Conrad Industries reports Q1 decline in net income, backlog on lower contract volume

CONRAD INDUSTRIES INC

CONRAD INDUSTRIES INC

CNRD

0.00


Overview

  • U.S. shipbuilder's Q1 net income fell yr/yr

  • Company backlog declined to $199.6 mln from $292 mln a year earlier

  • Since quarter-end, company signed $134.2 mln in new contracts, including U.S. Navy award


Outlook

  • Company did not provide specific guidance for future quarters or the full year


Result Drivers

  • LOWER CONTRACT SIGNINGS - Company said Q1 new construction contract signings fell to $46.8 mln from $67.3 mln a year earlier, contributing to lower backlog


Company press release: ID:nPn4BMxLha


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

$3.2 mln


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