Conrad Reports Third Quarter Loss, But Bigger Backlog

Conrad Industries Inc. reported November 16 a net loss of $3.6 million, or -72 cents per share, for the third quarter. That compares to net income of $938,000, or 20 cents per share, for the same quarter in 2019.

For the first nine months of 2020, the company reported a net loss of $2.7 million, or -54 cents per share; a year ago, the company lost $1.5 million or -30 cents per share for the same period.

On the bright side, however, Conrad added $171.7 million of backlog to its new construction segment during the first nine months of this year. As of September 30, Conrad’s backlog was $160.4 million. A year earlier, the company’s backlog was $89.2 million.

Headquartered in Morgan City, La., Conrad Industries provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas.