Conrad Industries Announces Second Quarter 2025 Results and Backlog

Rhea-AI Summary

Conrad Industries (OTC Pink: CNRD) reported strong financial results for Q2 2025, with net income of $5.8 million and earnings per diluted share of $1.16, compared to $2.2 million and $0.44 per share in Q2 2024. For the first half of 2025, net income reached $9.7 million ($1.93 per share), up significantly from $3.7 million ($0.75 per share) in H1 2024.

The shipbuilding company's new construction segment secured $104.0 million in contracts during H1 2025, slightly down from $116.5 million in H1 2024. The company's backlog stood at $249.7 million as of June 30, 2025, with an additional $3.8 million in contracts signed after the quarter end.

Positive

• Net income increased 163% to $5.8 million in Q2 2025 vs $2.2 million in Q2 2024
• H1 2025 net income grew 162% to $9.7 million compared to $3.7 million in H1 2024
• Strong backlog of $249.7 million as of June 30, 2025
• Secured $104.0 million in new construction contracts during H1 2025

Negative

• New construction contracts declined to $104.0 million in H1 2025 from $116.5 million in H1 2024
• Backlog decreased to $249.7 million from $293.8 million at December 31, 2024

MORGAN CITY, La., Aug. 14, 2025 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD) announced today its second quarter and six months ended June 30, 2025 financial results and backlog at June 30, 2025.

For the quarter ended June 30, 2025, Conrad had net income of $5.8 million and earnings per diluted share of $1.16 compared to net income of $2.2 million and earnings per diluted share of $0.44 during the second quarter of 2024. The Company had net income of $9.7 million and earnings per diluted share of $1.93 for the six months ended June 30, 2025 compared to net income of $3.7 million and earnings per diluted share of $0.75 for the six months ended June 30, 2024. The Company's financial reports are available at www.otcmarkets.com.

During the first six months of 2025, Conrad signed $104.0 million in contracts in its new construction segment compared to $116.5 million added to backlog during the first six months of 2024. Conrad's backlog was $249.7 million at June 30, 2025, $293.8 million at December 31, 2024 and $244.9 million at June 30, 2024. Since the end of the second quarter, the Company has signed an additional $3.8 million in contracts.

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls barges, dredges and dredge support equipment, tugboats, ferries, drydocks, liftboats, offshore supply vessels and other steel products for both the commercial and government markets. The Company provides both 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-second-quarter-2025-results-and-backlog-302530652.html

SOURCE Conrad Industries, Inc.

FAQ

What was Conrad Industries' earnings per share for Q2 2025?

Conrad Industries reported earnings per diluted share of $1.16 for Q2 2025, up from $0.44 in Q2 2024.

How much is Conrad Industries' current backlog as of Q2 2025?

Conrad Industries' backlog stood at $249.7 million as of June 30, 2025, compared to $293.8 million at December 31, 2024.

What was CNRD's net income for the first half of 2025?

Conrad Industries reported net income of $9.7 million for the first six months of 2025, compared to $3.7 million in the same period of 2024.

How many new construction contracts did Conrad Industries secure in H1 2025?

Conrad Industries secured $104.0 million in new construction contracts during the first six months of 2025, compared to $116.5 million in H1 2024.

What additional contracts did CNRD sign after Q2 2025?

Conrad Industries signed an additional $3.8 million in contracts after the end of the second quarter of 2025.