NYSE: AGX
ARGAN INCCIK 0000100591 · SIC 1700 · Construction - Special Trade Contractors
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Argan Q2 revenue jumps 61.5% to $384.0M on new gas-fired power projects
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Argan declares $0.50 quarterly dividend, holds routine annual meeting
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Argan revenue surges 50% on accelerated power projects; backlog hits $291.0M record
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Argan reports Q1 FY2026 financial results for three months ended April 30, 2026
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Argan boosts buyback program to $200M, declares $0.50 quarterly dividend
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revenue $944.6M, net income $137.8M. Argan backlog doubles to on five new gas-fired power projects; FY2026 net income up 61%
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Argan reports Q4 and fiscal 2026 earnings results
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Latest financial statements
From 10-Q filed Sep 2, 2026 (period ending Jul 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Earnings (Unaudited)
(In thousands, except per share data)
| Description | Three months ended July 31, 2026 | Three months ended July 31, 2025 | Six months ended July 31, 2026 | Six months ended July 31, 2025 |
|---|---|---|---|---|
| REVENUES | 383,976 | 237,743 | 674,930 | 431,403 |
| Cost of revenues | 309,758 | 193,476 | 539,598 | 350,273 |
| GROSS PROFIT | 74,218 | 44,267 | 135,332 | 81,130 |
| Selling, general and administrative expenses | 17,413 | 14,212 | 33,132 | 26,733 |
| INCOME FROM OPERATIONS | 56,805 | 30,055 | 102,200 | 54,397 |
| Other income, net | 10,083 | 5,581 | 18,457 | 11,025 |
| INCOME BEFORE INCOME TAXES | 66,888 | 35,636 | 120,657 | 65,422 |
| Provision for income taxes | 13,586 | 361 | 21,292 | 7,597 |
| NET INCOME | 53,302 | 35,275 | 99,365 | 57,825 |
| OTHER COMPREHENSIVE INCOME, NET OF TAXES | ||||
| Foreign currency translation adjustments | (267) | (251) | (808) | 3,370 |
| Net unrealized (losses) gains on available-for-sale securities | (4,550) | (1,082) | (7,209) | 1,598 |
| COMPREHENSIVE INCOME | 48,485 | 33,942 | 91,348 | 62,793 |
| EARNINGS PER SHARE | ||||
| Basic | 3.80 | 2.57 | 7.10 | 4.23 |
| Diluted | 3.76 | 2.50 | 7.01 | 4.09 |
| WEIGHTED AVERAGE SHARES OUTSTANDING | ||||
| Basic | 14,028 | 13,731 | 13,994 | 13,680 |
| Diluted | 14,164 | 14,131 | 14,181 | 14,122 |
| CASH DIVIDENDS PER SHARE | 0.500 | 0.375 | 1.000 | 0.750 |
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in thousands, except per share data)
| Description | July 31, 2026 | January 31, 2026 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | 364,481 | 339,481 |
| Investments | 663,965 | 555,500 |
| Accounts receivable, net | 180,356 | 133,677 |
| Contract assets | 35,713 | 43,397 |
| Other current assets | 73,955 | 60,202 |
| TOTAL CURRENT ASSETS | 1,318,470 | 1,132,257 |
| Property, plant and equipment, net | 22,797 | 16,596 |
| Goodwill | 30,670 | 28,033 |
| Intangible assets, net | 6,030 | 1,450 |
| Right-of-use and other assets | 23,003 | 8,018 |
| TOTAL ASSETS | 1,400,970 | 1,186,354 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | 115,212 | 107,540 |
| Accrued expenses | 135,878 | 89,748 |
| Contract liabilities | 627,020 | 513,969 |
| TOTAL CURRENT LIABILITIES | 878,110 | 711,257 |
| Deferred taxes, net | 3,061 | 6,555 |
| Noncurrent liabilities | 12,960 | 6,280 |
| TOTAL LIABILITIES | 894,131 | 724,092 |
| COMMITMENTS AND CONTINGENCIES (see Notes 8 and 9) | ||
| STOCKHOLDERS’ EQUITY | ||
| Preferred stock, par value $0.10 per share 500,000 shares authorized; no shares issued and outstanding | — | — |
| Common stock, par value $0.15 per share 30,000,000 shares authorized; 15,828,289 shares issued; 14,032,792 and 13,950,712 shares outstanding at July 31, 2026 and January 31, 2026, respectively | 2,374 | 2,374 |
| Additional paid-in capital | 165,039 | 167,234 |
| Retained earnings | 491,539 | 406,197 |
| Treasury stock, at cost 1,795,497 and 1,877,577 shares at July 31, 2026 and January 31, 2026, respectively | (144,914) | (114,361) |
| Accumulated other comprehensive (loss) income | (7,199) | 818 |
| TOTAL STOCKHOLDERS’ EQUITY | 506,839 | 462,262 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 1,400,970 | 1,186,354 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended July 31, 2026 | Six months ended July 31, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | 99,365 | 57,825 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Stock compensation expense | 4,458 | 3,453 |
| Depreciation | 1,204 | 906 |
| Changes in accrued interest on investments | (1,816) | 538 |
| Non-cash lease expense | 4,487 | 2,151 |
| Deferred income tax (benefit) expense | (1,382) | 767 |
| Other | 313 | (1,034) |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (44,468) | (3,226) |
| Contract assets | 7,784 | 4,689 |
| Other assets | (13,693) | (1,731) |
| Accounts payable and accrued expenses | 41,051 | (12,022) |
| Contract liabilities | 113,051 | 17,579 |
| Net cash provided by operating activities | 210,354 | 69,895 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of short-term investments | (72,500) | (25,000) |
| Maturities of short-term investments | 42,500 | 80,000 |
| Purchases of available-for-sale securities | (120,084) | (92,164) |
| Maturities of available-for-sale securities | 35,000 | 25,000 |
| Acquisition, net of cash acquired | (7,970) | — |
| Purchases of property, plant and equipment | (7,688) | (2,089) |
| Net cash used in investing activities | (130,742) | (14,253) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Common stock repurchases | (9,649) | (7,048) |
| Payments of cash dividends | (14,023) | (10,247) |
| Settlements of share-based awards, net of withholding taxes paid | (28,057) | (7,632) |
| Net cash used in financing activities | (51,729) | (24,927) |
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH | (2,883) | 1,872 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 25,000 | 32,587 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 339,481 | 145,263 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | 364,481 | 177,850 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Right-of-use assets obtained in exchange for lease obligations | 19,046 | 2,147 |
| SUPPLEMENTAL CASH FLOW INFORMATION | ||
| Cash paid for operating leases | 4,493 | 2,070 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share data); (Dollars in thousands, except per share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