Argan, Inc. (NYSE: AGX) Q1 2026 Earnings Call | 6/4/2025

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Argan, Inc. (NYSE: AGX) reported Q1 2026 results on June 4, 2025, delivering consolidated revenue of $193.7 million, up 23% year-over-year, as robust project activity and a growing backlog fueled growth. Gross profit more than doubled to $36.9 million, with gross margin expanding to 19.0% from 11.4% last year, reflecting a favorable project mix and improved operational performance. Net income soared to $22.6 million, or $1.60 per diluted share—up from $7.9 million ($0.58 per share) a year ago and beating consensus EPS forecasts by 78%. EBITDA jumped to $30.3 million, or 15.6% of revenue, compared to $11.9 million (7.5%) in Q1 last year. The Power Industry Services segment was the primary growth driver, with revenue up 45% to $160 million and accounting for 83% of total revenue. The Industrial Construction Services segment declined to $29 million, and Telecommunications Infrastructure Services contributed 2% of total revenue. Argan ended the quarter with a record project backlog of $1.9 billion, bolstered by the full notice to proceed on the 1.2 GW Sandow Lakes Power Station in Texas. The company’s financial position remains exceptionally strong, with $546.5 million in cash and investments and no debt. Shareholder returns were enhanced with a quarterly dividend of $0.375 per share (up from $0.30 last year) and an expanded share repurchase program to $150 million. Management highlighted a robust project pipeline, driven by rising energy demand from data centers, onshoring of manufacturing, and EV charging infrastructure, as well as the aging of existing power facilities. Argan reiterated its disciplined focus on profitable growth and its strong positioning as a leading partner for large-scale energy infrastructure projects. Outlook: Record $1.9 billion backlog supports multi-year revenue visibility Continued focus on high-quality, reliable energy projects and disciplined capital allocation Well-positioned to capitalize on surging U.S. power infrastructure demand About Inside Ticker: For more expert analysis and real-time updates on Argan, Inc. (NYSE: AGX) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #Argan #AGX #EarningsCall #Q12026 #PowerInfrastructure #Backlog #Dividend #StockMarket #Investing #InsideTicker