Conrad Industries Announces Second Quarter 2026 Results and Backlog

Rhea-AI Summary

Conrad Industries (OTC: CNRD) reported second quarter 2026 net income of $3.3 million and diluted EPS of $0.65, down from $5.8 million and $1.16 a year earlier. For the first six months of 2026, net income was $6.5 million (vs. $9.7 million in 2025) and EPS was $1.29 (vs. $1.93).

According to Conrad, backlog increased $196.4 million during the first half of 2026, compared to a $104.0 million increase a year earlier, reaching $292.8 million at June 30, 2026. After quarter-end, the company signed an additional $37.4 million in contracts, including a U.S. Army Corps of Engineers deck barge award.

Positive

• Backlog increase H1 2026 +$196.4 million versus +$104.0 million in H1 2025
• Backlog at June 30, 2026 $292.8 million, up from $213.9 million at December 31, 2025
• Post-quarter contracts Additional $37.4 million in signed contracts not yet in June 30 backlog

Negative

• Q2 2026 net income $3.3 million vs. $5.8 million in Q2 2025
• Q2 2026 diluted EPS $0.65 vs. $1.16 in the prior-year quarter
• H1 2026 net income $6.5 million vs. $9.7 million in H1 2025
• H1 2026 diluted EPS $1.29 vs. $1.93 in the prior-year period

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MORGAN CITY, La., Aug. 14, 2026 /PRNewswire/ -- Conrad Industries, Inc. (OTCID: CNRD) ("Conrad" or the "Company") announced today its second quarter and six months ended June 30, 2026 financial results and backlog at June 30, 2026.

For the quarter ended June 30, 2026, Conrad had net income of $3.3 million and earnings per diluted share of $0.65, compared to net income of $5.8 million and earnings per diluted share of $1.16 for the quarter ended June 30, 2025. For the six months ended June 30, 2026, the Company had net income of $6.5 million and earnings per diluted share of $1.29, compared to net income of $9.7 million and earnings per diluted share of $1.93 for the six months ended June 30, 2025. The Company's financial reports are available at www.otcmarkets.com.

During the first six months of 2026, Conrad's backlog increased by $196.4 million, compared to a $104.0 million increase in backlog during the first six months of 2025. Conrad's backlog was $292.8 million at June 30, 2026, $213.9 million at December 31, 2025 and $249.7 million at June 30, 2025. Since the end of the second quarter and not reflected in backlog at June 30, 2026, the Company has signed an additional $37.4 million in contracts, which includes an award of a contract from the U.S. Army Corps of Engineers to design, build, test, and deliver a new deck barge for the Corps' Vicksburg District.

Cecil A. Hernandez, Conrad's President and Chief Executive Officer, stated, "While our financial results for the first half of 2026 reflect the impact of lower production volume compared to the prior year, we are encouraged by the continued improvement in project execution, growth in backlog, and strength of our balance sheet. Our backlog growth reflects continued demand across government, infrastructure, and commercial markets and includes additional YRBM vessel awards from the U.S. Navy and a recently awarded contract with the U.S. Army Corps of Engineers."

"While we continue to operate in an environment characterized by steel cost and supply volatility, labor constraints, and broader economic uncertainty, we remain focused on disciplined bidding, proactive procurement, workforce development, and execution excellence. We believe the lessons learned from recent complex programs, together with our ongoing investments in facilities, technology, and people, have strengthened our competitive position and enhanced our ability to pursue larger and more diverse opportunities."

"Looking ahead, our priorities remain unchanged: safely and efficiently executing our existing backlog, expanding profitable opportunities across our markets, and building long-term value for our shareholders, customers, and employees. With five strategically located Gulf Coast shipyards, a growing government portfolio, and a strong reputation for quality and safety, we believe Conrad is well positioned for continued progress."

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-2026-results-and-backlog-302852216.html

SOURCE Conrad Industries, Inc.

FAQ

What were Conrad Industries (OTC:CNRD) Q2 2026 earnings and EPS?

Conrad Industries reported Q2 2026 net income of $3.3 million and diluted EPS of $0.65. According to Conrad, this compares with $5.8 million in net income and $1.16 in diluted EPS for the quarter ended June 30, 2025, indicating lower profitability year over year.

How did Conrad Industries backlog change in the first half of 2026?

Conrad Industries’ backlog increased by $196.4 million during the first six months of 2026. According to Conrad, backlog reached $292.8 million at June 30, 2026, up from $213.9 million at December 31, 2025 and $249.7 million at June 30, 2025, reflecting strong order growth.

What new contracts did Conrad Industries (CNRD) sign after Q2 2026?

After June 30, 2026, Conrad Industries signed an additional $37.4 million in contracts. According to Conrad, this total includes a contract from the U.S. Army Corps of Engineers to design, build, test and deliver a new deck barge for the Corps’ Vicksburg District.

How did Conrad Industries’ first-half 2026 results compare with 2025?

For the first six months of 2026, Conrad Industries earned $6.5 million, or $1.29 diluted EPS. According to Conrad, this compares with $9.7 million in net income and $1.93 diluted EPS for the same 2025 period, reflecting lower earnings amid reduced production volume.

What markets and shipyards support Conrad Industries’ backlog growth in 2026?

Conrad Industries serves government, infrastructure and commercial markets through five Gulf Coast shipyards. According to Conrad, its facilities in southern Louisiana and Texas design, build and repair barges, dredges, support equipment, tugboats, ferries, drydocks and offshore vessels, underpinning its growing government and commercial contract portfolio.

Where can investors find Conrad Industries’ detailed Q2 2026 financial reports?

Investors can access Conrad Industries’ detailed financial reports on the OTC Markets website. According to Conrad, the company’s second quarter and six-month 2026 financial information is available at www.otcmarkets.com, providing additional detail beyond headline net income, EPS and backlog figures.