Cardinal Infrastructure Group Inc（CDNL）のニュースとイベントCDNLCardinal Infrastructure Group Inc

Cardinal Infrastructure Secures Approximately $40M Contract

Cardinal Infrastructure (CDNL) announced that A.L. Grading Contractors, ALGC, has been awarded an approximately $40M contract to deliver full-site civil infrastructure services for the Carnesville, Georgia, Walmart (WMT) Sorting Facility. The 164-acre project will be self-performed by ALGC and Allied Paving Contractors, Cardinal's previously announced paving company acquisition expected to close in the fourth quarter. The scope of work includes mass grading of 1.8 million cubic yards; 54,000 linear feet of storm, sewer and water utility work; a 1.5 million-square-foot building pad; fine grading for asphalt and concrete paving; and 83,000 yards of asphalt paving.

Cardinal Infrastructure Shares Drop 27.5% to $43.48

Cardinal Infrastructure is down -27.5%, or -$16.52 to $43.48.

Cardinal Reports Q2 Revenue of $226.9M, a Record High

Reports Q2 revenue $226.9M vs $106.1M last year. "This was one of the strongest growth quarters in Cardinal's history," said Jeremy Spivey, Chairman and Chief Executive Officer. "We delivered record revenue, our backlog climbed to an all-time high, and today we announced Allied Paving, our ninth acquisition since 2021, following Piedmont Pipe in Charlotte in May. Keeping pace with this level of customer demand, and investing to capture the opportunity it represents, cost more than we expected this quarter, resulting in margins below plan."