Conrad reports improved operating results

Cecil A. Hernandez, Conrad’s president and CEO: “Our operating results improved in 2025 despite a continued challenging environment.”

Conrad Industries, Inc. (OTCID: CNRD) yesterday reported its 2025 results and backlog. For the quarter ended December 31, 2025, the company had net income of $4.7 million and earnings per diluted share of $0.94 compared to a net loss of $14,000 and earnings per diluted share of $0.00 during the fourth quarter of 2024. The company reported net income of $19.9 million and income per diluted share of $3.96 for the twelve months ended December 31, 2025 compared to net income of $11.2 million and income per diluted share of $2.24 for the twelve months ended December 31, 2024. Net income recognized for the twelve months ending December 31, 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.

Conrad’s backlog as of December 31, 2025 was $213.9 million, compared to $293.8 million at December 31, 2024, and $253.8 million at December 31, 2023.stated,

“Our operating results improved in 2025 despite a continued challenging environment marked by steel tariffs, elevated material costs, labor constraints, and broader economic and geopolitical uncertainty,” said Cecil A. Hernandez, Conrad’s president and CEO. “While these factors contributed to delays in certain contract awards, we remain cautiously optimistic about 2026. That optimism is grounded in the diversity of our business, strong execution across multiple markets, and the continued expansion of our government and infrastructure work, including additional YRBM contract awards with the U.S. Navy.”

“At the same time,” continued Hernandez, “we are selectively diversifying into complementary areas such as industrial fabrication, which we believe can provide incremental opportunities while leveraging our existing capabilities. Together with our core shipbuilding and repair operations, we believe these efforts will help position us to navigate uncertainty while continuing to strengthen our business. Our focus remains on disciplined execution, maintaining workforce stability, and selectively pursuing work that aligns with our capabilities and risk profile. None of this would be possible without the dedication of our employees, whose commitment to safety, quality, and execution continues to be a differentiating strength for our company.”

“Forthe long term, we are aligning our five Gulf Coast facilities into a coordinated production system that will support government and commercial programs, lifecycle repair services, and industrial fabrication,” said Hernandez. “We believe this operating model will improve throughput, flexibility, and capital efficiency, while positioning us to participate in emerging opportunities across defense, infrastructure, and industrial markets. Our diversified capabilities, experienced workforce, and disciplined execution provide a strong foundation as we pursue continued progress in 2026 and beyond.”

• Read the full OTC filing HERE