Conrad Industries Shares 2025 Results, Backlog

Conrad Industries, Inc. announced its 2025 results and backlog.

For the quarter ended December 31, 2025, Conrad had net income of $4.7 million and earnings per diluted share of $0.94 compared to net loss of $14,000 and earnings per diluted share of $0.00 during the fourth quarter of 2024. The Company reported net income of $19.9 million and income per diluted share of $3.96 for the twelve months ending December 31, 2025 compared to net income of $11.2 million and income per diluted share of $2.24 for the twelve months ending December 31, 2024. 

Net income recognized for the twelve months ending December 31, 2024 included collection of an $8.04 million judgment in a lawsuit, which increased Other Income by $8.04 million and net income by approximately $5.8 million. 

Their backlog as of December 31, 2025 was $213.9 million, compared to $293.8 million at December 31, 2024, and $253.8 million at December 31, 2023.

“Our operating results improved in 2025 despite a continued challenging environment marked by steel tariffs, elevated material costs, labor constraints, and broader economic and geopolitical uncertainty. While these factors contributed to delays in certain contract awards, we remain cautiously optimistic about 2026. That optimism is grounded in the diversity of our business, strong execution across multiple markets, and the continued expansion of our government and infrastructure work, including additional YRBM contract awards with the U.S. Navy," said Cecil A. Hernandez, President and Chief Executive Officer.

Mr. Hernandez continued, “At the same time, we are selectively diversifying into complementary areas such as industrial fabrication, which we believe can provide incremental opportunities while leveraging our existing capabilities."

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls a wide variety of steel marine vessels, including barges, dredges and dredge support equipment, tugboats, ferries, tow boats, drydocks, liftboats, and other offshore support vessels, as well as other steel products for both the commercial and government customers.The company provides conversion, repair and new construction services at its five shipyards located in southern Louisiana and Texas.