Conrad Industries Announces Third Quarter 2025 Results and Backlog

November 17, 2025

Conrad Shipyard designed and built a new dry dock for Master Boat Builders. The new dry dock measures 155’ long x 66’ wide with 41’ tall wing walls, features a 2,000‑ton lifting capacity, and incorporates a barge bow to enable efficient towing. Image courtesy Master Boat Builders

Conrad Industries, Inc. announced its third quarter and nine months ended September 30, 2025 financial results and backlog at September 30, 2025.

For the quarter ended September 30, 2025, Conrad had net income of $5.5 million and earnings per diluted share of $1.09 compared to net income of $7.5 million and earnings per diluted share of $1.49 during the third quarter of 2024. The Company had net income of $15.2 million and earnings per diluted share of $3.02 for the nine months ended September 30, 2025 compared to net income of $11.2 million and earnings per diluted share of $2.24 for the nine months ended September 30, 2024. Net income recognized in the third quarter and first nine months of 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. The Company’s financial reports are available at www.otcmarkets.com.

During the first nine months of 2025, Conrad signed $123.4 million in contracts in its new construction segment compared to $218.4 million added to backlog during the first nine months of 2024. Conrad’s backlog was $196.0 million at September 30, 2025, $293.8 million at December 31, 2024 and $282.2 million at September 30, 2024. Since September 30, 2025, the Company has signed an additional $46.8 million in contracts.