Quarterly ResultAug 11, 2026, 07:02 AM
Cardinal Infrastructure Q2 Revenue $226.9M; Acquires Allied Paving
AI Summary
Cardinal Infrastructure Group Inc. announced its second quarter 2026 financial results, reporting record revenue of $226.9 million, a 114% increase year-over-year, and net income of $11.1 million, up 18%. The company also announced the acquisition of Allied Paving for approximately $120 million, which is expected to add $108 million in annual revenue. Despite strong growth, gross profit and Adjusted EBITDA margins were below plan due to increased costs and weather disruptions. The company raised its full-year 2026 revenue guidance to $880-$900 million but adjusted its Adjusted EBITDA margin outlook to 16-18% due to accelerated investments.
Key Highlights
- Acquired Allied Paving for approximately $120 million, adding $108 million in annual revenue.
- Q2 2026 revenue reached a record $226.9 million, up 114% year-over-year and 64% organically.
- Q2 2026 net income increased 18% to $11.1 million.
- Q2 2026 adjusted EBITDA was $28.1 million, a 43% increase year-over-year.
- Backlog as of June 30, 2026, was $866 million, up 35% from the prior year.
- Raised 2026 revenue guidance to $880-$900 million, with the midpoint increasing by $210 million.
- Set 2026 Adjusted EBITDA margin guidance at 16-18%.
Price Impact
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