Argan (AGX) Q3 2026

Q1 2027 Q4 2026 Q3 2026 Q2 2026 Q1 2026

Earnings

Argan delivered a mixed but fundamentally encouraging fiscal third quarter, beating earnings expectations while falling short on the top line as project timing created a modest revenue drag. The power plant construction specialist earned $2.17 per di… Read more Argan delivered a mixed but fundamentally encouraging fiscal third quarter, beating earnings expectations while falling short on the top line as project timing created a modest revenue drag. The power plant construction specialist earned $2.17 per diluted share, clearing the $2.10 consensus by 3.52%, even as revenue of $251.15 million came in 5.20% below estimates and edged down 2.3% year over year from $257.01 million, with the decline reflecting recently awarded contracts still progressing through early construction phases. The more compelling story, however, was the record $2.97 billion project backlog, more than double the $1.36 billion reported at fiscal year-end 2025, fueled by two new large-scale gas-fired power projects in Texas totaling roughly 2.26 GW. Gross margin expanded to 18.7% from 17.2%, lifting net income to $30.74 million, while cash and investments swelled to $726.82 million on a zero-debt balance sheet. Despite some post-earnings volatility in the stock, management expressed confidence that the urgent demand for new combined-cycle natural gas capacity positions the company for sustained revenue growth and improved profitability in the years ahead.