Posted on August 16, 2023
Conrad Industries, Inc. (OTC Pink: CNRD) has released its financial results for the second quarter and six months ended June 30, 2023, as well as its backlog at June 30, 2023.
During the second quarter of 2023, Conrad reported a net loss of $5.9 million and a loss per diluted share of $1.18. This is compared to a net loss of $3.4 million and a loss per diluted share of $0.67 in the second quarter of 2022.
For the six months ended June 30, 2023, the company incurred a net loss of $11.0 million and a loss per diluted share of $2.18. In the same period last year, Conrad had a net loss of $3.5 million and a loss per diluted share of $0.69.
Conrad’s backlog for new construction segment increased by $191.0 million in the first six months of 2023, compared to $198.8 million in the same period of 2022. The company’s backlog stood at $323.7 million at June 30, 2023, $244.1 million at December 31, 2022, and $245.1 million at June 30, 2022.
Conrad Industries, Inc., founded in 1948 and located in Morgan City, Louisiana, specializes in designing, building, and overhauling various steel products for the commercial and government markets. Their offerings include barges, dredges and dredge support equipment, tugboats, ferries, drydocks, liftboats, and offshore supply vessels. The company operates five shipyards in southern Louisiana and Texas, where they provide repair and new construction services.