Gulf Marine Services PLC

Equities

GMS

GB00BJVWTM27

Oil & Gas Transportation Services

Delayed London S.E. Other stock markets 09:25:23 2024-05-01 am EDT			5-day change	1st Jan Change
21.5 ^GBX	-1.40%		-7.75%	+48.24%

Apr. 08	CMC rises again; Gulf Marine returns gains	AN
Apr. 05	Topps Tiles falls again; Gulf Marine rises	AN

Gulf Marine Services raises 2023 earnings guidance to 20% increase

January 17, 2024 at 06:52 am EST

(Alliance News) - Gulf Marine Services PLC on Wednesday updated its guidance for 2023, saying it now expects to report higher earnings than originally expected.

The London-based provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewable energy sectors said adjusted earnings before interest, tax, depreciation and amortisation for 2023 will be about USD86 million, having previously guided between USD83 million and USD86 million.

This would be a 20% increase from the USD71.5 million recorded in 2022.

The company reconfirmed its adjusted Ebitda guidance for 2024 at USD87 million to USD95 million, as much as a 10% increase from 2023.

Shares in Gulf Marine Services were up 5.0% to 14.85 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BRENT CRUDE OIL SPOT	85.16 USD	-0.85%	-3.69%	-
WTI	80.74 USD	-0.47%	-3.21%	-
GULF MARINE SERVICES PLC	21.5 GBX	-1.40%	-7.75%	278M

Latest news about Gulf Marine Services PLC

CMC rises again; Gulf Marine returns gains	Apr. 08	AN
Topps Tiles falls again; Gulf Marine rises	Apr. 05	AN
US initial jobless claims hotter than expected	Apr. 04	AN
Gulf Marine shares rise as posts annual growth and sets out guidance	Apr. 04	AN
CAB rises on Europe win; Gulf Marine jumps	Apr. 04	AN
Gulf Marine Services PLC Reports Earnings Results for the Full Year Ended December 31, 2023	Apr. 04	CI
Gulf Marine Services inks contract for vessel in Middle East	Mar. 11	AN
Vanquis shares hit by profit warning	Mar. 11	AN
Gulf Marine Services plc Announces the Signing of the First of A Two Phase, Four-Year Contract for One of Its Vessels Operating in the Middle East	Mar. 11	CI
Gulf Marine Services Extends, Secures New Contracts in Middle East	Feb. 28	MT
Gulf Marine Services wins contract and award for Middle East vessels	Feb. 28	AN
Halfords plummets on profit warning	Feb. 28	AN
Gulf Marine Services plc Announces the Signing of A Contract Extension for One of Its Vessels Currently Operated in the Middle East	Feb. 28	CI
Gulf Marine Services raises 2023 earnings guidance to 20% increase	Jan. 17	AN
888 revenue drops; Gulf Marine ups outlook	Jan. 17	AN
Card Factory falls despite Christmas boost	Jan. 16	AN
Gulf Marine Services inks contracts for small class vessels	Jan. 08	AN
Gulf Marine Services Signs New Contract	Jan. 08	MT
Gulf Marine Services PLC Announces New Contracts	Jan. 08	CI
Gulf Marine Services PLC(LSE:GMS) added to FTSE All-Share Index	Dec. 18	CI
FTSE 100 Closes Flat After Subdued Session	Nov. 06	DJ
Gulf Marine Services shares jump on three contract awards	Nov. 01	AN
Gulf Marine Services Bags Gulf Cooperation Council Contracts; Stock Rises	Nov. 01	MT
Gulf Marine Services plc Announces Three Contract Awards	Nov. 01	CI
Gulf Marine Services PLC Appoints Haifa Al Mubarak as Independent Non-Executive Director	23-10-11	CI

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Company Profile

Gulf Marine Services PLC is a United Kingdom-based operator of self-propelled and self-elevating support vessels (SESVs). The Company and its subsidiaries are investing in, establishing and managing commercial and industrial projects, as well as chartering and operating a fleet of vessels. The Company constructs and maintains its vessels in Abu Dhabi. The vessels are capable of operations in the Middle East, South East Asia, West Africa and Europe. It operates through three segments: Small Class vessels, which include the Naashi, Kamikaze, Kikuyu, Kawawa, Kudeta, Keloa, Kinoa and Pepper vessels; Mid-Size Class vessels, which include the Shamal and Scirocco vessels; Large Class vessels, which include the Endeavour, Endurance and Enterprise vessels, and Other vessels, which include over two legacy non-SESV vessels and an accommodation barge (Khawla), which do not form part of the Small, Mid-Size or Large Class vessels segments.

Sector

Oil & Gas Transportation Services

Calendar

2024-09-29 - Q2 2024 Earnings Release (Projected)

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Ratings for Gulf Marine Services PLC

Trading Rating

Investor Rating

ESG Refinitiv

C+

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.273 USD

Average target price

0.328 USD

Spread / Average Target

+20.13%

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