Gulf Turbine Services
Gas-Turbine MRO / Field ServiceGulf / ERCOTUSD thousands
| Income Statement | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Revenue & direct costs | |||
| Revenue | 64,000 | 70,500 | 77,000 |
| Direct cost — material | 13,276 | 14,474 | 15,671 |
| Direct cost — subcontracts | 8,679 | 9,464 | 10,247 |
| Direct cost — labor | 22,465 | 24,496 | 26,521 |
| Direct cost — equipment | 4,085 | 4,453 | 4,822 |
| Direct cost — other | 2,552 | 2,784 | 3,015 |
| Total direct costs | 51,057 | 55,671 | 60,276 |
| Operating | |||
| Gross profit | 12,943 | 14,829 | 16,724 |
| Operating expenses (G&A) | 8,000 | 8,770 | 9,270 |
| Operating income | 4,943 | 6,059 | 7,454 |
| Other income / (expense) | |||
| Interest expense | (650) | (720) | (780) |
| Other income / (expense), net | 200 | 250 | 310 |
| Total other income / (expense) | (450) | (470) | (470) |
| Net | |||
| Net income before taxes | 4,493 | 5,589 | 6,984 |
| Income taxes | (1,125) | (1,398) | (1,747) |
| NET INCOME | 3,368 | 4,191 | 5,237 |
| Less: net income attributable to NCI | 263 | 326 | 406 |
| Net income attributable to GTS | 3,105 | 3,865 | 4,831 |
| Supplemental | |||
| Depreciation & amortization | 1,450 | 1,600 | 1,720 |
| EBITDA | 6,393 | 7,659 | 9,174 |
| Backlog | 39,680 | 43,710 | 47,740 |