Filing Flows › Cardinal Infrastructure Group (CDNL) › Q2 2026
Cardinal Infrastructure Group (CDNL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 12, 2026
Cardinal Infrastructure Group (CDNL) reported revenue of $227M for the second quarter 2026 (Q2 2026), +114% from a year earlier and +35% from the quarter before. Operating margin was 6.8%, net earnings $4.7M (2.1% of revenue).
Cardinal Infrastructure Group, Q2 2026: revenue $227M (+114% year over year), operating margin 6.8%, net earnings $4.7M, operating cash flow $12.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $227M | +35% | +114% |
| Operating profit | $15.5M | +5% | +32% |
| Net earnings | $4.7M | +37% | -35% |
| Operating cash flow | $12.7M | +36% | +200% |
What changed
Revenue was $226.9M in Q2 2026, up 114% year over year and up 35% from the previous quarter.
Operating profit was $15.5M, a 6.8% margin (down 4.2 points year over year). Of the extra revenue versus a year earlier, 3% reached operating profit, below the 11% margin then. Total costs grew 124% against revenue growth of 114%. The fastest-growing cost line was General & admin (+204%). Net earnings were $4.7M, down 35% year over year. The effective tax rate was -10.0%.
Operating cash flow was $12.7M (up 200% year over year), 114% of net income including minority interests. Non-cash charges added back $11.6M of depreciation and amortization and $270K of share-based compensation. Working capital and other items used $10.3M. Capital expenditures of $24.7M exceeded it, leaving free cash flow of −$12.0M.
Questions
What was Cardinal Infrastructure Group's revenue in the second quarter 2026?
Cardinal Infrastructure Group (CDNL) reported revenue of $227M for the second quarter 2026 (Q2 2026), +114% from a year earlier and +35% from the quarter before.
Was Cardinal Infrastructure Group profitable in the second quarter 2026?
Operating profit was $15.5M (6.8% of revenue) and net earnings $4.7M.