Marine Construction

Conrad Industries (CNRD) reported Q3 2025 net income of $5.5 million ($1.09 EPS), down from $7.5 million ($1.49 EPS) in Q3 2024. However, YTD net income reached $15.2 million ($3.02 EPS), exceeding the previous year’s $11.2 million ($2.24 EPS). Backlog decreased to $196.0 million from $293.8 million at the end of 2024. The company secured $123.4 million in new construction contracts in the first nine months and an additional $46.8 million since September 30, 2025.