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Argan, Inc. Reports Third Quarter Fiscal 2025 Results

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Argan (NYSE: AGX) reported strong Q3 FY2025 financial results with revenues reaching $257.0 million, up 57% year-over-year. The company achieved net income of $28.0 million ($2.00 per diluted share), compared to $5.5 million ($0.40 per diluted share) in Q3 FY2024.

Key highlights include gross margin improvement to 17.2% from 11.7%, EBITDA increase to $37.5 million from $12.2 million, and project backlog growth to $800 million. The power industry services segment showed particularly strong performance with 75% revenue growth to $212 million and 18.3% gross margin.

The company maintains a strong financial position with $506.3 million in cash, cash equivalents and investments, and zero debt. Quarterly cash dividend increased to $0.375 per share from $0.300 year-over-year.

Argan (NYSE: AGX) ha riportato risultati finanziari solidi per il terzo trimestre dell'anno fiscale 2025, con ricavi pari a 257,0 milioni di dollari, in crescita del 57% rispetto all'anno precedente. L'azienda ha registrato un utile netto di 28,0 milioni di dollari (2,00 dollari per azione diluita), rispetto ai 5,5 milioni di dollari (0,40 dollari per azione diluita) nel terzo trimestre dell'anno fiscale 2024.

Tra i principali punti salienti si evidenzia un miglioramento del margine lordo, che è passato dal 11,7% al 17,2%, un incremento dell'EBITDA a 37,5 milioni di dollari, rispetto ai 12,2 milioni di dollari precedenti, e una crescita del portafoglio progetti a 800 milioni di dollari. Il settore dei servizi per l'industria energetica ha registrato performance particolarmente forti, con una crescita dei ricavi del 75%, raggiungendo i 212 milioni di dollari e un margine lordo del 18,3%.

L'azienda mantiene una solida posizione finanziaria con 506,3 milioni di dollari in contante, in varianti equivalenti e investimenti, e zero debiti. Il dividendo trimestrale in contante è aumentato a 0,375 dollari per azione, rispetto ai 0,300 dollari dell'anno precedente.

Argan (NYSE: AGX) reportó resultados financieros sólidos para el tercer trimestre del año fiscal 2025, con ingresos que alcanzaron los 257,0 millones de dólares, un aumento del 57% en comparación con el año anterior. La compañía obtuvo un ingreso neto de 28,0 millones de dólares (2,00 dólares por acción diluida), en comparación con 5,5 millones de dólares (0,40 dólares por acción diluida) en el tercer trimestre del año fiscal 2024.

Los aspectos más destacados incluyen una mejora en el margen bruto al 17,2% desde el 11,7%, un aumento del EBITDA a 37,5 millones de dólares desde 12,2 millones de dólares, y un crecimiento en la cartera de proyectos a 800 millones de dólares. El segmento de servicios para la industria energética mostró un desempeño especialmente fuerte, con un crecimiento de ingresos del 75% alcanzando los 212 millones de dólares y un margen bruto del 18,3%.

La empresa mantiene una sólida posición financiera con 506,3 millones de dólares en efectivo, equivalentes de efectivo e inversiones, y cero deudas. El dividendo en efectivo trimestral aumentó a 0,375 dólares por acción desde 0,300 dólares en comparación con el año anterior.

아르간 (NYSE: AGX)는 2025 회계연도 3분기 재무 실적이 양호하다고 보고했으며, 수익이 2억 5천7백만 달러로 전년 대비 57% 증가했습니다. 회사는 2천8백만 달러의 순이익(희석 주당 2.00 달러)을 달성했으며, 이는 2024 회계연도 3분기의 5백5십만 달러(희석 주당 0.40 달러)와 비교됩니다.

주요 하이라이트에는 총 마진이 11.7%에서 17.2%로 개선되었고, EBITDA가 1천2백2십만 달러에서 3천7백5십만 달러로 증가했으며, 프로젝트 백로그가 8억 달러로 성장했습니다. 전력 산업 서비스 부문은 75%의 수익 성장을 기록하며 2억 1천2백만 달러와 18.3%의 총 마진을 보였습니다.

