Financial Performance - For Q3 2025, Conrad Industries reported a net income of $5.5 million and earnings per diluted share of $1.09, a decrease from $7.5 million and $1.49 in Q3 2024 [2] - For the nine months ended September 30, 2025, net income was $15.2 million and earnings per diluted share were $3.02, compared to $11.2 million and $2.24 for the same period in 2024 [2] - The financial results for 2024 included an $8.04 million judgment collection, which contributed approximately $5.8 million to net income [2] Contract and Backlog Information - In the first nine months of 2025, Conrad signed contracts worth $123.4 million in its new construction segment, down from $218.4 million in the same period of 2024 [3] - The backlog as of September 30, 2025, was $196.0 million, a decrease from $293.8 million at December 31, 2024, and $282.2 million at September 30, 2024 [3] - Since September 30, 2025, the company has signed an additional $46.8 million in contracts [3] Company Overview - Conrad Industries, established in 1948 and headquartered in Morgan City, Louisiana, specializes in designing, building, and overhauling various steel marine vessels [4] - The company provides services including conversion, repair, and new construction at its five shipyards located in southern Louisiana and Texas [4]