ENglobal Acquisition
Gulf Island acquired assets from ENglobal, expanding their product offerings into automation, engineering, and government services. The integration is progressing well, with positive initial reception and strategic benefits anticipated.
New Project Award
Post-quarter, Gulf Island received a limited notice to proceed contract worth approximately $20 million for a structural steel project, with expectations for a total contract value of $35 million. This highlights continued opportunities in the fabrication market.
Strong Liquidity Position
The company ended the quarter with a cash and short-term investments balance of approximately $62 million, providing flexibility for growth and capital return.
Opportunities in Diversified Markets
Gulf Island is seeing increased dialogue and opportunities in LNG and petrochemical markets, alongside benefits from tariffs and U.S. manufacturing policies.