회사는 5억 6백3십만 달러의 현금, 현금성 자산 및 투자와 제로 부채를 가지고 있으며, 안정적인 재무 상태를 유지하고 있습니다. 분기 현금 배당금은 전년 대비 0.300 달러에서 0.375 달러로 증가했습니다.

Argan (NYSE: AGX) a annoncé des résultats financiers solides pour le troisième trimestre de l'exercice 2025, avec des revenus atteignant 257,0 millions de dollars, en hausse de 57 % par rapport à l'année précédente. L'entreprise a réalisé un bénéfice net de 28,0 millions de dollars (2,00 dollars par action diluée), contre 5,5 millions de dollars (0,40 dollars par action diluée) au troisième trimestre de l'exercice 2024.

Les principaux points forts incluent une amélioration de la marge brute à 17,2 % contre 11,7 %, une augmentation de l'EBITDA à 37,5 millions de dollars contre 12,2 millions de dollars, et une croissance du portefeuille de projets à 800 millions de dollars. Le segment des services de l'industrie énergétique a affiché une performance particulièrement forte avec une croissance des revenus de 75 % atteignant 212 millions de dollars et une marge brute de 18,3 %.

L'entreprise maintient une position financière solide avec 506,3 millions de dollars en liquidités, équivalents de liquidités et investissements, et aucune dette. Le dividende trimestriel en espèces a augmenté à 0,375 dollars par action contre 0,300 dollars d'une année sur l'autre.

Argan (NYSE: AGX) berichtete über starke Finanzergebnisse im dritten Quartal des Geschäftsjahres 2025 mit einem Umsatz von 257,0 Millionen Dollar, was einem Anstieg von 57% im Jahresvergleich entspricht. Das Unternehmen erzielte einen Nettogewinn von 28,0 Millionen Dollar (2,00 Dollar pro verwässerter Aktie), im Vergleich zu 5,5 Millionen Dollar (0,40 Dollar pro verwässerter Aktie) im dritten Quartal des Geschäftsjahres 2024.

Wichtige Highlights umfassen eine Verbesserung der Bruttomarge von 11,7% auf 17,2%, einen Anstieg des EBITDA von 12,2 Millionen Dollar auf 37,5 Millionen Dollar und ein Wachstum des Projektauftragsbestands auf 800 Millionen Dollar. Der Bereich der Dienstleistungen für die Energieindustrie zeigte eine besonders starke Leistung mit einem Umsatzwachstum von 75% auf 212 Millionen Dollar und einer Bruttomarge von 18,3%.

Das Unternehmen hat eine starke finanzielle Position mit 506,3 Millionen Dollar in bar, liquiden Mitteln und Investitionen sowie keinen Schulden. Die quartalsweise Barausschüttung wurde von 0,300 Dollar auf 0,375 Dollar pro Aktie erhöht.

Positive
  • Revenue increased 57% YoY to $257.0 million in Q3
  • Net income grew to $28.0 million from $5.5 million YoY
  • Gross margin improved to 17.2% from 11.7%
  • Project backlog increased 6% to $800 million
  • Cash position strengthened to $506.3 million
  • Power services segment revenue grew 75% to $212 million
  • Quarterly dividend increased by 25% to $0.375 per share
Negative
  • Selling, general and administrative expenses increased by $2.6 million YoY

Insights

The Q3 FY2025 results demonstrate exceptional performance with several noteworthy metrics. Revenues surged 57% to $257 million, while gross margin expanded significantly to 17.2% from 11.7% year-over-year. The net income jumped to $28 million, translating to diluted EPS of $2.00, marking the second-highest quarterly performance in company history.

The robust balance sheet shows cash and investments of $506.3 million, up $93.9 million from January 2024, with zero debt. The project backlog stands strong at $800 million, including $478 million in renewable projects, indicating healthy future revenue streams. The company's strategic positioning in both traditional and renewable power facilities, coupled with increasing power demand from data centers and EV infrastructure, suggests strong growth potential.

Argan's strategic diversification across renewable and natural gas projects is proving highly effective. The power industry services segment's performance is particularly impressive, with revenue growth of 75% to $212 million and an outstanding gross margin of 18.3%. The company's energy-agnostic approach and established reputation in project execution provide a significant competitive advantage in the current market landscape.

