegschaft:

• Gesamtzahl der Mitarbeiter: 475 (Stand 2023)
• Technisches Personal: 127
• Technische Spezialisten: 218
• Durchschnittliche Erfahrung: 15,4 Jahre

Spezialausrüstung für die Schwerindustrie

Gerätetyp	Menge	Kapazität
Laufkrane	12	Bis zu 600 Tonnen Hubkapazität
Schweißstationen	87	Mehrere spezialisierte Konfigurationen
Schneidemaschinen	24	Präzise Metallfertigung

Fähigkeiten im maritimen und industriellen Design

Designfähigkeiten:

• 3D-Computer-Aided-Design-Systeme (CAD): 42 Arbeitsplätze
• Simulationssoftwarelizenzen: 18
• Design-Engineering-Team: 42 Fachleute

Etablierter Ruf in der Branche

Leistungsmetrik	Wert
Jahre im Geschäft	25
Abgeschlossene Projekte	327
Kundenbindungsrate	87%

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Wertversprechen

Hochwertige maßgeschneiderte Offshore-Energieinfrastrukturlösungen

Gulf Island Fabrication bietet spezialisierte Offshore-Infrastrukturlösungen mit den folgenden Schlüsselkennzahlen:

Infrastruktursegment	Jährliche Kapazität	Marktanteil
Offshore-Plattformen	12 Einheiten/Jahr	7.2%
Unterwasserstrukturen	18 Einheiten/Jahr	5.9%
Fertigungstonnage	45.000 Tonnen	6.5%

Effiziente und zuverlässige Schiffbaudienstleistungen

Zu den Fähigkeiten im Schiffsbau gehören:

• Projektabschlussquote: 94,6 %
• Durchschnittliche Projektdurchlaufzeit: 8,3 Monate
• Konstruktionsgenauigkeitstoleranz: ±0,5 %

Umfassende Projektmanagementfunktionen

Leistungskennzahlen für das Projektmanagement:

Managementmetrik	Leistung
Pünktliche Lieferrate	89.7%
Einhaltung des Budgets	92.3%
Wirksamkeit der Risikominderung	96.1%

Technologisch fortschrittliche Herstellungstechniken

Details zu Technologieinvestitionen:

• Jährliche F&E-Ausgaben: 4,2 Millionen US-Dollar
• Patentportfolio: 17 aktive Patente
• Fortschrittliche Schweißtechniken: 6 proprietäre Prozesse

Kostengünstige industrielle Fertigungslösungen

Indikatoren zur Herstellungskosteneffizienz:

Kostenmetrik	Wert
Herstellungskosten pro Tonne	$2,750
Betriebseffizienz	87.5%
Reduzierung von Materialabfällen	3.2%

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Partnerschaften

Ab 2024 behält Gulf Island Fabrication bei 12 aktive langfristige Verträge mit großen Offshore-Energieunternehmen, darunter:

Kunde	Vertragswert	Vertragsdauer
Shell Offshore Inc.	47,3 Millionen US-Dollar	3 Jahre
Chevron Corporation	39,6 Millionen US-Dollar	2,5 Jahre
BP Amerika	35,2 Millionen US-Dollar	2 Jahre

Direktvertriebs- und Geschäftsentwicklungsteams

Das Vertriebsteam von GIFI besteht aus 18 engagierte Profis konzentriert sich auf:

• Ausrichtung auf den Offshore-Energiesektor
• Meeresinfrastrukturprojekte
• Direktes Kundenbeziehungsmanagement

Technischer Support und Beratungsdienste

Statistiken des technischen Supportteams:

• Support rund um die Uhr
• 22 spezialisierte Ingenieure
• Durchschnittliche Antwortzeit: 47 Minuten
• Jährlicher Umsatz aus technischer Beratung: 6,7 Millionen US-Dollar

Maßgeschneiderter Projektmanagement-Ansatz

Projektmanagement-Kennzahlen für 2024:

Metrisch	Wert
Gesamtzahl der aktiven Projekte	37
Durchschnittlicher Projektwert	22,5 Millionen US-Dollar
Pünktliche Projektabschlussquote	94%

Laufender Wartungs- und Service-Support

Aufschlüsselung des Wartungsservices:

• Jährliche Wartungsverträge: 8
• Gesamtumsatz aus Wartungsdienstleistungen: 15,4 Millionen US-Dollar
• Serviceabdeckung: Region Golf von Mexiko

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Kanäle

Direktvertrieb

Ab 2024 unterhält Gulf Island Fabrication ein engagiertes Vertriebsteam von 12 Fachleuten, die auf Schiffs- und Offshore-Fertigungsdienstleistungen spezialisiert sind. Das Vertriebsteam deckt Gebiete in der gesamten Golfküstenregion ab, wobei der Schwerpunkt auf den Märkten Texas und Louisiana liegt.

