Conrad Industries Inc (OTCMKTS:CNRD) Stock On Radar Following Q1 Results

As the earnings season continues, investors are going to need to look into the highlights from the financial results of a number of companies and one of the companies to have declared its results yesterday was Conrad Industries Inc (OTCMKTS:CNRD).

Trading Data

On Monday, CNRD stock fell 1.14% to $13.05 with 400 shares, compared to its average volume 676 shares. The stock moved within a range of $13.05 – 13.05 after opening trade at $13.05.

Conrad Industries Announces First Quarter 2023 Results and Backlog

The company announced its financial results for the first fiscal quarter of 2023 on Monday. The company suffered a net loss of $5.1 million in the quarter, which worked out to loss per diluted share of $1.01. In the prior year quarter, the company had suffered a net loss of $116000, which reflected loss per diluted share of $0.02.

In the initial months of 2023, Conrad signed contracts worth $47 million in the new construction business segment. That was a significant improved on the $41.1 million in backlog orders that had been added in the first quarter of 2022. The total backlog at Conrad at the end of the quarter stood at $221.8 million and that proved to be a major improvement on the total backlog of $136.5 million at the end of March 31, 2023. However, it ought to be noted that since the end of the first fiscal quarter, the company was successful in signing contracts worth $13.9 million more.