The increasing demand for power infrastructure, driven by data center expansion and manufacturing reshoring, positions Argan favorably for sustained growth. The company's ability to execute both renewable and traditional power projects efficiently makes it well-suited to capitalize on the anticipated unprecedented growth in power demand.

ROCKVILLE, Md.--(BUSINESS WIRE)-- Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announces financial results for its third quarter of fiscal year 2025 ended October 31, 2024. The Company will host an investor conference call today, December 5, 2024, at 5:00 p.m. ET.

Consolidated Financial Highlights

($ in thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

October 31,

 

 

 

 

For the Quarter Ended:

 

2024

 

2023

 

Change

 

Revenues

 

$

257,008

 

$

163,755

 

$

93,253

 

Gross profit

 

 

44,327

 

 

19,235

 

 

25,092

 

Gross margin %

 

 

17.2

%

 

11.7

%

 

5.5

%

Net income

 

$

28,010

 

$

5,464

 

$

22,546

 

Diluted income per share

 

 

2.00

 

 

0.40

 

 

1.60

 

EBITDA

 

 

37,509

 

 

12,180

 

 

25,329

 

Cash dividends per share

 

 

0.375

 

 

0.300

 

 

0.075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

October 31,

 

 

 

 

For the Nine Months Ended:

 

2024

 

2023

 

Change

 

Revenues

 

$

641,705

 

$

408,779

 

$

232,926

 

Gross profit

 

 

93,376

 

 

57,201

 

 

36,175

 

Gross margin %

 

 

14.6

%

 

14.0

%

 

0.6

%

Net income

 

$

54,090

 

$

20,340

 

$

33,750

 

Diluted income per share

 

 

3.91

 

 

1.50

 

 

2.41

 

EBITDA

 

 

74,241

 

 

33,774

 

 

40,467

 

Cash dividends per share

 

 

0.975

 

 

0.800

 

 

0.175

 

 

 

 

 

 

 

 

 

 

 

 

 

 

October 31,

 

January 31,

 

 

 

 

As of:

 

2024

 

2024

 

Change

 

Cash, cash equivalents and investments

 

$

506,282

 

$

412,405

 

$

93,877

 

Net liquidity (1)

 

 

280,977

 

 

244,919

 

 

36,058

 

Share repurchase treasury stock, at cost

 

 

102,746

 

 

97,528

 

 

5,218

 

Project backlog

 

 

800,000

 

 

757,000

 

 

43,000

 

(1)

 

Net liquidity, or working capital, is defined as total current assets less total current liabilities.

David Watson, President and Chief Executive Officer of Argan, commented, “Our third quarter revenues and earnings, each the second highest in Company history, reflect strong execution across all of our businesses, which drove consolidated revenues growth of 57% to $257 million, gross margin of 17.2%, net income of $28.0 million, or $2.00 per diluted share, and EBITDA of $37.5 million. Our power industry services segment had a particularly strong quarter as evidenced by revenue growth of 75% to $212 million with gross margin of 18.3%, demonstrating our ability to drive enhanced profitability on our renewable as well as on our natural gas projects.

“Our backlog of $0.8 billion at the close of the quarter increased 6% compared to backlog entering fiscal year 2025, and includes $478 million of renewable projects, reflecting the market appeal of our energy agnostic capabilities and our ability to diversify our backlog mix. The industry is seeing strong demand for natural gas projects and we believe that our expertise, well-established industry relationships and reputation for enabling efficient and on-budget project completion provide a competitive advantage as we pursue new opportunities.

“As we move through the close of our fiscal year, we are encouraged by the strengthening pipeline of planned energy facilities as the industry prepares for the anticipated unprecedented growth in power demand driven by data centers, reshoring of manufacturing operations and increased EV charger utilization. We believe our successful track record as an effective partner in the construction of both traditional and renewable power facilities position us well to capitalize on the current and future need for high quality energy resources to support the power grid.”

