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Cardinal Infrastructure Group
Cardinal Infrastructure Group (CDNL) investor relations material
Cardinal Infrastructure Group Registration filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Registration filing summary22 Jun, 2026
Company overview and business model
Provides turnkey infrastructure services for residential, commercial, industrial, municipal, and state markets, focusing on wet utility installations, grading, paving, and related site services, primarily in the Southeastern U.S.
Operates with a large, skilled workforce and specialized equipment, performing most services in-house to reduce reliance on subcontractors and improve project execution.
Growth driven by organic expansion and strategic acquisitions, with seven acquisitions completed through March 2026, expanding presence in North Carolina, South Carolina, and Georgia.
Maintains strong relationships with national and regional homebuilders, enabling recurring business and geographic expansion.
Vertically integrating operations by building asphalt plants and considering precast concrete manufacturing to enhance margins and control over supply chain.
Financial performance and metrics
Revenue for the year ended December 31, 2025 was $456.0 million, up 44.7% from $315.2 million in 2024; Q1 2026 revenue was $167.5 million, up 104.8% year-over-year.
Net income for 2025 was $31.1 million (6.8% margin), compared to $28.3 million (9.0% margin) in 2024; Q1 2026 net income was $11.5 million.
Adjusted EBITDA for 2025 was $81.5 million (17.9% margin), up from $56.5 million (17.9% margin) in 2024.
Backlog at March 31, 2026 was $854 million, with $702–$776 million expected to be recognized as revenue in the next 12 months.
End market revenue mix for 2025: 66% residential, 23% commercial/industrial/retail, 5% municipal/state, 6% materials and paving.
Use of proceeds and capital allocation
Net proceeds from the offering will be used to repay approximately $33 million under the October 2025 Credit Facility and for general corporate purposes, including acquisitions, working capital, capital expenditures, and debt repayment.
Management has flexibility in allocating proceeds based on business needs and market opportunities.
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Latest events from Cardinal Infrastructure Group
- Directors and auditor ratified with strong shareholder support; no questions or proposals raised.CDNL
AGM 20265 Jun 2026 - Disciplined M&A and vertical integration drive rapid Southeast expansion and strong financial growth.CDNL46th Annual William Blair Growth Stock Conference4 Jun 2026
- Revenue up 105% year-over-year to $167.5M, record backlog, and 2026 guidance raised.CDNLQ1 202613 May 2026
- Record 2025 revenue, backlog, and acquisitions drive strong 2026 outlook and margin expansion.CDNLQ4 202510 May 2026
- Shareholders to vote on directors and auditor after a milestone IPO and strong financial growth.CDNLProxy filing24 Apr 2026
- Vote on six director nominees and auditor ratification at the June 2026 virtual meeting.CDNLProxy filing24 Apr 2026
- High-growth infrastructure firm with strong margins and backlog seeks IPO to fund expansion.CDNLRegistration Filing12 Dec 2025
- IPO funds will support growth, equity redemptions, and debt repayment for a high-growth infrastructure firm.CDNLRegistration Filing11 Dec 2025
- Strong growth, robust backlog, and IPO proceeds to fund expansion and deleveraging.CDNLRegistration Filing11 Dec 2025
Next Cardinal Infrastructure Group earnings date
Q2 202611 Aug, 2026
Cardinal Infrastructure Group
Next Cardinal Infrastructure Group earnings date
Q2 202611 Aug, 2026
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Eferix Drawings Google Play
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@ankurshah47_ x.com
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Amina0781App Store
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@theshortbearx.com
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