CONRAD INDUS INC - CNRD STOCK NEWS

Conrad Industries (OTC Pink: CNRD) reported positive financial results for Q2 2024 and the first half of the year. The company achieved net income of $2.2 million and earnings per diluted share of $0.44 in Q2 2024, compared to a net loss in the same period of 2023. For the first six months of 2024, Conrad recorded net income of $3.7 million and earnings per diluted share of $0.75.

The company's new construction segment secured $116.5 million in contracts during H1 2024, though this was lower than the $191.0 million added to backlog in H1 2023. Conrad's backlog stood at $244.9 million as of June 30, 2024, with an additional $32.8 million in contracts signed after the quarter's end.

Conrad Industries (OTC Pink: CNRD) reported its first quarter 2024 results, showing a net income of $1.5 million and earnings per diluted share of $0.30, a significant recovery from the net loss of $5.1 million and loss per diluted share of $1.01 in Q1 2023. The company signed $51.8 million in new construction contracts during Q1 2024, up from $47.0 million in Q1 2023, and reported a backlog of $247.3 million as of March 31, 2024. Additional $25.0 million in contracts have been signed since the quarter ended. Conrad Industries operates five shipyards in Louisiana and Texas, focusing on building and overhauling various marine vessels and steel products for commercial and government markets.

Conrad Industries, Inc. reported a net loss of $27.0 million for 2023, with a backlog of $253.8 million. Challenges like high steel prices, inflation, and supply chain disruptions impacted the company's performance. Despite uncertainties, Conrad Industries remains optimistic about future opportunities.

Conrad Industries, Inc. (CNRD) reported a net loss of $3.2 million for the quarter ended September 30, 2023, compared to a net loss of $5.3 million in the same period in 2022. The company's nine months ended September 30, 2023, resulted in a net loss of $14.1 million, compared to a net loss of $8.8 million in the same period in 2022. The backlog for Conrad's new construction segment was $203.7 million for the first nine months of 2023, down from $251.0 million in the same period in 2022. The CEO attributed the net loss to complex projects signed during the COVID-19 pandemic, affected by supply chain and inflationary issues.

Conrad Industries, Inc. (OTC Pink: CNRD) reported a significant net loss of $17.4 million for 2022, down from a net income of $6.5 million in 2021. The loss per diluted share increased to $3.47, influenced by higher labor and material costs related to new construction projects. However, the company noted a robust backlog of $244.1 million, which has increased from $148.5 million the previous year. Despite facing substantial uncertainties and inflationary pressures, CEO Johnny Conrad expressed optimism about future opportunities and strong bid activity in early 2023.

Conrad Industries, Inc. (CNRD) reported a significant financial decline for Q3 2022, with a net loss of $5.3 million compared to a net loss of $578,000 in Q3 2021. For the first nine months of 2022, the company experienced a net loss of $8.8 million, contrasting with a net income of $8.7 million for the same period in 2021. However, Conrad's backlog reached a record high of $260.5 million as of September 30, 2022, up from $163.5 million a year earlier, reflecting a robust addition of $251.0 million to its new construction segment.

On November 11, 2022, Conrad Industries (CNRD) announced the appointment of Larry J. Callais as an independent Class I director to its Board of Directors. Callais, a seasoned banker and former CEO of M C Bank, will also join the Independent Directors Committee. His extensive experience in the financial services sector is expected to bring valuable insights to the company. This strategic addition aims to strengthen the board's capacity as Conrad Industries continues to enhance its operational excellence in shipbuilding and repair.

Conrad Industries reported a net loss of $3.4 million for Q2 2022, translating to a loss per diluted share of $0.67, a stark contrast to a net income of $8.6 million and earnings per share of $1.71 in Q2 2021. For the first half of 2022, the company recorded a net loss of $3.5 million, down from a net income of $9.3 million in 2021. Notably, the backlog reached $245.1 million, the second-highest in history, boosted by $198.8 million in new construction contracts, significantly up from $60.8 million in the same period last year.