Conrad Inds Stock Price, News & Analysis

Conrad Industries (OTC Pink: CNRD) reported significant financial improvement in 2024, posting a net income of $11.2 million ($2.24 per diluted share), compared to a net loss of $27.0 million in 2023. The company's backlog increased to $293.8 million as of December 31, 2024, up from $253.8 million in 2023.

The company benefited from stabilizing steel prices, lower inflation, and interest rates in 2024, despite these factors remaining relatively high and continued tight labor markets. The new construction segment saw market improvements, particularly in infrastructure and government markets.

However, 2025 brings new challenges including steel tariffs, rising steel prices, uncertain inflation outlook, and shifting U.S. trade policies. Despite these headwinds, Conrad Industries maintains optimism due to its shipyard capacity, continued investments, and recent U.S. Navy contract for a ninth YRBM barge.

Conrad Industries (OTC Pink: CNRD) has announced the appointment of Jack Waldo to its Board of Directors and Independent Directors Committee, effective January 28, 2025, following the retirement of Michael J. Harris. Waldo brings significant industry expertise from his 17-year tenure at Stephens Inc. as an investment banker and research analyst focused on transportation and logistics.

Currently serving as co-CEO of Dental Depot, a private dentistry group with 46 locations across four states, Waldo has demonstrated operational leadership since joining the company in 2017. He also serves on the boards of United Petroleum Transport and the Samuel Roberts Noble Foundation.

Conrad Industries, founded in 1948 and based in Morgan City, Louisiana, specializes in designing, building, and overhauling various marine vessels and steel products for both commercial and government markets through its five shipyards in Louisiana and Texas.

Conrad Industries (OTC Pink: CNRD) reported strong Q3 2024 results with net income of $7.5 million ($1.49 per share), compared to a loss of $3.2 million in Q3 2023. Nine-month earnings reached $11.2 million ($2.24 per share), versus a $14.1 million loss in the same period of 2023. The improved performance was driven by better gross profits in new construction and an $8.04 million lawsuit settlement. The company's backlog stood at $282.2 million as of September 30, 2024, with $218.4 million in new construction contracts signed during the first nine months, and an additional $27.7 million in contracts secured after Q3.

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. (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.