Cardinal Infrastructure Group Inc. (CDNL) on Tuesday reported second-quarter net income of $4.7 million. The Raleigh, North Carolina-based company said it had profit of 26 cents per share. Earnings, adjusted for non-recurring costs, came to 32 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The civil contractor and infrastructure services provider posted revenue of $226.9 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $176.1 million.
Cardinal expects full-year revenue in the range of $880 million to $900 million.
Original reporting: Alexandria, VA News – WTOP News — read the source article.
