Conrad Inds Stock Price, News & Analysis

Conrad Industries, Inc. (CNRD) is a manufacturing company that focuses on the design, construction, overhaul and repair of steel marine vessels and related steel products. According to the company’s public disclosures, Conrad Industries was established in 1948 and is headquartered in Morgan City, Louisiana. Its common stock trades on the OTC Pink market under the symbol CNRD.

The company operates in the broader manufacturing sector with a specialization in steel marine vessel construction and repair. Conrad Industries reports that it designs, builds and overhauls a variety of steel marine vessels and equipment for both commercial and government markets. This activity positions the company within the marine and shipbuilding segment of the manufacturing industry rather than traditional heavy duty truck manufacturing.

Business activities and services

Conrad Industries states that it designs, builds and overhauls a wide variety of steel marine vessels. These include barges, dredges and dredge support equipment, tugboats, ferries, drydocks, liftboats, offshore supply or support vessels, and other steel products. The company notes that it serves both commercial and government customers, indicating exposure to multiple end markets within marine transportation, infrastructure and government-related projects.

The company also reports that it provides repair, conversion and new construction services. Repair and conversion work allows customers to maintain, modify or extend the useful life of existing vessels, while new construction contracts involve building new barges, vessels and other steel products. Conrad Industries has indicated that it signs contracts in its new construction segment and tracks a backlog of contracted work, which reflects the volume of projects it has committed to complete.

Operational footprint

Conrad Industries reports that it operates five shipyards located in southern Louisiana and Texas. These shipyards support its repair, conversion and new construction activities. The company highlights its shipyard capacity and investments in improving capabilities and efficiency as important factors in its operations. This network of facilities underpins its ability to handle multiple projects and different vessel types for commercial and government customers.

Markets and customers

Based on the company’s own descriptions, Conrad Industries serves both commercial and government markets. Commercial customers may require barges, tugs, ferries, dredges and related equipment for transportation, infrastructure and industrial uses. Government customers can include agencies that contract for specialized vessels and support equipment. The company has referenced activity in infrastructure and government markets, as well as opportunities in areas such as repair and conversions.

Conrad Industries has also discussed a backlog of work associated with its new construction segment. Backlog figures, which are disclosed in its public releases, show the value of contracted projects that the company expects to execute. While specific backlog amounts change over time, the presence of a reported backlog indicates that the company often works under multi-project, multi-period contract arrangements.

Public reporting and trading

The company states that its financial reports are available through OTC Markets, reflecting its status as an OTC Pink issuer. It periodically announces results for quarters and full years, including net income or loss and backlog levels, through press releases. These announcements provide insight into its operating environment, including factors such as steel prices, inflation, labor conditions, supply chain issues and demand in its core markets. However, detailed financial statements and regulatory filings are accessed separately through OTC Markets rather than the SEC’s EDGAR system, as there are no recent SEC filings listed in the provided data.

Company history and sector context

Conrad Industries notes that it was established in 1948, indicating a long operating history in marine construction and repair. Over this time, it has developed capabilities in building and overhauling a range of steel vessels and support equipment. The company’s focus on barges, dredges, tugboats, ferries, drydocks, liftboats and offshore supply or support vessels places it within the marine and shipyard segment of the manufacturing sector.

In its public commentary, the company has described operating conditions that include changing steel prices, inflation, labor market tightness, supply chain disruptions and interest rate movements. It has also referenced opportunities in infrastructure and government markets and has mentioned contracts such as a Yard, Repair, Berthing and Messing (YRBM) barge for the U.S. Navy as part of its governmental business. These statements come from the company’s own press releases and illustrate some of the factors that influence its project mix and profitability over time.

Capital allocation and corporate governance notes

Conrad Industries has reported that its board of directors authorized a program to purchase a specified dollar amount of its common stock, with potential purchases to be funded by cash on hand or cash generated from operations. The company has also announced changes to its board of directors, including the appointment of a new director and the retirement of an existing director. These disclosures provide some insight into how the company approaches capital allocation and board composition, but do not change the core description of its operating business.

Summary

In summary, Conrad Industries, Inc. (CNRD) is a manufacturing company headquartered in Morgan City, Louisiana, with a long history in the design, construction, overhaul and repair of steel marine vessels and related steel products. It serves both commercial and government markets, operates five shipyards in southern Louisiana and Texas, and reports financial results and backlog information through OTC Markets and public press releases. Its activities center on barges, dredges and dredge support equipment, tugboats, ferries, drydocks, liftboats, offshore supply or support vessels and other steel products, along with associated repair, conversion and new construction services.