Cardinal Infrastructure Group (NASDAQ:CDNL) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Cardinal Infrastructure Group (NASDAQ:CDNL) issued its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.10 by $0.13, FiscalAI reports. The business had revenue of $167.51 million for the quarter. The firm’s revenue was up 104.8% on a year-over-year basis.

Here are the key takeaways from Cardinal Infrastructure Group’s conference call:

• Cardinal reported very strong Q1 2026 results, with revenue up 105% year over year and organic growth of 64%, while backlog hit a record $854 million. Management said the backlog provides visibility into the second half of 2026 and into 2027.
• The company raised full-year 2026 revenue guidance to $675 million-$685 million from $665 million-$678 million, citing strong bidding activity, record backlog, and contributions from the A.L. Grading Contractors acquisition. It reiterated Adjusted EBITDA margin guidance above 20%.
• Cardinal continues to benefit from its vertical integration model, which management says compresses schedules by 6-8 weeks and helps win repeat business. The company noted over 80% of customers are recurring, and the mix has shifted further toward non-residential work.
• Management said the A.L. Grading Contractors acquisition is integrating well and is already creating synergies, including reducing subcontractor reliance and expanding service offerings in Georgia. The company also described its M&A pipeline as active, with tuck-in and platform deals under evaluation.
• Near-term margins are being affected by growth investment and seasonal headwinds, especially in newer markets like Charlotte and Greensboro, which are currently dilutive but expected to improve as density builds. CFO Mike Rowe also said Q1 G&A was elevated by acquisition and public-company readiness costs.

Cardinal Infrastructure Group Trading Down 7.0%

Shares of CDNL stock traded down $4.23 during mid-day trading on Tuesday, reaching $56.14. 453,593 shares of the stock traded hands, compared to its average volume of 354,137. The business has a fifty day moving average price of $41.30. Cardinal Infrastructure Group has a 1-year low of $21.98 and a 1-year high of $63.18.

Wall Street Analysts Forecast Growth

CDNL has been the subject of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a research report on Monday, March 30th. DA Davidson lifted their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings started coverage on Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a “sell (e)” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cardinal Infrastructure Group currently has an average rating of “Hold” and a consensus price target of $38.00.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Ivy Zelman acquired 6,921 shares of Cardinal Infrastructure Group stock in a transaction that occurred on Thursday, March 26th. The shares were bought at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the purchase, the director directly owned 15,326 shares in the company, valued at $556,793.58. This trade represents a 82.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNL. Strs Ohio bought a new position in Cardinal Infrastructure Group during the 1st quarter worth approximately $87,000. Barclays PLC bought a new position in shares of Cardinal Infrastructure Group in the 4th quarter worth about $152,000. GatePass Capital LLC acquired a new position in Cardinal Infrastructure Group in the first quarter valued at approximately $274,000. Zuckerman Investment Group LLC acquired a new stake in Cardinal Infrastructure Group in the fourth quarter worth $242,000. Finally, XTX Topco Ltd acquired a new position in Cardinal Infrastructure Group during the 4th quarter worth approximately $242,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.