#USA #financial results #Marine Vessels #Conrad Industries #Morgan City

Conrad Industries Financial Update for Q3 2025

On November 14, 2025, Conrad Industries, Inc. announced its financial results for the third quarter and the nine months ending on September 30, 2025. Headquartered in Morgan City, Louisiana, the company is well-known for designing, building, and overhauling a broad range of steel marine vessels. Its product range includes various vessels such as barges, tugboats, and offshore supply vessels, catering to both commercial and government clients.

Financial Performance Overview

For the third quarter of 2025, the company recorded a net income of $5.5 million, translating to earnings per diluted share of $1.09. This represents a decrease compared to the same quarter in 2024, which saw a net income of $7.5 million and earnings per diluted share of $1.49. The decline is partially attributed to the recognition of an $8.04 million judgment from a lawsuit in 2024, which significantly bolstered the previous year's income.

Examining the first nine months of 2025, Conrad Industries reported a net income of $15.2 million with earnings per diluted share of $3.02. This is an increase from the $11.2 million net income and $2.24 earnings per diluted share reported in the same period of the previous year.

Backlog and Contracts

In terms of contracts secured, Conrad Industries signed $123.4 million worth of contracts in its new construction segment during the first nine months of 2025. This is notably lower than the $218.4 million added to its backlog in the same timeframe in 2024. As of September 30, 2025, the company's backlog stood at $196.0 million, down from $293.8 million at the end of 2024 and $282.2 million a year prior. Since the end of September, Conrad has reportedly signed an additional $46.8 million worth of contracts.

Company Overview

Founded in 1948, Conrad Industries has built a reputation for quality and reliability in the marine vessel construction and repair industry. The company operates five shipyards located in southern Louisiana and Texas, providing a range of services including new construction, conversions, and repairs. This broad service capability is a vital asset, especially functioning in a highly competitive market.

Conclusion

Despite experiencing a drop in quarterly net income year-on-year, Conrad Industries' ability to secure significant contracts illustrates a resilient operational strategy moving forward. The backlog figures suggest that there is potential for recovery and growth as the company continues to expand its service offerings and maintain high standards in marine vessel production. As the year progresses, stakeholders will be keen to see how effectively the company manages its business amidst fluctuating market dynamics.

For more information about Conrad Industries' financial results, please visit their official website.