Conrad Industries Announces First Quarter 2026 Results and Backlog

Conrad Industries (OTC:CNRD) reported first quarter 2026 net income of $3.2 million, or $0.64 per diluted share, versus $3.9 million and $0.77 a year earlier.

Rhea-AI Summary

Conrad Industries (OTC:CNRD) reported first quarter 2026 net income of $3.2 million, or $0.64 per diluted share, versus $3.9 million and $0.77 a year earlier.

The company signed $46.8 million in new construction contracts and reported a March 31, 2026 backlog of $199.6 million, plus $134.2 million in additional contracts signed after quarter-end, including a U.S. Navy YRBM vessel contract modification.

Positive

• Q1 2026 net income of $3.2 million and EPS of $0.64
• New construction contracts of $46.8 million signed in first three months 2026
• Backlog of $199.6 million at March 31, 2026
• Additional $134.2 million in contracts signed after March 31, 2026
• U.S. Navy contract modification for four additional YRBM vessels

Negative

• Net income declined from $3.9 million in Q1 2025 to $3.2 million
• Diluted EPS decreased from $0.77 to $0.64 year-over-year
• New construction bookings fell from $67.3 million to $46.8 million year-over-year
• Backlog declined from $292.0 million on March 31, 2025 to $199.6 million
• Backlog decreased from $213.9 million at December 31, 2025 to $199.6 million

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MORGAN CITY, La., May 15, 2026 /PRNewswire/ -- Conrad Industries, Inc. (OTCID: CNRD) announced today its first quarter 2026 results.

For the quarter ended March 31, 2026, the Company had net income of $3.2 million and income per diluted share of $0.64 compared to $3.9 million and income per diluted share of $0.77 during the first quarter of 2025. The Company's financial reports are available at www.otcmarkets.com.

During the first three months of 2026, Conrad signed $46.8 million in contracts in its new construction segment compared to $67.3 million added to backlog during the first three months of 2025. Conrad's backlog was $199.6 million at March 31, 2026, $213.9 million at December 31, 2025 and $292.0 million at March 31, 2025. Since the end of the first quarter, the Company has signed an additional $134.2 million in contracts, which includes an award of a contract modification from the U.S. Navy for four additional Yard Repair, Berthing and Messing (YRBM) vessels.  

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 commercial and government customers. The company provides conversion, repair and new construction services at its five shipyards located in southern Louisiana and Texas.

For Information Contact:
Scott Thomas (985) 702-0195
SAThomas@ConradIndustries.com 

View original content:https://www.prnewswire.com/news-releases/conrad-industries-announces-first-quarter-2026-results-and-backlog-302773950.html

SOURCE Conrad Industries, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Conrad Industries (CNRD) first quarter 2026 earnings?

Conrad Industries reported Q1 2026 net income of $3.2 million, or $0.64 per diluted share. According to Conrad Industries, this compares with $3.9 million in net income and $0.77 per diluted share in the first quarter of 2025.

How did Conrad Industries (CNRD) Q1 2026 backlog compare to prior periods?

Conrad Industries reported a March 31, 2026 backlog of $199.6 million. According to Conrad Industries, backlog was $213.9 million at December 31, 2025 and $292.0 million at March 31, 2025, indicating a sequential and year-over-year decline in booked work.

How many new contracts did Conrad Industries (CNRD) sign in early 2026?

Conrad Industries signed $46.8 million in new construction contracts during the first three months of 2026. According to Conrad Industries, this compares with $67.3 million added to backlog in the same 2025 period, reflecting lower new bookings year-over-year.

What additional contracts has Conrad Industries (CNRD) secured after March 31, 2026?

After March 31, 2026, Conrad Industries signed an additional $134.2 million in contracts. According to Conrad Industries, this total includes a contract modification from the U.S. Navy for four additional Yard Repair, Berthing and Messing (YRBM) vessels.

What does the U.S. Navy YRBM contract mean for Conrad Industries (CNRD)?

Conrad Industries received a U.S. Navy contract modification for four additional YRBM vessels, expanding prior work. According to Conrad Industries, this award forms part of $134.2 million in post-quarter contracts, enhancing its government-focused new construction workload.

What type of business does Conrad Industries (CNRD) operate?

Conrad Industries designs, builds and overhauls steel marine vessels and related products for commercial and government customers. According to Conrad Industries, it operates five shipyards in southern Louisiana and Texas, serving barges, dredges, tugboats, ferries, tow boats, drydocks, and offshore support vessels.