Cadeler Reports Doubled Q1 Revenue & EBITDA, Maintains Strong 2026 Guidance
CDLR sits 75% above its 52-week low of $15.37 on elevated volume (3.0× avg).
Summary
Cadeler A reported strong financial results for Q1 2026, with revenue and EBITDA more than doubling year-over-year, while reiterating its full-year 2026 guidance.
Key Events · Earnings and Guidance · CDLR
-
Strong Q1 Financial Performance
Revenue increased to EUR 125 million (up from EUR 65 million in Q1 2025) and EBITDA rose to EUR 47 million (from EUR 24 million in Q1 2025), both more than doubling year-over-year.
-
Maintained Full-Year Guidance
Cadeler reiterated its full-year 2026 revenue guidance of EUR 854 million to EUR 944 million and EBITDA guidance of EUR 420 million to EUR 510 million.
-
Robust Order Backlog
The company's order backlog remained strong at EUR 2,705 million as of March 31, 2026, with 82% related to projects with final investment decisions.
-
Fleet Expansion and Strategic Investments
The company highlighted the successful completion of a EUR 175 million private placement in March 2026 to fund new T-class vessels and a vessel for scour protection, reinforcing its long-term fleet strategy.
Analysis · CDLR · Energy & Transportation
Cadeler's Q1 2026 performance demonstrates significant growth, with revenue and EBITDA more than doubling year-over-year, driven by fleet expansion and increased operational activity. Despite a temporary dip in fleet utilization due to vessel transits and maintenance, the robust order backlog and maintained full-year guidance underscore continued positive momentum in the offshore wind installation market.
At the time of this filing, CDLR was trading at $26.87 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $15.37 to $30.01. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.