Conrad signs $51.8M in contracts in 1Q

Conrad Industries Inc. (OTC Pink: CNRD) announced net income of $1.5 million and earnings per diluted share of $0.30 for the first quarter of 2024, compared to a net loss of $5.1 million and loss per diluted share of $1.01 during the first quarter of 2023.
The company’s financial reports are available at www.otcmarkets.com. 
During the first three months of 2024, Conrad signed $51.8 million in contracts in its new construction segment compared to $47.0 million added to backlog during the first three months of 2023.
Conrad’s backlog was $247.3 million at March 31, 2024, $253.8 million at Dec. 31, 2023, and $221.8 million at March 31, 2023. Since the end of the first quarter, the company has signed an additional $25 million in contracts. 
Conrad Industries Inc., established in 1948 and headquartered in Morgan City, designs, builds and overhauls barges, dredges and dredge support equipment, tugboats, ferries, dry docks, lift boats, offshore supply vessels, and other steel products for both the commercial and government markets.
The company provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas.