Cardinal Infrastructure Posts Q3 Loss, Withdraws Guidance and Delays Acquisition
Cardinal Infrastructure reported a statutory third-quarter loss of US$0.21 per share and US$202 million in revenue, which was 14% below forecasts. EBITDA margin fell to 4.2%; the company withdrew full-year guidance and postponed its planned US$357 million acquisition.
Cardinal Infrastructure Group Inc. (NASDAQ: CDNL) reported a statutory loss of US$0.21 per share for the third quarter, missing analyst expectations of a profit. Revenue for the period was US$202 million, falling 14% short of forecasts. In response to the results, the company issued a profit warning, noting that its EBITDA margin dropped to 4.2%, and subsequently withdrew its full-year financial guidance.
Additionally, the company announced the postponement of a planned US$357 million acquisition to prioritize operational recovery and margin stabilization.