Conrad Industries, Inc. reports operating results, backlog levels and contract activity for its shipyard business. The company designs, builds and overhauls barges, dredges and dredge support equipment, tugboats, ferries, drydocks, liftboats, offshore supply vessels and other steel products for commercial and government customers.
Recurring CNRD news includes quarterly and annual earnings, new construction segment contract additions, backlog comparisons, vessel repair and new-build demand, and updates tied to government and infrastructure work, including U.S. Navy Yard, Repair, Berthing and Messing barge awards. Company announcements also cover operating conditions such as steel costs, material availability and labor constraints, along with board changes and common stock repurchase authorizations.
Conrad Industries, Inc. (CNRD) reported its financial results for Q3 2021, showing a net loss of $578,000 ($0.12 per share) compared to a loss of $3.6 million ($0.72 per share) in Q3 2020. For the first nine months, the company achieved a net income of $8.7 million ($1.74 per share), up from a net loss of $2.7 million in 2020, primarily due to forgiveness of a Paycheck Protection loan. Backlog at September 30, 2021, was $163.5 million, a decrease from $183.7 million at the end of 2020.
Conrad Industries, Inc. (CNRD) reported strong financial results for Q2 and the first half of 2021. Net income reached $8.6 million in Q2, a significant increase from $482,000 in the same period last year. Earnings per diluted share were $1.71, up from $0.10 in Q2 2020. For the six months ending June 30, 2021, net income was $9.3 million, compared to $896,000 in 2020. The positive results are attributed to the forgiveness of a Paycheck Protection loan and qualification for the Employee Retention Credit. The company added $60.8 million to its backlog for new construction.
Conrad Industries, Inc. (OTC Pink: CNRD) reported its first quarter 2021 results, showing a net income of $705,000 or $0.14 per diluted share, up from $414,000 or $0.08 per diluted share in Q1 2020. The backlog increased to $193.4 million as of March 31, 2021, from $183.7 million at year-end 2020 and $36.6 million a year prior. Founded in 1948 and based in Morgan City, Louisiana, the company specializes in designing, building, and overhauling a variety of marine vessels.
Conrad Industries (OTC Pink: CNRD) reported a net loss of $4.0 million for 2020, compared to a net income of $86,000 in 2019, resulting in a loss per diluted share of $0.80 versus $0.02. The company's backlog surged to $183.7 million, up significantly from $79.2 million in 2019. The impact of COVID-19 affected production volume, though a Paycheck Protection Program loan helped retain employees and improve financial stability. The CEO highlighted optimism for future prospects despite ongoing challenges like high steel prices and competition.
Conrad Industries reported a significant turnaround in its financial results for Q2 2020, achieving a net income of $482,000 and earnings of $0.10 per diluted share, compared to a net loss of $2.2 million or ($0.44) per share in Q2 2019. For the first half of 2020, net income reached $896,000 with earnings of $0.18 per share, up from a net loss of $2.5 million in 2019. The company secured a record contract and increased its backlog to $133.0 million, contributing $119.7 million in new construction backlog during H1 2020.