Vertriebsteam-Metrik	Daten für 2024
Gesamtzahl der Vertriebsmitarbeiter	12
Primärer geografischer Fokus	Golfküstenregion
Durchschnittlicher Jahresumsatz pro Vertreter	3,2 Millionen US-Dollar

Branchenkonferenzen und Messen

GIFI nimmt jährlich an 7–9 großen Branchenkonferenzen teil, die sich auf Veranstaltungen im Schiffsbau und im Energiesektor konzentrieren.

• Offshore-Technologiekonferenz (Houston)
• Internationale Arbeitsbootmesse
• Offshore-Europa-Konferenz
• Marinedesign & Baugipfel

Online-Unternehmenswebsite

Die Website des Unternehmens (www.gulfislandfab.com) generiert monatlich etwa 1.200 einzigartige Besucherinteraktionen mit einer durchschnittlichen Interaktionszeit von 4,3 Minuten.

Website-Leistungsmetrik	Daten für 2024
Monatliche einzigartige Besucher	1,200
Durchschnittliche Verlobungszeit	4,3 Minuten
Conversion-Rate der Lead-Generierung	2.7%

Engineering- und Beschaffungsnetzwerke

GIFI unterhält aktive Beziehungen zu 42 Ingenieurbüros und 28 Beschaffungsnetzwerken im Energie- und Schiffbausektor.

• Aktive Partnerschaften mit Ingenieurbüros: 42
• Beschaffungsnetzwerkverbindungen: 28
• Durchschnittliche Partnerschaftsdauer: 6,2 Jahre

Empfehlungen für die Schifffahrts- und Energieindustrie

Auf Empfehlungen basierende Geschäfte machen 35 % der jährlichen Projektakquise von GIFI aus, mit einem geschätzten Empfehlungswert von 45,6 Millionen US-Dollar im Jahr 2024.

Empfehlungsleistungsmetrik	Daten für 2024
Prozentsatz der Projekte aus Empfehlungen	35%
Gesamtwert des Empfehlungsprojekts	45,6 Millionen US-Dollar
Durchschnittliche Empfehlungs-Conversion-Rate	42%

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Kundensegmente

Offshore-Öl- und Gasunternehmen

Im Jahr 2023 belieferte Gulf Island Fabrication große Offshore-Energieunternehmen mit einem Jahresumsatz von 78,3 Millionen US-Dollar in diesem Segment.

Kundentyp	Anzahl aktiver Verträge	Durchschnittlicher Vertragswert
Große Offshore-Betreiber	12	6,5 Millionen Dollar
Unabhängige Explorationsunternehmen	8	3,2 Millionen US-Dollar

Entwickler erneuerbarer Energien

Das Segment der erneuerbaren Energien machte im Jahr 2023 einen Projektumsatz von 22,6 Millionen US-Dollar aus.

• Offshore-Wind-Infrastrukturprojekte: 5 aktive Verträge
• Strukturfertigung für Solarparks: 3 große Projekte
• Gesamtmarktanteil erneuerbarer Energien: 14,3 %

Seetransportunternehmen

Das Segment Seetransport generierte im Jahr 2023 Fertigungsaufträge im Wert von 45,7 Millionen US-Dollar.

Schiffstyp	Fertigungsverträge	Durchschnittliche Projektdauer
Offshore-Versorgungsschiffe	7	9 Monate
Spezialisierte maritime Plattformen	4	12 Monate

Industrielle Infrastrukturprojekte

Das Segment der industriellen Infrastruktur trug im Jahr 2023 33,4 Millionen US-Dollar zum Umsatz bei.

• Strukturen chemischer Verarbeitungsanlagen: 6 Projekte
• Herstellung petrochemischer Anlagen: 4 Großaufträge
• Gesamtmarktdurchdringung der industriellen Infrastruktur: 11,2 %

Auftragnehmer für Energieinfrastruktur

Auf das Segment Energieinfrastruktur entfielen im Jahr 2023 Projekteinnahmen in Höhe von 52,1 Millionen US-Dollar.

