Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMarketBeatTue, August 11, 2026 at 6:04 PM GMT+2 6 min readCardinal Infrastructure Group (NASDAQ:CDNL) reported record second-quarter revenue and backlog while raising its full-year revenue outlook, though profitability fell below management's expectations as the company absorbed higher labor, equipment and weather-related costs.Second-quarter revenue totaled $227 million, up $115 million, or 114%, from the prior-year period. Chief Financial Officer Mike Rowe said the result included approximately 56% organic growth, with growth accelerating in May and June. Adjusted EBITDA increased 43% year over year to $28.1 million, while adjusted EBITDA margin declined to 12.4% from 18.6% a year earlier.→ SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat"This was a record quarter for Cardinal," Chairman and Chief Executive Officer Jeremy Spivey said, citing record revenue, record backlog and the company's latest acquisition.Revenue outlook rises as backlog reaches $866 millionCardinal raised its 2026 revenue guidance to $880 million to $900 million, representing 95% year-over-year growth at the midpoint. The company had previously guided for $680 million to $890 million. Management said its $866 million backlog at the end of the second quarter was up 35% from a year earlier, with growth across commercial and industrial as well as residential projects.→