Upgraded guidance and positive outlook for Gulf Marine Services
- Gulf Marine Services raises full-year guidance
- Expects earnings to improve further in 2024
- Backlog visibility and market outlook driving growth
- Ebitda expected to be between $83 million and $86 million for 2023
- Ebitda projected to improve to $87 million to $95 million for 2024
- Strong interest for support vessels in maintenance and new energy projects
Gulf Marine Services has upgraded its full-year guidance and expects earnings to improve further in 2024. The company attributes this growth to a significant improvement in backlog visibility and market outlook. The London-listed provider of support vessels for the offshore oil, gas, and renewables industries now expects Ebitda in the range of $83 million to $86 million for 2023, compared to the previous guidance range of $77 million to $85 million. Looking ahead to 2024, Gulf Marine Services projects Ebitda to improve to between $87 million and $95 million. Chair Mansour Al Alami expressed confidence in the company’s prospects, citing strong interest for their vessels in maintenance projects and new initiatives to meet growing energy requirements. The recent contracts announcement also allows Gulf Marine Services to benefit from a more balanced geographical distribution of their fleet.
Factuality Level: 8
Factuality Justification: The article provides specific information about Gulf Marine Services upgrading its full-year guidance and expecting improved earnings in 2024. The statements are attributed to the company’s Chair, Mansour Al Alami. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. The information provided is specific and focused on the company’s financial outlook.
Noise Level: 8
Noise Justification: The article provides information on Gulf Marine Services’ upgraded guidance and expected earnings improvement. However, it lacks evidence, data, or examples to support these claims. It also does not provide any actionable insights or solutions for the reader. The article stays on topic and does not dive into unrelated territories, but it lacks scientific rigor and intellectual honesty.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the offshore oil, gas, and renewables industries.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: This news article pertains to the financial performance and outlook of Gulf Marine Services, a provider of support vessels for the offshore oil, gas, and renewables industries. It provides information on the company’s upgraded full-year guidance and expectations for improved earnings in 2024. There is no mention of any extreme event or its impact.
Public Companies: Gulf Marine Services (N/A)
Key People: Mansour Al Alami (Chair)
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