MORGAN CITY, La., March 31, 2025/ PRNewswire/– Conrad Industries, Inc. (OTC Pink: CNRD) today revealed its 2024 outcomes and stockpile.
The Business reported earnings of $ 11.2 million and earnings per diluted share of $ 2.24 for the twelve months ended December 31, 2024 compared to bottom line of $ 27.0 million and loss per diluted share of $ 5.39 for the twelve months ended December 31, 2023 The Business’s monetary reports are readily available at www.otcmarkets.com.
Our stockpile since December 31, 2024 was $ 293.8 million, compared to $ 253.8 million at December 31, 2023, and $ 244.1 million at December 31, 2022
Johnny Conrad, Chairman and CEO specified, “Our operating results for 2024 enhanced in spite of an ongoing difficult environment. While we took advantage of typically supporting steel costs, lower inflation and lower rate of interest in 2024 compared to 2023, these aspects have actually stayed reasonably high and our labor markets continue to be tight. In our brand-new building and construction section, we experienced an enhancing market throughout 2024, especially in the facilities and federal government markets. As an outcome, we achieved success in including significant brand-new stockpile throughout the year.”
Mr. Conrad continued, “In the very first quarter of 2025, we have actually experienced brand-new steel tariffs, increasing steel costs, an uncertain inflation outlook and moving U.S. trade policy and diplomacy. These aspects add to a more unpredictable outlook for the rest of the year. In spite of these headwinds, our company believe we are well placed with a number of competitive benefits, including our shipyard capability, continued financial investments in ability and effectiveness, and the strength of our skilled management, engineering groups, and committed staff members. Our track record for quality and our dedication to work environment security likewise stay crucial differentiators. We continue to see enhancing characteristics in the majority of the marketplaces in which we get involved. Opportunities have actually ended up being more plentiful in the facilities market, and we continue to grow our relationships with our governmental consumers. Furthermore, we are motivated by chances in our repair work and conversions section.”
Mr. Conrad concluded, “We are positive about the long-lasting potential customers for our service. The current award by the U.S. Navy for a ninth Lawn, Repair work, Berthing and Messing (” YRBM”) barge even more confirms our tactical concentrate on broadening our governmental service. Our capability to provide services and products throughout a varied client base and to react to require for brand-new kinds of vessels is a core strength. As we go back to success after a number of difficult years, we stay concentrated on performing our stockpile effectively and pursuing brand-new, lucrative jobs. Our goal is to continue producing worth for our investors, staff members, consumers, providers, and the neighborhoods where we run.”
Conrad Industries, Inc., developed in 1948 and headquartered in Morgan City, Louisiana, styles, develops and revamps barges, digs up and dig up assistance devices, tugboats, ferryboats, drydocks, liftboats, overseas assistance vessels and other steel items for both the business and federal government markets. The business offers both repair work and brand-new building and construction services at its 5 shipyards situated in southern Louisiana and Texas
Cautionary declaration: This news release includes positive declarations, which are all declarations aside from those of historic realities, and show our expectations since the date of this news release about future occasions. When utilized in this news release, the words “prepare for,” “think,” “price quote,” “anticipate,” “task,” and comparable expressions are meant to determine forward looking declarations. Such declarations show our existing views with regard to future occasions and go through specific dangers, unpredictabilities and presumptions, consisting of dangers and unpredictabilities associated with modifications in steel costs (consisting of due to the 25% U.S. tariffs troubled imports of steel from all nations that worked March 12, 2025 and go through alter), other product and labor expenses, typically high inflation in the U.S. economy, labor and supply restraints, modifications in rate of interest, our dependence on cyclical markets, our dependence on primary consumers and federal government agreements, our capability to carry out agreements at expenses constant with approximated expenses used in bidding for the jobs, our capability to provide jobs on time, variations in quarterly incomes and incomes arising from the portion of conclusion accounting technique, client monetary condition and danger of default, possible termination of agreements consisted of in our stockpile at the choice of consumers, running dangers, competitors for marine vessel agreements, our capability to keep and carry out reliable succession prepare for crucial management workers and to continue to draw in and keep knowledgeable employees, state and federal guidelines, the schedule and expense of capital, the wars and violence in Ukraine and Israel and surrounding locations, danger of failure of any bank in which we transfer our funds, prospective event of another health crisis such as the COVID-19 pandemic, and basic market and financial conditions. Particular of these dangers and presumptions, and other dangers and presumptions, are talked about in more information in our Yearly Report, consisted of under the heading “ Company Introduction – Threat Aspects,” and in subsequent reports readily available on www.otcmarkets.com. Ought to several of these dangers or unpredictabilities emerge, or must underlying presumptions show inaccurate, real outcomes might differ materially from those prepared for, thought, approximated or anticipated. We do not plan to upgrade these positive declarations. Although our company believe that the expectations shown in such positive declarations are sensible, no guarantee can be considered that such expectations will show right.
For Info Contact:
Scott Thomas (985) 702-0195
SAThomas@ConradIndustries.com
View initial material: https://www.prnewswire.com/news-releases/conrad-industries-announces-2024-results-and-backlog-302416289.html
SOURCE Conrad Industries, Inc.
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