Conrad Earns $116m in Contracts 1H '24

August 15, 2024

Conrad Shipyard held a ceremony at its shipyard in Amelia, La. recognizing the first-of-class yard, repair, berthing, messing vessel (YRBM) it is building for the U.S. Navy. (Photo courtesy Conrad Industries)

U.S. shipbuilding group Conrad Industries, Inc. announced its second quarter and six months ended June 30, 2024 financial results and backlog at June 30, 2024.

For the quarter ended June 30, 2024, Conrad had net income of $2.2 million and earnings per diluted share of $0.44 compared to net loss of $5.9 million and loss per diluted share of $1.18 during the second quarter of 2023. The company had net income of $3.7 million and earnings per diluted share of $0.75 for the six months ended June 30, 2024 compared to net loss of $11 million and loss per diluted share of $2.18 for the six months ended June 30, 2023.

During the first six months of 2024, Conrad signed $116.5 million in contracts in its new construction segment compared to $191 million added to backlog during the first six months of 2023. Conrad’s backlog was $244.9 million at June 30, 2024, $253.8 million at December 31, 2023 and $323.7 million at June 30, 2023. Since the end of the second quarter, the company has signed an additional $32.8 million in contracts.