Cardinal Infrastructure Reports Q2 Results, Updates Outlook, and Acquires Allied Paving
CDNL has more than doubled off its 52-week low of $21.98.
Summary
Cardinal Infrastructure reported Q2 2026 revenue of $226.9 million and a backlog of $866 million as of June 30, 2026. The company updated its full-year 2026 outlook, raising revenue guidance to $880 million to $900 million. Cardinal also announced the acquisition of Allied Paving, expanding its paving capabilities and adding to the recent Piedmont Pipe Construction deal. The results and outlook provide insight into the deployment of proceeds from the upsized $336 million public offering closed in late June. The updated guidance will be key for assessing growth targets.
At the time of this announcement, CDNL was trading at $59.50 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $21.98 to $96.40. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.