Third Quarter Results

Consolidated revenues for the quarter ended October 31, 2024 were $257.0 million, an increase of $93.3 million, or 57%, from consolidated revenues of $163.8 million reported for the comparable prior year quarter. The Company achieved increased revenues with heightened quarterly construction activities at several projects, including the Midwest Solar and Battery Projects; the Trumbull Energy Center, a large combined cycle, gas-fired power plant under construction near Lordstown, Ohio; the 405 MW Midwest Solar Project; and the Louisiana LNG Facility. The overall increase in consolidated revenues between quarters was partially offset by decreased construction revenues associated with the Guernsey Power Station project, the Shannonbridge Power Project and the ESB FlexGen Peaker Plants, as those projects have been completed.

For the quarter ended October 31, 2024, Argan’s consolidated gross profit was approximately $44.3 million, or 17.2% of consolidated revenues, reflecting profit contributions from all three reportable business segments. The consolidated gross margin for the quarter reflects the changing mix of projects, strong execution and certain positive job closeouts. Last year, during the third quarter ended October 31, 2023, gross profit was negatively impacted by a loss on the Kilroot project, which reduced gross profit by approximately $10.7 million. Consolidated gross profit for the quarter ended October 31, 2023 was $19.2 million, or 11.7% of consolidated revenues.

Selling, general and administrative expenses increased by $2.6 million to $14.0 million for the quarter ended October 31, 2024, from $11.4 million in the comparable prior year quarter. However, as a percentage of revenues, these expenses declined to 5.4% in the third quarter of fiscal 2025 as compared to 6.9% in the third quarter of fiscal 2024.

Other income, net, for the three months ended October 31, 2024 was $6.6 million, which reflected income earned during the period on invested funds in the total amount of approximately $4.8 million. During the quarter ended October 31, 2024, the Company recorded income tax expense of $9.0 million, primarily due to consolidated pre-tax book income of $37.0 million. For the comparable period last year, the effective tax rate was higher primarily due to the unrecognized tax loss benefit related to the Kilroot project.

For the quarter ended October 31, 2024, Argan achieved net income of $28.0 million, or $2.00 per diluted share, compared to $5.5 million, or $0.40 per diluted share, for last year’s third quarter. EBITDA for the quarter ended October 31, 2024 increased to $37.5 million compared to $12.2 million in the same quarter of last year.

Argan maintained a substantial total balance of cash, cash equivalents and investments during the quarter. The total balances were $506.3 million and $412.4 million as of October 31 and January 31, 2024, respectively. Balance sheet net liquidity was $281.0 million at October 31, 2024 and $244.9 million at January 31, 2024; furthermore, the Company had no debt.

First Nine Months Results

Consolidated revenues for the nine months ended October 31, 2024 were $641.7 million, an increase of $232.9 million, or 57.0%, from consolidated revenues of $408.8 million reported for the comparable prior year period.

For the nine months ended October 31, 2024, consolidated gross profit increased to approximately $93.4 million, which represented a consolidated gross margin of 14.6%, compared to consolidated gross profit of $57.2 million, or consolidated gross margin of 14.0%, reported for the nine months ended October 31, 2023. The gross profit percentage increased between periods primarily due to the changing mix of projects and contract types. Additionally, during the nine-month periods ended October 31, 2024 and 2023, gross profit was negatively impacted by a loss recorded on the Kilroot Project, which reduced gross profit by approximately $2.6 million and $11.5 million, respectively.

Selling, general and administrative expenses increased by $5.4 million to $37.8 million for the nine months ended October 31, 2024, from $32.5 million in the comparable prior year period. However, as a percentage of revenues, these expenses declined to 5.9% from 7.9% between the periods.

Other income, net, for the nine months ended October 31, 2024 was $17.0 million, which reflected income earned during the period on invested funds of approximately $14.0 million, as the weighted average balances of investments are meaningfully higher this year.

The Company recorded income tax expense of $18.5 million for the nine months ended October 31, 2024 primarily due to corresponding consolidated pre-tax book income of $72.6 million. For the comparable period last year, the effective tax rate was higher primarily due to the unrecognized tax loss benefit related to the Kilroot project.

For the nine months ended October 31, 2024, Argan achieved net income of $54.1 million, or $3.91 per diluted share, versus net income of $20.3 million, or $1.50 per diluted share, for last year’s comparable period. EBITDA for the nine months ended October 31, 2024 was $74.2 million compared to $33.8 million in the same period of last year.

