Cardinal Infrastructure Group, Inc. (CDNL)
NASDAQ:CDNL
Earnings Data
Report Date
Mar 25, 2027Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.13Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial trajectory: very high revenue growth (105% YoY), record backlog ($854M), significant adjusted gross profit and EBITDA increases, an upgraded revenue outlook, successful M&A integration (ALGC), and a healthy balance sheet with low leverage. Near-term challenges include a compressed Q1 adjusted EBITDA margin (16%), increased working capital needs that reduced operating cash flow, elevated Q1 G&A due to one-time costs, and dilution from newer markets while integrations and seasonal weather constrained certain margins. Management provided a clear path to margin recovery (targeting 20%+ adjusted EBITDA for the full year), expects the asphalt plant online in Q2, and highlighted durable advantages from vertical integration and recurring customers. Overall, the positive growth, backlog, margin expansion at the gross level, and strong liquidity materially outweigh the short-term margin and working capital headwinds.Company Guidance
Record Quarterly Revenue Growth
Q1 revenue of $168.0M, up ~105% year-over-year; organic revenue growth of ~64% despite winter weather headwinds.
All-Time High Backlog
Backlog of $854M at quarter end, up 60% year-over-year and up 30% organically; backlog represents over 12 months of revenue at current run rate and included >$160M from ALGC.
Strong Profitability Gains at Gross Level
Gross profit of $24.9M (14.9% margin) vs $9.9M (12.1%) prior year; gross margins expanded ~280 basis points; adjusted gross profit $34M, up 107% year-over-year with adjusted gross margins +~20 bps.
Adjusted EBITDA Growth and Upgraded Guidance
Adjusted EBITDA of $27M, up 84% year-over-year. Company raised 2026 revenue guidance to $675M–$685M (prior $665M–$678M) and reiterated full-year adjusted EBITDA margin target of 20%+.
First Data Center Win and End-Market Diversification
Secured first mission-critical data center contract worth $24M (self-perform all services; completion expected 2027). End-market mix shifted from ~75% residential pre-IPO to ~65% residential, with growing commercial, industrial and mission-critical exposure.
Successful M&A Track Record and Integration
Completed 7 acquisitions since 2021 adding ~$310M of pro forma annual revenue; ALGC acquisition integrated quickly and contributed ~6 weeks of results in Q1; M&A framework targets tuck-ins ~4x EBITDA and platform deals ~6x EBITDA.
Solid Balance Sheet and Liquidity
Term loan outstanding $196M, $0 drawn on $75M revolver; net leverage ~1.2x (well below covenant 2.5x), providing capacity for operations, CapEx ($58M guidance) and M&A.
Operational Advantages from Vertical Integration
Self-perform full civil scope (clearing, erosion control, drilling/blasting, grading, wet utilities, paving) enabling 6–8 weeks schedule compression and >80% customer recurrence; workforce of ~2,500 employees and ~160 wet utility crews.
Investments to Increase Self-Sufficiency
CapEx in Q1 $9.3M (asphalt plant construction, fleet/equipment for Charlotte, Greensboro, Atlanta). Asphalt plant near completion and expected online in Q2 to support internal paving/resurfacing work.
Cardinal Infrastructure Group, Inc. (CDNL) Earnings, Revenues Date & History
CDNL Earnings History
Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release | Slides | Play Transcript |
|---|---|---|---|---|---|---|---|
Mar 25, 2027 | 2026 (Q4) | 0.13 | ― | ― | ― | ||
May 12, 2026 | 2026 (Q1) | ― | ― | ||||
Mar 19, 2026 | 2025 (Q4) | 0.12 | 8.33% (+0.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CDNL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | $60.37 | $57.09 | -5.43% |
Mar 19, 2026 | $32.72 | $33.18 | +1.41% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cardinal Infrastructure Group, Inc. (CDNL) report earnings?
Cardinal Infrastructure Group, Inc. (CDNL) is schdueled to report earning on Mar 25, 2027, Before Open (Confirmed).
What is Cardinal Infrastructure Group, Inc. (CDNL) earnings time?
Cardinal Infrastructure Group, Inc. (CDNL) earnings time is at Mar 25, 2027, Before Open (Confirmed).
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What is CDNL EPS forecast?
Currently, no data Available