Conrad reports profitable first quarter

Written by Marine Log Staff

Morgan City, La.-based shipbuilder Conrad Industries, Inc. (OTCID: CNRD) has reported its first quarter 2026 results.

For the quarter ended March 31, 2026, Conrad had net income of $3.2 million and income per diluted share of $0.64 compared to $3.9 million and income per diluted share of $0.77 during the first quarter of 2025.

During the first three months of 2026, Conrad signed $46.8 million in contracts in its new construction segment compared to $67.3 million added to backlog during the first three months of 2025. Conrad’s backlog was $199.6 million at March 31, 2026, $213.9 million at December 31, 2025 and $292.0 million at March 31, 2025.

Since the end of the first quarter, the company has signed an additional $134.2 million in contracts, which includes an award of a contract modification from the U.S. Navy for four additional Yard Repair, Berthing and Messing (YRBM) vessels.