en.Wedoany.com Reported - Conrad Industries, Inc. (OTCID: CNRD) yesterday announced its 2025 financial results and backlog. The company's operational performance showed an improving trend in 2025, with full-year net income reaching $19.9 million and diluted earnings per share of $3.96. This represents a significant improvement compared to 2024, when net income was $11.2 million and earnings per share were $2.24.
In the fourth quarter of 2025, Conrad Industries reported net income of $4.7 million, or $0.94 per share, compared to a net loss of $14,000 in the same period of 2024. The company's financial report indicates that the net income recognized in 2024 included $8.04 million from a litigation settlement, which increased other income and boosted net income by approximately $5.8 million. The complete financial documents are available on the www.otcmarkets.com website.
As of the end of 2025, Conrad Industries' total backlog was $213.9 million, down from $293.8 million in 2024 but higher than the $253.8 million in 2023. Cecil A. Hernandez, President and Chief Executive Officer, stated, "Despite challenges such as steel tariffs, rising material costs, labor constraints, and economic uncertainty, our operational performance improved in 2025. While these factors have caused delays in some contract awards, we remain cautiously optimistic about 2026."
Hernandez noted that this optimism is based on the diversity of the company's business, its execution capabilities across multiple markets, and the continued expansion of government and infrastructure work, including additional YRBM contracts with the U.S. Navy. The company is selectively expanding into complementary areas such as industrial manufacturing to create more opportunities and leverage existing capabilities. Combined with its core shipbuilding and repair business, these initiatives aim to help the company navigate uncertainty and strengthen its business foundation.
Hernandez emphasized, "In the long term, we are integrating our five Gulf Coast facilities into a coordinated production system to support government and commercial projects, repair services, and industrial manufacturing. This operational model is expected to enhance efficiency, flexibility, and capital utilization while enabling the company to seize new opportunities in defense, infrastructure, and industrial sectors. Our diverse capabilities, experienced team, and rigorous execution provide a solid foundation for continued progress in 2026 and beyond." The improvement in Conrad Industries' operational performance reflects the company's adaptability and strategic execution in a complex environment.
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