Quarterly ResultMay 12, 2026, 06:32 AM
Cardinal Infrastructure Q1 Revenue +105% to $167.5M; Raises 2026 Outlook
AI Summary
Cardinal Infrastructure Group Inc. announced strong first-quarter 2026 financial results, with significant revenue and net income growth. The company also reported record backlog and raised its full-year 2026 revenue guidance, reflecting solid execution and contributions from recent acquisitions. Management highlighted the success of its vertical integration model and diversification into new end markets.
Key Highlights
- Q1 2026 Revenue $167.5 million, up 105% YoY (64% organically)
- Q1 2026 Net income $11.5 million, up 73% from Q1 2025
- Q1 2026 Adjusted EBITDA $26.8 million, up 84% YoY
- Backlog as of March 31, 2026, was $854 million, up 60% from prior year
- Raised full-year 2026 revenue guidance to $675 million to $685 million
- Maintained full-year 2026 Adjusted EBITDA margin target of 20%+
- ALGC acquisition, closed mid-February 2026, made strong contributions to Q1 results
- Q1 2026 Adjusted Gross Profit $34.2 million, with a 20.4% margin