On March 19, 2026, Cardinal Infrastructure Group Inc. (NASDAQ: CDNL) announced its financial results for the year ended December 31, 2025, showcasing a remarkable revenue increase of 45%, reaching $456 million. This growth was driven by strong demand in residential and commercial sectors across its core markets in North Carolina. The company also reported a net income of $31.1 million, a 10% increase from the previous year, and an adjusted EBITDA of $81.5 million, reflecting a 44% rise. Cardinal's backlog as of December 31, 2025, stood at $682 million, up 33% from the prior year, indicating robust project activity and demand for its services. The company has affirmed its guidance for 2026, projecting revenues between $665 million and $678 million, with an adjusted EBITDA margin exceeding 20%. This positive outlook is bolstered by the recent acquisition of A.L. Grading Contractors, which is expected to enhance Cardinal's operational capabilities and market presence. CEO Jeremy Spivey emphasized the company's commitment to growth and operational excellence, stating, "2025 was a milestone year for Cardinal. Our teams delivered 45% revenue growth, grew backlog to $682 million, and took the company public in December." The company is well-positioned to capitalize on ongoing market opportunities and maintain its growth trajectory in the coming year.

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