Cardinal Infrastructure Group Inc.
For the period ended Jun 30, 2026. Filed Aug 12, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 12, 2026
CDNL$14.60-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Changes in Stockholders' Equity
Condensed Consolidated Statements of Changes in Stockholders'/Members' Equity (Unaudited)
Three and Six Months Ended June 30, 2026 and 2025
| Cardinal Infrastructure Group Inc. stockholders | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A CommonStock · Class B CommonStock | |||||||||||||||||||||
| Members' Equity · Shares · Amount · Shares · Amount · AdditionalPaid-inCapital · RetainedEarnings · Accumulated Other Comprehensive income (loss) · NoncontrollingInterests · TotalEquity | |||||||||||||||||||||
| Balance, December 31, 2024 | $11,757,715 | — | $— | — | $— | $— | $— | $— | $11,596,261 | $23,353,976 | |||||||||||
| Net income | 5,476,981 | 1,164,764 | 6,641,745 | ||||||||||||||||||
| Member distributions | (2,640,321) | (157,615) | (2,797,936) | ||||||||||||||||||
| Rollover equity issued in business combinations | — | 2,800,000 | 2,800,000 | ||||||||||||||||||
| Balance, March 31, 2025 | $14,594,375 | — | $— | — | $— | $— | $— | $— | $15,403,410 | $29,997,785 | |||||||||||
| Net income | 7,167,705 | 2,282,422 | 9,450,127 | ||||||||||||||||||
| Member distributions | (2,660,337) | (336,420) | (2,996,757) | ||||||||||||||||||
| Rollover equity issued in business combinations | 1,740,000 | 1,740,000 | |||||||||||||||||||
| Balance, June 30, 2025 | $19,101,743 | — | $— | — | $— | $— | $— | $— | $19,089,412 | $38,191,155 | |||||||||||
| Balance, December 31, 2025 | $— | 14,947,318 | $1,495 | 23,387,813 | $2,339 | $57,593,814 | $863,593 | $— | $81,076,582 | $139,537,823 | |||||||||||
| Net income | — | — | — | — | — | 3,418,438 | — | 8,062,598 | 11,481,036 | ||||||||||||
| Unrealized cash flow hedge losses, net of tax benefit of $24,756 | — | — | — | — | — | — | (158,259) | (367,918) | (526,177) | ||||||||||||
| Realized cash flow hedge losses reclassified to net income | — | — | — | — | — | — | 6,355 | 11,458 | 17,813 | ||||||||||||
| Restricted stock awards, net | — | — | — | — | 191,852 | — | — | — | 191,852 | ||||||||||||
| Class A stock awards issued in consideration for ALGC Acquisition | 345,666 | 35 | — | — | 8,489,522 | — | — | — | 8,489,557 | ||||||||||||
| Class B equity issued in consideration for ALGC Acquisition | — | — | 4,186,062 | 418 | — | — | — | 102,809,264 | 102,809,682 | ||||||||||||
| Balance, March 31, 2026 | $— | 15,292,984 | $1,530 | 27,573,875 | $2,757 | $66,275,188 | $4,282,031 | $(151,904) | $191,591,984 | $262,001,586 | |||||||||||
| Net income | — | — | — | — | 4,675,367 | 6,472,939 | 11,148,306 | ||||||||||||||
| Unrealized cash flow hedge gains, net of tax benefit of $56,315 | — | — | — | — | — | — | 177,137 | 412,398 | 589,535 | ||||||||||||
| Realized cash flow hedge losses reclassified to net income | — | — | — | — | — | — | 8,397 | 14,832 | 23,229 | ||||||||||||
| Restricted stock awards, net | 6,200 | 1 | — | — | 269,664 | — | — | — | 269,665 | ||||||||||||
| Issuance of Class A common stock sold in secondary public offering and greenshoe, net of underwriting discounts of $16.790 million and other offering costs of $0.568 million | 4,600,000 | 460 | — | — | 318,440,677 | — | — | — | 318,441,137 | ||||||||||||
| Exchange of Class B Units from Continuing Owners | 339,426 | 34 | (339,426) | (34) | 2,433,647 | — | — | (2,433,647) | — | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Establishment of tax receivable agreement liability and corresponding deferred tax assets | — | — | — | — | 1,016,242 | — | — | 1,016,242 | ||||||||||
| Allocation of equity to non-controlling interests | — | — | — | — | (152,374,180) | — | — | 152,374,180 | — | |||||||||
| Balance, June 30, 2026 | $— | 20,238,610 | $2,025 | 27,234,449 | $2,723 | $236,061,238 | $8,957,398 | $33,630 | $348,432,686 | $593,489,700 | ||||||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.