Conrad Industries Announces Strong First Quarter 2025 Results

Conrad Industries has reported impressive financial performance for the first quarter of 2025, showcasing a net income of $3.9 million, a significant increase from $1.5 million in the same period in 2024. This growth reflects the company’s continued success and strategic momentum in the maritime industry.

Contract Signings and Backlog

During the first three months of 2025, Conrad secured contracts totaling $67.3 million in its new construction segment, surpassing the $51.8 million added to backlog in the first quarter of 2024. As of March 31, 2025, Conrad’s backlog stood at $292.0 million, demonstrating a steady increase from $293.8 million at the end of 2024 and $247.3 million at the same time last year.

Stock Repurchase Authorization

In addition to its strong financial performance, Conrad Industries announced that its board of directors has approved a stock repurchase program, authorizing the company to buy back up to $2.0 million of its common stock. This decision underscores Conrad’s confidence in its future prospects and commitment to enhancing shareholder value. The company intends to fund the repurchase using cash reserves or generated from operations.

About Conrad Industries

Conrad Industries, Inc. was founded in 1948 and is headquartered in Morgan City, Louisiana. The company specializes in designing, building, and overhauling a wide range of maritime vessels and steel products, including barges, dredges, tugboats, ferries, and offshore supply vessels, catering to both commercial and government markets. With five shipyards located in southern Louisiana and Texas, Conrad provides comprehensive repair and new construction services, positioning itself as a leading player in the industry.

Overall, Conrad Industries’ strong first quarter performance and strategic initiatives reflect its resilience and continued growth trajectory in the maritime sector. The company’s commitment to excellence and innovation bodes well for its future success in a competitive market environment.