Q1 net income surged to $11.5 million as adjusted EBITDA rose 84% year-over-year to $26.8 million.
Cardinal Infrastructure Group Inc. reported first-quarter revenue of $167.5 million and GAAP earnings per share of $0.23. Net income climbed 73% to $11.5 million from the same period last year, driven by higher project volumes and improved margins.
Adjusted EBITDA reached $26.8 million, an 84% increase year-over-year, while backlog as of March 31, 2026, rose 60% to $854 million. The company cited strong demand in its core infrastructure segments for the gains.
Shares showed limited movement in after-hours trading following the release.