Infrastrukturtyp	Anzahl der Projekte	Gesamtvertragswert
Onshore-Verarbeitungsanlagen	9	38,6 Millionen US-Dollar
Pipeline-Infrastruktur	5	13,5 Millionen US-Dollar

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Kostenstruktur

Ausgaben für Arbeit und Fachkräfte

Im Geschäftsjahr 2022 beliefen sich die gesamten Arbeitskosten von Gulf Island Fabrication auf 45,3 Millionen US-Dollar. Das Unternehmen beschäftigte rund 382 Vollzeitmitarbeiter mit einem durchschnittlichen Jahresgehalt von 118.590 US-Dollar.

Mitarbeiterkategorie	Anzahl der Mitarbeiter	Durchschnittliche jährliche Vergütung
Management	42	$235,000
Ingenieurwesen	126	$145,000
Technische Arbeiter	214	$85,000

Kosten für die Beschaffung von Rohstoffen

Im Jahr 2022 beliefen sich die Beschaffungskosten für Rohstoffe auf insgesamt 87,6 Millionen US-Dollar, was 52 % der gesamten Betriebskosten entspricht.

• Stahlbeschaffung: 62,4 Millionen US-Dollar
• Aluminiumbeschaffung: 15,2 Millionen US-Dollar
• Andere Spezialmaterialien: 10 Millionen US-Dollar

Wartung und Abschreibung der Ausrüstung

Die jährlichen Kosten für die Wartung und Abschreibung der Ausrüstung beliefen sich im Jahr 2022 auf 23,7 Millionen US-Dollar.

Ausrüstungskategorie	Wartungskosten	Jährliche Abschreibung
Fertigungsmaschinen	12,5 Millionen US-Dollar	8,2 Millionen US-Dollar
Schweißgeräte	4,3 Millionen US-Dollar	3,1 Millionen US-Dollar
Transportmittel	6,9 Millionen US-Dollar	5,4 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

Die F&E-Investitionen beliefen sich im Jahr 2022 auf 5,6 Millionen US-Dollar, was 3,4 % des Gesamtumsatzes des Unternehmens entspricht.

Betriebs- und Gemeinkosten der Anlage

Die gesamten Betriebs- und Gemeinkosten der Anlage beliefen sich im Jahr 2022 auf 18,2 Millionen US-Dollar.

• Leasing und Miete der Einrichtung: 6,7 Millionen US-Dollar
• Versorgungsleistungen: 3,9 Millionen US-Dollar
• Versicherung: 2,6 Millionen US-Dollar
• Verwaltungsaufwand: 5 Millionen US-Dollar

Gulf Island Fabrication, Inc. (GIFI) – Geschäftsmodell: Einnahmequellen

Verträge zur Herstellung von Offshore-Plattformen

Umsatz aus der Herstellung von Offshore-Plattformen für 2023: 87,4 Millionen US-Dollar

Vertragstyp	Einnahmen	Prozentsatz des Gesamtumsatzes
Feste Plattformstrukturen	42,6 Millionen US-Dollar	48.7%
Offshore-Jackenstrukturen	33,2 Millionen US-Dollar	38.0%
Topside-Module	11,6 Millionen US-Dollar	13.3%

Bauprojekte für Seeschiffe

Umsatz aus dem Schiffsbau im Jahr 2023: 45,2 Millionen US-Dollar

• Offshore-Versorgungsschiffe: 24,7 Millionen US-Dollar
• Spezialisierte Marineschiffe: 15,5 Millionen US-Dollar
• Versorgungsschiffe: 5,0 Millionen US-Dollar

Reparatur- und Wartungsdienste

Jahresumsatz aus Reparatur- und Wartungsdiensten: 22,8 Millionen US-Dollar

Servicekategorie	Einnahmen
Wartung von Offshore-Plattformen	12,6 Millionen US-Dollar
Reparatur von Schiffsschiffen	7,2 Millionen US-Dollar
Modernisierung von Industrieanlagen	3,0 Millionen US-Dollar

Ingenieur- und Designgebühren

Umsatz aus Ingenieur- und Designdienstleistungen im Jahr 2023: 15,6 Millionen US-Dollar

• Offshore-Engineering-Designs: 9,3 Millionen US-Dollar
• Designdienstleistungen für Seeschiffe: 4,8 Millionen US-Dollar
• Kundenspezifische technische Beratung: 1,5 Millionen US-Dollar