Conference Call and Webcast

Argan will host a conference call and webcast for investors today, December 5, 2024, at 5:00 p.m. ET.

Domestic stockholders and interested parties may participate in the conference call by dialing (888) 506-0062 and international participants should dial (973) 528-0011; all callers shall use access code: 925404.

The call and the accompanying slide deck will also be webcast at:

https://www.webcaster4.com/webcast/page/2961/51625

The conference call and slide deck may also be accessed via the Investor Center section of the Company’s website at https://arganinc.com/investor-center. Please allow extra time prior to the call to visit the site.

A replay of the teleconference will be available until December 19, 2024, and can be accessed by dialing 877-481-4010 (domestic) or 919-882-2331 (international). The replay access code is 51625. A replay of the webcast can be accessed until December 5, 2025.

About Argan

Argan’s primary business is providing a full range of construction and related services to the power industry. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated industrial construction, fabrication and plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.

Non-GAAP Financial Measures

The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). Within this press release, the Company makes reference to earnings before interest, taxes, depreciation and amortization (“EBITDA”), a non-GAAP financial measure. The Company believes that the non-GAAP financial measure described in this press release is important to management and investors because the measure supplements the understanding of Argan’s ongoing operating results, excluding the effects of capital structure, depreciation, amortization, and income tax rates. The non-GAAP financial measure referred to above should be considered in conjunction with, and not as a substitute for, the GAAP financial information presented in this press release. Financial tables at the end of this press release provide a reconciliation of the non-GAAP financial measures to the comparable GAAP measures.

Safe Harbor Statement

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company’s future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, the Company’s ability to successfully complete the projects that it obtains, and the Company’s effectiveness in mitigating future losses related to the Kilroot loss contract. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company’s SEC filings.

ARGAN, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands, except per share data)

(Unaudited)

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

October 31,

 

October 31,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

REVENUES

 

$

257,008

 

 

$

163,755

 

 

$

641,705

 

 

$

408,779

 

Cost of revenues

 

 

212,681

 

 

 

144,520

 

 

 

548,329

 

 

 

351,578

 

GROSS PROFIT

 

 

44,327

 

 

 

19,235

 

 

 

93,376

 

 

 

57,201

 

Selling, general and administrative expenses

 

 

13,995

 

 

 

11,375

 

 

 

37,848

 

 

 

32,467

 

INCOME FROM OPERATIONS

 

 

30,332

 

 

 

7,860

 

 

 

55,528

 

 

 

24,734

 

Other income, net

 

 

6,646

 

 

 

3,733

 

 

 

17,044

 

 

 

7,222

 

INCOME BEFORE INCOME TAXES

 

 

36,978

 

 

 

11,593

 

 

 

72,572

 

 

 

31,956

 

Income tax expense

 

 

8,968

 

 

 

6,129

 

 

 

18,482

 

 

 

11,616

 

NET INCOME

 

 

28,010

 

 

 

5,464

 

 

 

54,090

 

 

 

20,340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER COMPREHENSIVE INCOME, NET OF TAXES

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

(957

)

 

 

(882

)

 

 

(1,933

)

 

 

(627

)

Net unrealized losses on available-for-sale securities

 

 

(659

)

 

 

(427

)

 

 

(169

)

 

 

(1,147

)

COMPREHENSIVE INCOME

 

$

26,394

 

 

$

4,155

 

 

$

51,988

 

 

$

18,566

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

2.07

 

 

$

0.41

 

 

$

4.04

 

 

$

1.52

 

Diluted

 

$

2.00

 

 

$

0.40

 

 

$

3.91

 

 

$

1.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE SHARES OUTSTANDING

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

13,530

 

 

 

13,328

 

 

 

13,398

 

 

 

13,381

 

Diluted

 

 

14,034

 

 

 

13,559

 

 

 

13,830

 

 

 

13,549

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH DIVIDENDS PER SHARE

 

$

0.375

 

 

$

0.300

 

 

$

0.975

 

 

$

0.800

 

ARGAN, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except per share data)

