Conrad Industries Inc., Morgan City, La., announced today that its backlog at the end of the second quarter was $245.1 million, the second highest in the company’s history.
For the quarter ended June 30, 2022, Conrad had net loss of $3.4 million and loss per diluted share of 67 cents compared to net income of $8.6 million and income per diluted share of $1.71 during the second quarter of 2021. The company had net loss of $3.5 million and loss per diluted share of 69 cents for the six months ended June 30 compared to net income of $9.3 million and earnings per diluted share of $1.85 for the six months ended June 30, 2021.
Net income in the second quarter and first six months of 2021 included the Paycheck Protection Program loan being forgiven in the second quarter of 2021 and the company's qualification for the Employee Retention Credit for the first two quarters of 2021.
During the first six months of 2022, Conrad added $198.8 million of backlog to its new construction segment compared to $60.8 million added to backlog during the first six months of 2021. Conrad’s backlog was $245.1 million at June 30, 2022, the second highest backlog in company history, $148.5 million at Dec. 31, 2021, and $170.9 million at June 30, 2021. Since the end of the second quarter the Conrad has signed an additional $34.9 million in contracts.