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Cardinal Infrastructure Group Inc. provides civil infrastructure and site-development services for residential, commercial, industrial, municipal and state infrastructure markets in the Southeastern United States. The company self-performs wet utility installation, grading, site clearing, erosion control, drilling and blasting, paving, stormwater work and related site services through specialized crews, fleets and operating subsidiaries.
Cardinal news commonly covers financial results and guidance, project awards, acquisition-led expansion, leadership appointments and public-company milestones following its Nasdaq listing under CDNL. Updates also describe contract activity across Sunbelt markets, including larger civil scopes for data center and other commercial infrastructure projects.
Cardinal Infrastructure Group (NASDAQ: CDNL) reported second quarter 2026 revenue of $226.9 million, up 114% year-over-year, with approximately 64% organic growth. Adjusted EBITDA was $28.1 million, up 43%, while adjusted EBITDA margin declined to 12.4% from 18.6% a year earlier, reflecting higher subcontracting, equipment rental and corporate investment costs.
Year-to-date revenue reached $394.4 million (up 110%) and adjusted EBITDA $54.9 million (up 60%). Backlog as of June 30, 2026 increased 35% to $866 million. Cash and cash equivalents rose to $339.1 million, supported by stronger operating cash flow.
Cardinal raised its 2026 revenue guidance to $880–$900 million and now targets adjusted EBITDA margin of 16%–18%. The company also agreed to acquire Allied Paving Contractors of Atlanta for approximately $120 million, funded with about $62 million in cash and roughly $58 million in Class A stock, adding an estimated $108 million of annual revenue at a 20.3% adjusted EBITDA margin. Closing is expected in early October.
Cardinal Infrastructure Group (Nasdaq: CDNL) will release its second quarter 2026 financial results before markets open on Tuesday, August 11, 2026, and host an earnings conference call at 10:30 a.m. ET. Webcast access, presentation materials and a replay will be provided on the company’s website.
Cardinal Infrastructure Group (Nasdaq: CDNL) announced completion of its first asphalt processing plant near Raleigh, North Carolina. The facility supports Cardinal's vertical integration strategy in civil infrastructure delivery.
The plant can produce 400 tons of hot mix asphalt per hour, giving Cardinal direct control over mix design, production scheduling, material quality and reducing reliance on third-party suppliers.
Cardinal Infrastructure Group (Nasdaq: CDNL) closed its upsized underwritten public offering of 4,000,000 Class A shares at $73.00 per share.
According to Cardinal, underwriters fully exercised their option for 600,000 additional shares, bringing total gross proceeds to about $336 million before discounts and expenses.
Cardinal Infrastructure Group (Nasdaq: CDNL) priced an upsized underwritten public offering of 4,000,000 Class A shares at $73.00 per share, for expected gross proceeds of about $292 million before expenses. Underwriters have a 30-day option for 600,000 additional shares, with closing expected June 26, 2026.
Cardinal Infrastructure Group (Nasdaq: CDNL) announced a proposed underwritten public offering of 3,750,000 shares of Class A common stock, all sold by the company.
The company plans to grant underwriters a 30-day option for up to 562,500 additional shares. A Form S-1 registration statement has been filed but is not yet effective.
Cardinal Infrastructure Group (Nasdaq: CDNL) announced the acquisition of Piedmont Pipe Construction, a wet utilities provider founded in 1999 and operating across North and South Carolina.
The deal expands Cardinal's wet utility capabilities in the high-growth Charlotte market, where Piedmont will operate under the Cardinal Civil Contracting brand.
Cardinal Infrastructure Group (Nasdaq: CDNL) announced two key leadership moves: promoting Marisa Hodes to Vice President of the Carolinas and formally appointing Chace Adams as Safety Director.
Hodes has overseen over $550 million in site development work, while Adams now leads a safety team of more than 10 professionals across the Southeast.
Cardinal Infrastructure Group (Nasdaq: CDNL) announced management participation in the Stifel Cross Sector Conference and the William Blair Growth Stock Conference on June 2-3, 2026.
Executives will meet institutional investors and host a webcasted presentation, with live access and 30-day replays via the investor relations website.
Cardinal Infrastructure Group (NASDAQ: CDNL) reported strong Q1 2026 results and raised full-year guidance.
Revenue was $167.5 million, up 105% (64% organic); net income rose 73% to $11.5 million. Backlog reached $854 million, up 60%. Cardinal now guides 2026 revenue to $675–$685 million with adjusted EBITDA margin of 20%+.