
Cardinal Infrastructure Group (NASDAQ:CDNL) reported sharp first-quarter growth and raised its full-year revenue outlook, citing record backlog, strong organic demand and early contributions from its A.L. Grading Contractors acquisition.
Chairman and Chief Executive Officer Jeremy Spivey said revenue grew approximately 105% year over year in the first quarter of 2026, including organic growth of about 64%. Backlog ended the quarter at $854 million, which Spivey called an all-time high for the company.