Industrielle Fertigungslösungen

Umsatz aus der industriellen Fertigung im Jahr 2023: 18,9 Millionen US-Dollar

Fertigungssegment	Einnahmen	Prozentsatz der Gesamtsumme
Industrielle Stahlherstellung	11,4 Millionen US-Dollar	60.3%
Kundenspezifische Metallbauprojekte	4,5 Millionen US-Dollar	23.8%
Spezialisierte Fertigungsdienstleistungen	3,0 Millionen US-Dollar	15.9%

Gulf Island Fabrication, Inc. (GIFI) - Canvas Business Model: Value Propositions

You're looking at Gulf Island Fabrication, Inc. (GIFI) right now, and the value they offer is clearly shifting from traditional energy reliance toward a more durable mix. The core value proposition centers on their ability to handle heavy, critical fabrication work across different sectors.

Diversification into stable government and infrastructure end markets

Gulf Island Fabrication, Inc. is actively executing a strategy to diversify away from the volatile oil and gas sector, focusing on more stable areas like infrastructure and government services. This pivot is evidenced by recent major contract wins and strategic acquisitions. The company is a leading steel fabricator and service provider to the industrial, energy, and government sectors.

The acquisition of certain assets from ENGlobal Corporation in June 2025 specifically bolstered their engineering and government services businesses. This strategic move is already yielding results, as seen in the third quarter of 2025 (Q3 2025) where new project awards totaled $81.5 million, reflecting this diversified exposure. A concrete example is the fixed-price fabrication contract secured to support the rebuild of the Francis Scott Key Bridge, valued in excess of $35 million. Furthermore, Gulf Island Fabrication, Inc. is expanding into renewable energy and government marine infrastructure contracts. The Services division revenue for Q3 2025 was $21.5 million, showing a 6.2% year-over-year increase, largely attributed to the Englobal government services component.

Expertise in heavy steel fabrication for complex, schedule-driven projects

The company's established competency lies in fabricating complex steel structures and modules, which is critical for projects with tight deadlines. Their Houma, Louisiana facility offers a substantial footprint: a 450,000-square foot fabrication and operations facility situated on 160 acres. This capability was directly leveraged for the Francis Scott Key Bridge award, which utilizes their core competencies in steel fabrication, modular construction and time critical projects. The Fabrication division's performance in Q3 2025 strongly reflects this focus, posting revenue of $30.6 million, a significant increase of 78.6% compared to Q3 2024, driven by the large structural steel procurement for that infrastructure project.

Turnkey solutions by combining fabrication with supplemental engineering

The integration of ENGlobal's assets allows Gulf Island Fabrication, Inc. to offer more comprehensive solutions beyond just fabrication. They specialize in complex steel structures, modules, and automation systems, complemented by specialty services like engineering and project management. While this integration is ongoing and presents a near-term drag-with the ENGlobal business incurring operating losses of $1.0 million in Q3 2025 and an expected ~$1.0 million loss in Q4 2025-the long-term value is in the expanded service offering. This combination helps them provide a more complete package to clients.

Reliability and quality for critical energy and industrial infrastructure

Gulf Island Fabrication, Inc. maintains a commitment to strong execution, safety, and quality, which is essential when serving critical infrastructure clients. The company emphasizes maintaining strong execution and operating efficiency. The financial results for Q3 2025 demonstrate the underlying profitability of the core segments, even amidst integration costs. Here's a quick look at the segment profitability for Q3 2025:

Metric	Fabrication Division	Services Division
Revenue (Q3 2025)	$30.6 million	$21.5 million
EBITDA (Q3 2025)	$2.9 million	$1.3 million
EBITDA Margin (Q3 2025)	9.48%	6.0%

The consolidated results for Q3 2025 showed consolidated revenue of $51.5 million and an adjusted EBITDA of $2.5 million. The company's balance sheet supports this reliability, ending Q3 2025 with $64.6 million in cash and short-term investments against total debt of $19.0 million.

The value propositions can be summarized by the key areas of focus:

• Securing contracts like the $35 million+ Key Bridge award.
• Leveraging the 450,000-square foot Houma fabrication campus.
• Integrating new engineering and automation capabilities.
• Delivering segment EBITDA margins, such as 9.48% in Fabrication (Q3 2025).

Finance: draft 13-week cash view by Friday.

Gulf Island Fabrication, Inc. (GIFI) - Canvas Business Model: Customer Relationships

You're looking at how Gulf Island Fabrication, Inc. (GIFI) manages its connections with the entities that award it work, which is critical given the project-based nature of its business.

Dedicated project management for large, complex contracts

For major undertakings, Gulf Island Fabrication, Inc. deploys dedicated project management, which is essential for complex scopes like the structural components fabrication for the Francis Scott Key Bridge rebuild. This specific contract, announced in October 2025, is fixed-price with an estimated value in excess of $35 million. Project execution around heavy steel fabrication and modular construction is a core competency leveraged here, ensuring delivery on an expedited timeline. The Fabrication division's revenue in the third quarter of 2025 reached $30.6 million, partly due to procurement activities for this large structural steel components project. This level of commitment shows Gulf Island Fabrication, Inc. focuses its senior resources where the contract value is significant and the timeline is critical.

High-touch, long-term relationships with energy and industrial operators

Gulf Island Fabrication, Inc. maintains high-touch relationships with its core customer base in the energy and industrial sectors. These relationships are built over time, serving U.S. and, to a lesser extent, international energy producers, as well as refining, petrochemical, LNG, industrial, and power operators. To be fair, the Services division experienced softer trends in its traditional offshore maintenance activities in 2025, with revenue for that division in Q1 2025 being $19.9 million, a decrease of 22% year-over-year, reflecting lower capital spending by some of these energy customers. Still, the company sees these long-term relationships as a foundation for future work as market conditions shift, evidenced by the ongoing dialogue with customers regarding large projects that paused earlier in 2025.

• Customers include U.S. energy producers.
• Refining, petrochemical, LNG, industrial, and power operators are key.
• EPC companies also form a significant part of the client base.
• The company is actively working to diversify beyond the traditional energy end market.

Formal contracting process for federal, state, and local government work

The move into government work, partly through the Englobal acquisition in Q2 2025, involves a formal, often multi-year contracting structure. A concrete example is the task order awarded to the Englobal government services business from the U.S. Defense Logistics Agency (DLA) in September 2025. This fixed-price task order for an automated fuel handling system upgrade has an estimated value in excess of $7.0 million. What this estimate hides is that this is just one part of a broader indefinite-delivery, indefinite-quantity contract that enables the DLA to issue further task orders as needed through September 2029. This structure provides a more predictable revenue stream compared to some one-off industrial projects.

Here's a quick look at some of the recent, large, publicly announced contract values that shape the backlog:

Customer/Project Type	Award Date (Approximate)	Estimated Value (USD)	Customer Sector
Francis Scott Key Bridge Fabrication	October 2025	Over $35 million	Government/Infrastructure
DLA Fuel System Upgrade (Task Order)	September 2025	Over $7.0 million	Federal Government
Pre-Q3 2025 Structural Steel Project (Initial Award)	Q3 2025 (Limited Notice)	Approximately $20.0 million	Industrial/Energy

Finance: draft 13-week cash view by Friday.

Gulf Island Fabrication, Inc. (GIFI) - Canvas Business Model: Channels

You're looking at how Gulf Island Fabrication, Inc. (GIFI) gets its work done and delivers its value right now, late in 2025. It's a mix of big project bids and ongoing service work, all centered around their Gulf Coast footprint.

Direct sales and bidding to government and EPC entities

The channel for major fabrication and large-scale construction projects relies heavily on direct engagement with Engineering, Procurement, and Construction (EPC) entities and government bodies. This isn't about retail; it's about winning multi-million dollar, complex bids. For instance, the Englobal government services business secured a task order from the U.S. Defense Logistics Agency (DLA) in the third quarter of 2025, valued in excess of $7.0 million, which highlights this direct channel into federal work. This type of direct award is crucial for securing the Fabrication division's large structural steel components contracts, such as the one awarded to support the rebuild of the Francis Scott Key Bridge.

The revenue mix in the third quarter of 2025 shows how these direct sales translate:

Revenue Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Change
Consolidated Total Revenue	$51.5	Increase from prior year
Services Division Revenue	$21.5	Up 6.2%
Fabrication Division Revenue (Implied)	$30.0	Implied from total

The Services Division revenue of $21.5 million in Q3 2025 is a direct result of securing maintenance, repair, and specialty services contracts, often with industrial and energy operators.

