Cardinal Infrastructure Group (NASDAQ:CDNL) Issues Earnings Results

Cardinal Infrastructure Group (NASDAQ:CDNL) issued its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.13, FiscalAI reports. The business had revenue of $167.51 million for the quarter. The company’s revenue for the quarter 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 Stock Performance

Cardinal Infrastructure Group stock traded up $0.05 during midday trading on Wednesday, hitting $57.14. 124,536 shares of the stock were exchanged, compared to its average volume of 355,778. Cardinal Infrastructure Group has a 52-week low of $21.98 and a 52-week high of $63.18. The stock’s 50-day simple moving average is $41.80.

Insiders Place Their Bets

In related news, Director Ivy Zelman bought 6,921 shares of the company’s stock in a transaction on Thursday, March 26th. The shares were purchased at an average cost of $36.33 per share, for a total transaction 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. The trade was a 82.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDNL. Taylor Frigon Capital Management LLC purchased a new position in Cardinal Infrastructure Group in the fourth quarter valued at about $1,209,000. Kornitzer Capital Management Inc. KS purchased a new position in Cardinal Infrastructure Group in the fourth quarter valued at about $850,000. TimesSquare Capital Management LLC purchased a new position in Cardinal Infrastructure Group in the fourth quarter valued at about $14,612,000. Goldman Sachs Group Inc. purchased a new position in Cardinal Infrastructure Group in the fourth quarter valued at about $3,893,000. Finally, CenterBook Partners LP purchased a new position in Cardinal Infrastructure Group in the fourth quarter valued at about $1,994,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDNL. DA Davidson lifted their price target on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Stifel Nicolaus lifted their price target on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings started coverage on shares of Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cardinal Infrastructure Group has a consensus rating of “Hold” and a consensus price target of $49.00.

About Cardinal Infrastructure Group

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.