Earnings Reports

Conrad Reports Improved Q2 Earnings

Conrad Industries Inc. reported August 14 that it had net earnings of $482,000 or 10 cents per share for the second quarter. A year ago, the company reported a net loss of $2.2 million for the second quarter of 2019.

For the first half of 2020, the company reported net income of $896,000, compared to a net loss of $2.5 million for the first half of 2019.

Conrad, which operates five shipyards in southern Louisiana and Texas, reported that the backlog in its new construction segment was $133 million as of June 30, up from $79.2 million as of December 31, 2019. In June, the company signed the biggest contract in its history, for a new 6,500-cubic-yard-capacity trailing suction hopper dredge for Great Lakes Dredge & Dock Corporation (WJ, June 15).

Since the end of the second quarter, the company has signed an additional $14.1 million in contracts.

Conrad Industries is headquartered in Morgan City, La.