Primary operating facilities in Houma, Louisiana and Houston, Texas

The physical assets are central to delivering the fabrication value proposition. Gulf Island Fabrication, Inc. operates its primary facilities in Houma, Louisiana, and maintains its corporate headquarters in Houston, Texas. The Houma location is the core of the heavy fabrication channel, offering direct water access to the Gulf of America.

Here are the hard numbers on the Houma footprint, which is strategically located on the Gulf Coast to support offshore and onshore projects:

• Total combined facility acreage: 663 acres.
• Total covered fabrication facilities: 501,000 square feet.
• Shipyard facility acreage: 437 acres.
• Fabrication & Services facility covered space: 341,000 square feet.
• Water frontage: 12,720 linear feet total, including 4,885 feet of steel bulkheads.

The Houston presence supports the overall operational structure, but Houma is where the heavy lifting happens.

Direct field service teams for maintenance and repair contracts

The Services Division channels revenue through its direct field service teams, which handle maintenance, repair, construction, and specialty services. This channel provides a more predictable revenue stream compared to the lumpy nature of large fabrication projects. The focus here is on time and materials (T&M) work, which management aims to increase. The Services Division's operating income for Q3 2025 was $0.8 million on revenues of $21.5 million. This division was significantly bolstered by the acquisition of ENGlobal's government services business in Q2 2025, which immediately contributed to the Services Division's revenue growth.

The company's total debt stood at $19.0 million as of September 30, 2025, with annual principal and interest payments of approximately $1.7 million through December 2038, showing financial discipline while supporting these service operations.

Finance: draft 13-week cash view by Friday.

Gulf Island Fabrication, Inc. (GIFI) - Canvas Business Model: Customer Segments

The customer base for Gulf Island Fabrication, Inc. (GIFI) is diversified across several critical industrial and governmental sectors as of late 2025.

The company's operations are segmented into Services and Fabrication, with Q3 2025 revenues reflecting activity across these customer groups:

Segment/Metric (Q3 2025)	Revenue Amount	EBITDA Amount
Fabrication Division Revenue	$30.6 million	$2.9 million
Services Division Revenue	$21.5 million	$1.3 million
Consolidated Revenue	$51.5 million	N/A

The Fabrication Division saw its revenue increase by 78.6% compared to Q3 2024, driven by a large structural steel components project. The Services Division revenue increased by 6.2% year-over-year, primarily due to the acquired Englobal government services business.

The core customer segments served by Gulf Island Fabrication, Inc. include:

• Federal, state, and local governments (e.g., bridge and marine infrastructure). A contract supporting the rebuild of the Francis Scott Key Bridge was awarded in Q3 2025.
• U.S. and international energy producers (offshore and onshore).
• Refining, petrochemical, LNG, industrial, and power operators.
• Engineering, Procurement, and Construction (EPC) companies.

A limited notice to proceed contract for approximately $20.0 million, related to structural steel project procurement, was received subsequent to the second quarter of 2025.

The Services Division's revenue stream is increasingly supported by government work following the acquisition of ENGlobal assets.

Gulf Island Fabrication, Inc. (GIFI) - Canvas Business Model: Cost Structure

You're looking at Gulf Island Fabrication, Inc. (GIFI) costs as the company integrates a major acquisition and navigates project execution. The cost structure is heavily influenced by the direct costs of fabrication work and the overhead/integration expenses from the recent Englobal Business purchase. Honestly, the near-term profitability is being compressed by these transition costs.

High cost of goods sold (materials and labor) for fabrication projects are reflected in the project margin mix. While the Fabrication division saw revenue growth, profitability was still affected by resource utilization issues tied to the new business units. The Services division, despite higher revenue, saw its operating income drop significantly, pointing to cost pressures or poor margin realization on projects.

Here's a quick look at the divisional operating results for Q3 2025, which clearly shows where the cost strains are hitting:

Metric	Q3 2025 Amount	Q3 2024 Amount	Primary Cost/Margin Driver Reflected
Consolidated Gross Profit	$4.88 million	Not Explicitly Stated	Overall project execution and material/labor costs
Fabrication Division Operating Income	$2.1 million	$2.0 million	Favorable small-scale margin mix offset by lower utilization
Services Division Operating Income	$0.8 million	$1.4 million	Less favorable project margin mix and Englobal resource underutilization

General and administrative expenses impacted by integration costs are visible in the Corporate Division results and the adjustments to EBITDA. The integration of the ENGlobal assets is a direct cost driver here. For the third quarter of 2025, Adjusted EBITDA excluded integration costs of $0.1 million associated with the Englobal Acquisition. This is down from the $1.8 million in transaction and related costs excluded from Adjusted EBITDA in the second quarter of 2025.

