Cardinal Infrastructure's stock soared 10% in pre-market trading following the release of its first quarter 2026 financial results that significantly exceeded analyst expectations.

The company reported Q1 revenue of $167.5 million, more than doubling year-over-year and beating the FactSet consensus estimate of $126.6 million. Net income climbed 73% to $11.5 million, while adjusted EBITDA rose 84% to $26.8 million. Cardinal also posted earnings of $0.23 per share, surpassing the $0.17-$0.18 analyst estimates.

Adding to the positive sentiment, the company raised its full-year 2026 revenue guidance to $675-$685 million from its previous range of $665-$678 million, citing strong contributions from its recent acquisition of A.L. Grading Contractors. The company's backlog reached an all-time high of $854 million as of March 31, representing a 60% increase from the prior year, providing strong visibility for future growth.