#USA #Conrad Industries #CNRD #marine industry #Morgan City, Louisiana

Conrad Industries Reports Impressive First Quarter Results for 2025

Conrad Industries, Inc., a prominent player in the marine construction and manufacturing sector, recently announced its financial results for the first quarter of 2025, showcasing a substantial improvement compared to the same period last year. For the quarter ending March 31, 2025, the company revealed a net income of $3.9 million. This translates to earnings of $0.77 per diluted share, a marked increase from the $1.5 million net income and $0.30 earnings per diluted share recorded in the first quarter of 2024.

Strong Contract Book

In addition to its impressive earnings report, Conrad Industries experienced significant activity within its new construction segment. The company signed contracts totaling $67.3 million during the first three months of 2025, compared to $51.8 million in contracts added to backlog during the same period last year. As of March 31, 2025, the company's backlog stood at $292.0 million, almost stable from $293.8 million at the end of 2024 and a notable increase from $247.3 million at the same point in 2024.

Stock Buyback Program

To further enhance shareholder value, Conrad Industries' board of directors has authorized a stock buyback program allowing the company to repurchase up to $2.0 million of its common stock. The plan indicates the company's intention to utilize existing cash reserves or funds generated from operations for this purpose. Acquisitions will occur on the open market or via privately negotiated transactions in compliance with securities regulations. The buyback program's execution will adapt to fluctuate with market conditions and the company's financial standing.

Overview of Conrad Industries

Founded in 1948 and headquartered in Morgan City, Louisiana, Conrad Industries primarily engages in designing, building, and overhauling a myriad of marine vessels and equipment. The company specializes in creating barges, dredges, tugboats, and support vessels, catering to both commercial enterprises and government contracts. With five shipyards strategically located in southern Louisiana and Texas, Conrad not only provides repair services but also emphasizes new construction initiatives.

Future Directions

With a robust financial showing and expanding contract backlog, Conrad Industries is well-positioned for continued growth. The announcement of its quarterly earnings serves as a testament to its operational excellence and commitment to meeting client demands in the marine sector. Investors and industry analysts will be keen to observe how the implementation of the stock buyback program will be received in the marketplace, as well as the company’s ability to maintain its growth trajectory in the competitive maritime landscape.

For more detailed information about this quarter's performance and future plans, stakeholders are encouraged to visit Conrad Industries' financial reports available at OTC Markets.

For inquiries, Scott Thomas can be contacted via phone at (985) 702-0195 or via email.