Welcome to our dedicated page for Conrad Industries news (Ticker: CNRD), a resource for investors and traders seeking the latest updates and insights on Conrad Industries stock.
Conrad Industries, Inc. is an international embroidery company with a rich history dating back to 1892 in Plauen, Germany. With a strong presence in three countries and a fifth-generation business, Conrad Industries continues to expand its operations and offerings.
The company focuses on designing, building, and overhauling a wide range of marine vessels and steel products for both commercial and government markets. With five shipyards in southern Louisiana and Texas, Conrad Industries offers repair and new construction services for barges, dredges, tugboats, ferries, and more.
Recent financial reports indicate a net loss of $27.0 million for the twelve months ended December 31, 2023, attributed to challenges such as high steel prices, inflation, supply chain disruptions, and labor market issues. Despite these obstacles, Conrad Industries remains optimistic about its future prospects, emphasizing its capacity, investments in efficiency, and experienced team.
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.
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