Conrad Industries, the Morgan City-based ship builder, had a net loss of $2.2 million during the second-quarter.
The company had a $4.7 million profit during second-quarter 2018, but much of that stemmed from a $7.5 million settlement from the BP oil spill.
Conrad Industries generated $49.8 million in revenue during the second quarter, up from $44.2 million a year ago. But cost of revenue increased from $43.7 million to $50 million.
The loss stemmed from a combination of contracts lost and higher cost of raw material such as steel.
"The quarter and year to date financial results were primarily impacted by a few loss jobs during the periods, primarily due to spending more hours constructing the jobs than originally estimated and material increases due to the steel environment," said Cecil Hernandez, spokesperson for Conrad Industries said in a recent email.
Conrad Industries had a backlog of projects worth $116.8 million as of June 30, up from $74.5 million in projects the same time last year.
The company filed a lawsuit in June claiming one of its customers on the West Coast had not paid full fare for two tug boats with a balance of nearly $18 million still due. But the company said that the past-due bill did not materially impact its second-quarter results.