Cardinal Infrastructure Q2 FY26 net income rises 18% to $11.1 million; revenue more than doubles to $226.9 million

Cardinal Infrastructure Group posted Q2 2026 revenue of $226.9 million, more than doubled year over year, with net income of $11.1 million.

Adjusted EBITDA rose 43% to $28.1 million, while adjusted EBITDA margin narrowed to 12.4% from 18.6% a year earlier.

Backlog climbed 35% from a year earlier to $866 million as of June 30.

Cardinal agreed to buy Atlanta-based Allied Paving for about $120 million, including roughly $62 million cash and $58 million in Class A stock.

The company raised its 2026 revenue outlook to $880 million-$900 million, projecting an adjusted EBITDA margin of 16%-18%.