Argan revenue surges 50% on accelerated power projects; backlog hits $2.8B record

Filed June 4, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 4, 2025 · ~1 min read

Key Changes

• high

  Q1 revenue jumped 50% to $291M and net income more than doubled to $46M ($3.24/share) on ramped construction of multiple gigawatt-scale thermal power plants and strong execution on solar/battery projects.

  MD&A: Consolidated Results verify on EDGAR →
• high

  Project backlog grew 47% year-over-year to $2.8B, driven by two large thermal contracts (1.4 GW and 860 MW) awarded in October 2025 and a 170 MW Ireland project.

  MD&A: Backlog verify on EDGAR →
• high

  Industrial segment backlog more than doubled to $225M on a 2,000-vessel data-center cooling contract; company purchased North Carolina land for new fabrication facility (completion Q3 FY2027).

  MD&A: Industrial Segment verify on EDGAR →