 

 

 

October 31,

 

January 31,

 

 

2024

 

 

2024

 

 

 

(Unaudited)

 

 

 

ASSETS

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

Cash and cash equivalents

 

$

175,349

 

 

$

197,032

 

Investments

 

 

330,933

 

 

 

215,373

 

Accounts receivable, net

 

 

131,660

 

 

 

47,326

 

Contract assets

 

 

44,620

 

 

 

48,189

 

Other current assets

 

 

34,579

 

 

 

39,259

 

TOTAL CURRENT ASSETS

 

 

717,141

 

 

 

547,179

 

Property, plant and equipment, net

 

 

14,147

 

 

 

11,021

 

Goodwill

 

 

28,033

 

 

 

28,033

 

Intangible assets, net

 

 

1,924

 

 

 

2,217

 

Deferred taxes, net

 

 

1,254

 

 

 

2,259

 

Right-of-use and other assets

 

 

6,365

 

 

 

7,520

 

TOTAL ASSETS

 

$

768,864

 

 

$

598,229

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

Accounts payable

 

$

87,085

 

 

$

39,485

 

Accrued expenses

 

 

78,393

 

 

 

81,721

 

Contract liabilities

 

 

270,686

 

 

 

181,054

 

TOTAL CURRENT LIABILITIES

 

 

436,164

 

 

 

302,260

 

Noncurrent liabilities

 

 

3,996

 

 

 

5,030

 

TOTAL LIABILITIES

 

 

440,160

 

 

 

307,290

 

 

 

 

 

 

 

 

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; 13,569,104 and 13,242,520 shares outstanding at October 31, 2024 and January 31, 2024, respectively

 

 

2,374

 

 

 

2,374

 

Additional paid-in capital

 

 

168,441

 

 

 

164,183

 

Retained earnings

 

 

266,334

 

 

 

225,507

 

Treasury stock, at cost – 2,259,185 and 2,585,769 shares at October 31, 2024 and January 31, 2024, respectively

 

 

(102,746

)

 

 

(97,528

)

Accumulated other comprehensive loss

 

 

(5,699

)

 

 

(3,597

)

TOTAL STOCKHOLDERS’ EQUITY

 

 

328,704

 

 

 

290,939

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

 

$

768,864

 

 

$

598,229

 

ARGAN, INC. AND SUBSIDIARIES

RECONCILIATION TO EBITDA

(In thousands) (Unaudited)

 

 

 

Three Months Ended

 

 

October 31,

 

 

2024

 

2023

Net income, as reported

 

$

28,010

 

$

5,464

Income tax expense

 

 

8,968

 

 

6,129

Depreciation

 

 

433

 

 

489

Amortization of intangible assets

 

 

98

 

 

98

EBITDA

 

$

37,509

 

$

12,180

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

October 31,

 

 

2024

 

2023

Net income, as reported

 

$

54,090

 

$

20,340

Income tax expense

 

 

18,482

 

 

11,616

Depreciation

 

 

1,376

 

 

1,524

Amortization of intangible assets

 

 

293

 

 

294

EBITDA

 

$

74,241

 

$

33,774

 

Company:

David Watson

301.315.0027



Investor Relations:

John Nesbett/Jennifer Belodeau

IMS Investor Relations

203.972.9200

argan@imsinvestorrelations.com

Source: Argan, Inc.

FAQ

What was Argan's (AGX) revenue in Q3 FY2025?

Argan reported revenues of $257.0 million in Q3 FY2025, representing a 57% increase from $163.8 million in the same quarter last year.

How much was Argan's (AGX) earnings per share in Q3 FY2025?

Argan achieved diluted earnings per share of $2.00 in Q3 FY2025, compared to $0.40 in Q3 FY2024.

What is Argan's (AGX) current project backlog as of October 31, 2024?

Argan's project backlog stood at $800 million as of October 31, 2024, including $478 million of renewable projects.

How much cash and investments does Argan (AGX) have as of October 31, 2024?

Argan reported $506.3 million in cash, cash equivalents and investments as of October 31, 2024.

Argan, Inc

NYSE:AGX

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Engineering & Construction
Construction - Special Trade Contractors
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