Conrad Reports Steeper Loss In First Quarter

Conrad Industries reported May 15 that it had a net loss of $5.1 million, or $1.01 per share, for the first quarter of 2023. For the same quarter a year ago, the company reported a net loss of $116,000 or $.02 per share.

First-quarter revenues were $77.2 million, up from $62.5 million a year ago.

During the first three months of 2023, Conrad signed $47 million in contracts in its new-construction segment compared to $41.1 million added to backlog during the first three months of 2022. Conrad’s backlog was $221.8 million at March 31, 2023; $244.1 million at December 31, 2022; and $136.5 million at March 31, 2022. Since the end of the first quarter, the company has signed an additional $13.9 million in contracts.