Conrad names Cecil A. Hernandez its new president and CEO

Cecil A. Hernandez

Morgan City, La.-headquartered shipbuilder Conrad Industries, Inc. (OTC Pink: CNRD) today named Cecil A. Hernandez its president and chief executive office with Johnny Conrad assuming the position of executive chairman and remaining as chairman of the board and an executive officer of the company. He will continue to work closely with Hernandez and to lead the board.

“Cecil has served as president of Conrad Industries since 2018, as a director since 1998, and in other important senior management positions at the company, including chief financial officer and chief operating officer, for more than 25 years,” said Johnny Cochran. “He has our entire board’s full confidence that he is the right person to lead our company as CEO into the future. I look forward to continuing our strong working relationship.”

“I am honored to assume this role at Conrad Industries,” said Hernandez. “Johnny Conrad has been and will continue to be instrumental in setting our company’s strategy and reinforcing our ongoing commitment to the Conrad values that have guided our Company for 77 years. Under his leadership, we have worked hard together, along with our senior managers, through challenging market cycles, to diversify our company’s product mix, invest in improving our shipyards’ capabilities and efficiencies, deepen our management and engineering teams, achieve impressive safety performance, exceed our customers’ expectations, recognize and support our dedicated employees and build value for our shareholders. I am excited about the opportunities ahead for Conrad Industries.”

PROFITABLE FIRST QUARTER

The announcement of the leadership change came after Conrad Industries yesterday reported first quarter 2025 results that included net income of $3.9 million and earnings per diluted share of $0.77 compared to $1.5 million and earnings per diluted share of $0.30 during the first quarter of 2024.

During the first three months of 2025, Conrad signed $67.3 million in contracts in its new construction segment compared to $51.8 million added to backlog during the first three months of 2024. Conrad’s backlog was $292.0 million at March 31, 2025, $293.8 million at December 31, 2024 and $247.3 million at March 31, 2024.

• Read the full first quarter report HERE

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