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Argan

Argan (AGX) Q2 2026 Earnings

Reported Sep 4, 2025 at 4:06 PM ET · SEC Source

Q2 26 EPS

$2.50

BEAT +52.44%

Est. $1.64

Q2 26 Revenue

$237.7M

MISS 2.55%

Est. $244.0M

vs S&P Since Q2 26

+233.4%

BEATING MARKET

AGX +248.6% vs S&P +15.2%

Market Reaction

Did AGX Beat Earnings? Q2 2026 Results

Argan delivered a standout second quarter for fiscal 2026, posting diluted EPS of $2.50 against a consensus estimate of $1.64, a beat of 52.44% that reflects a dramatic shift in the company's profitability profile. Revenue climbed 4.7% year-over-year… Read more Argan delivered a standout second quarter for fiscal 2026, posting diluted EPS of $2.50 against a consensus estimate of $1.64, a beat of 52.44% that reflects a dramatic shift in the company's profitability profile. Revenue climbed 4.7% year-over-year to $237.74 million, falling just 2.55% short of the $243.97 million analysts had expected, a modest top-line miss that was more than offset by the earnings strength underneath. The core driver was a sharp expansion in gross margins within the Power Industry Services segment, which lifted consolidated margins to 18.6% from 13.7% in the year-ago period, with an unusually low income tax expense tied to stock option exercise deductions amplifying the bottom-line result. EBITDA surged to $36.23 million, representing 15.2% of revenues compared to 10.9% a year earlier. Adding to the constructive picture, the company's project backlog reached a record $1.95 billion, up from $1.36 billion earlier in the year, signaling meaningful revenue acceleration ahead as recently awarded projects move toward active construction.

Key Takeaways

  • • Improved gross profit margins in the Power Industry Services segment driving 18.6% consolidated gross margin vs. 13.7% year-ago
  • • Increased project activity from growing number of current projects and contract backlog
  • • Favorable tax benefit from stock option exercise deductions reducing income tax expense to $361K on $35.6M pre-tax income
  • • Completion of LNG project in Louisiana and first fire milestones at Trumbull units
  • • Investment income contributing $5.6 million in other income
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AGX YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

“We drove continued momentum in the second quarter of fiscal 2026, as reflected in consolidated revenue of $237.7 million, gross margin of 18.6%, significantly improved diluted earnings per share of $2.50 and substantially increased EBITDA of $36.2 million. Additionally, demand for our capabilities across all of our business segments remains strong, with record backlog of $2.0 billion.”

— David Watson, Q2 2026 Earnings Press Release

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