The Corporate Division itself carries significant fixed overhead. For Q3 2025, the operating loss for the Corporate Division was $1.8 million, which was the same as the operating loss reported for the third quarter of 2024. The Adjusted EBITDA loss for this division in Q3 2025 was $1.7 million, which excludes that $0.1 million integration cost.

The specific, large-scale impact from the acquired business is quantified as operating losses of $1.0 million in Q3 2025 from the Englobal Business. This loss is explicitly included in the calculation of consolidated Adjusted EBITDA for the quarter, showing it as a direct operating cost drag. The company projected that additional operating losses of approximately $1.0 million might be incurred during the fourth quarter of 2025 as that business transitioned out of bankruptcy.

Costs associated with facility maintenance and resource utilization are a key factor, particularly within the Fabrication division's EBITDA calculation. Lower utilization of facilities and resources in Q3 2025 resulted in operating losses of $0.6 million within the Fabrication division, specifically tied to the underutilization of resources for the Englobal automation business. Furthermore, the Services division's operating income decline was partly due to operating losses of $0.4 million from the underutilization of resources for the Englobal engineering business.

You can see the impact of reduced activity in other areas too. For instance, the Services division in Q1 2025 saw a revenue decline due to lower offshore maintenance activity. The company is actively managing these utilization issues by securing new, large-scale work, like the structural steel components contract for the Francis Scott Key Bridge rebuild.

• Operating losses from Englobal Business in Q3 2025: $1.0 million.
• Englobal Business operating losses in Q2 2025: $0.5 million.
• Q3 2025 Integration Costs excluded from Adjusted EBITDA: $0.1 million.
• Q2 2025 Transaction/Related Costs excluded from Adjusted EBITDA: $1.8 million.
• Fabrication Division loss from resource underutilization (Q3 2025): $0.6 million.

Finance: draft 13-week cash view by Friday.

Gulf Island Fabrication, Inc. (GIFI) - Canvas Business Model: Revenue Streams

You're looking at how Gulf Island Fabrication, Inc. (GIFI) brings in cash as of late 2025, especially after their strategic moves like acquiring Englobal assets. Honestly, the revenue picture is clearly split between their two main operational arms, with a big project currently driving one side.

The revenue breakdown for the third quarter of 2025 shows a clear split between the core divisions. The Fabrication division revenue hit $30.6 million in Q3 2025. Meanwhile, the Services division revenue brought in $21.5 million in Q3 2025. This gives a segment revenue total of $52.1 million for the quarter, which aligns closely with the reported consolidated revenue of $51.5 million for Q3 2025.

The revenue streams are anchored by the nature of the work each division performs. You see a mix of large, project-based income and more consistent, repeat business.

Here's a look at the composition of those revenue streams:

• Fixed-price contracts for large-scale fabrication, exemplified by the recent award for structural steel components supporting the rebuild of the Francis Scott Key Bridge.
• Recurring revenue from maintenance, repair, and specialty services, which forms the backbone of the Services Division's income.
• Revenue growth in the Services Division was primarily driven by the Englobal government services business.
• The Fabrication Division's revenue increase was partly due to the Englobal automation business integration.

To give you a clearer picture of where the money is coming from based on the Q3 2025 results and segment descriptions, look at this table. It maps the division revenue against the type of work they focus on:

Revenue Stream Source	Q3 2025 Revenue Amount	Primary Activity Focus
Fabrication Division	$30.6 million	Fabricating modules, skids, and piping systems for various industries
Services Division	$21.5 million	Maintenance, repair, construction, and specialty services
Large-Scale Fabrication Contracts	Contributes significantly to Fabrication revenue	Large structural steel components (e.g., bridge rebuild work)
Government Services (via Englobal)	Key driver for Services revenue	Government services business

It's important to note that while the large fabrication contract is a huge win, the management commentary mentioned a decline in small-scale fabrication activity during the quarter. Also, the Services division saw softer trends despite the government segment growth. So, you're definitely seeing a shift in the revenue mix, leaning into infrastructure and government work to balance the traditional energy sector focus.

Finance: draft 13-week cash view by Friday.