Gulf Island Fabrication, Inc. (GIFI)

The most significant event was the merger agreement with IES Holdings, Inc., announced on November 7, 2025, where IES Holdings agreed to acquire Gulf Island for $12.00 per share. Gulf Island shareholders approved this acquisition on January 13, 2026, with finalization expected on January 16, 2026, after which GIFI's stock will be delisted from Nasdaq. Other events include Q2 and Q3 2025 earnings reports, a large structural steel components contract for the Francis Scott Key Bridge rebuild, and a government services contract in September 2025.

Gulf Island Fabrication experiences seasonality in its Services division, with less work in the fourth quarter due to holidays. The offshore wind industry sees a surge in turbine installations during the summer months due to favorable weather, while installations slow in winter. The marine industry is influenced by seasonal factors affecting maintenance activities, and the oil and gas industry experiences seasonal demand fluctuations.

Gulf Island Fabrication, Inc. specializes in complex steel structures and modules for the industrial, energy, and government sectors. The company delivers steel foundations and topside modules for offshore oil and gas platforms, floating production systems, and support vessels. GIFI has diversified into fabrication services for offshore wind farms, supplying monopiles, transition pieces, and substructures. Its product portfolio includes jackets, piles, topside decks, hulls, living quarters, and utility modules. Gulf Island also provides maintenance, repair, construction, project management, and industrial staffing services, and fabricates modules, skids, and piping systems for onshore facilities.

Gulf Island Fabrication, Inc. is headquartered in The Woodlands, Texas, with its primary fabrication yard in Port Arthur, Texas, and facilities along the U.S. Gulf Coast, including Houma, Louisiana. These yards offer deep-water access. The company's services extend to international markets in the Americas, Africa, and Asia, providing onshore construction, export logistics, and field installation support.

Gulf Island Fabrication emphasizes safety, quality assurance, and continuous improvement. Recent contract awards, such as the Francis Scott Key Bridge project and a government services contract, demonstrate its capabilities and reliability. The pending acquisition by IES Holdings suggests a favorable assessment of Gulf Island's business and standing in the industry.

The ownership structure of Gulf Island Fabrication, Inc. includes institutional, insider, and retail investors. Major institutional holders include Wax Asset Management LLC, Kokino LLC, First Wilshire Securities Management Inc., The Vanguard Group Inc., Renaissance Technologies LLC, Dimensional Fund Advisors LP, Global Value Investment Corp., and BlackRock, Inc. Richard W. Heo, the President and CEO, is a significant individual owner. Institutional ownership was approximately 34.38% as of September 2025, with insider ownership at 24.99%.