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Argan, Inc - AGX STOCK NEWS

Welcome to our dedicated page for Argan news (Ticker: AGX), a resource for investors and traders seeking the latest updates and insights on Argan stock.

Argan, Inc. (NYSE: AGX) is a prominent United States-based construction firm headquartered in Rockville, Maryland. The company, through its subsidiaries, provides a comprehensive range of engineering, procurement, construction, commissioning, operations management, and consulting services to the power generation and renewable energy markets. Argan operates in three primary segments: Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services.

The Power Industry Services segment, operated through GPS and APC subsidiaries, focuses on the engineering, procurement, and construction of natural gas-fired power plants and renewable energy facilities. This segment serves a diverse customer base, including independent power project owners, public utilities, and power plant equipment suppliers. Notably, this segment has been involved in projects totaling approximately 15 gigawatts of power-generating capacity.

Through The Roberts Company, the Industrial Fabrication and Field Services segment provides industrial construction, fabrication, and plant services. This segment has a growing portfolio, contributing significant revenue to the company by working on diverse industrial projects, particularly in the United States.

The Telecommunications Infrastructure Services segment, under SMC Infrastructure Solutions, offers services essential for the development and maintenance of telecommunications infrastructure, addressing the growing demand for robust and reliable telecom networks.

Argan’s recent achievements include substantial revenue growth, strong EBITDA performance, and a solid financial position with significant cash reserves and no debt. The company has maintained a healthy project backlog, demonstrating its strong market position and ability to secure new contracts. Noteworthy projects include the Shannonbridge Power Project in Ireland and several solar and battery projects in Illinois.

Argan’s commitment to shareholders is highlighted by its ongoing share repurchase program and increasing quarterly dividends, reflecting the company's robust financial health and dedication to returning value to investors. As a trusted partner in the power industry, Argan continues to leverage its expertise to meet the evolving needs of the energy sector, supporting both traditional and renewable energy projects.

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Argan, Inc. (NYSE: AGX) announced the retirement of Rainer H. Bosselmann as Founder, Chairman, and CEO, effective August 16, 2022. David H. Watson, previously CFO, has been appointed as the new CEO. Bosselmann, who led Argan since its founding in 2003, significantly enhanced the company, growing revenues from $30 million to over $500 million and returning $175 million in dividends to shareholders. Richard H. Deily will now serve as CFO, and William F. Leimkuhler has been appointed Chairman of the Board. Argan offers comprehensive services to the power industry.

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Argan, Inc. (NYSE: AGX) declared a quarterly cash dividend of $0.25 per share, scheduled for payment on July 29, 2022, to stockholders of record as of July 21, 2022. The company provides a comprehensive suite of services to the power industry, with a focus on engineering, procurement, and construction for natural gas and renewable energy projects. Argan operates through subsidiaries like Gemma Power Systems and Atlantic Projects Company, enhancing its commitment to the energy sector.

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Argan, Inc. (NYSE: AGX) reported financial results for Q1 ended April 30, 2022, revealing revenues of $100.3 million, a decline of $26.1 million from the same period in 2021. Gross profit decreased to $19.7 million, with a gross margin of 19.7%. Net income fell to $7.5 million, or $0.50 per diluted share, down from $10.8 million in 2021. Cash and equivalents totaled $367 million, with net liquidity at $261 million. Notably, the company repurchased 710,879 shares during the quarter, reflecting ongoing capital management efforts.

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Argan, Inc. (NYSE: AGX) has secured contracts through its subsidiary, Atlantic Projects Company (APC), with the Electricity Supply Board (ESB) to build three 65 MW aero-derivative gas turbine flexible generation power plants in Dublin, Ireland. The projects, which have passed the SEM 2024/2025 T-3 Capacity auction, aim to support electricity demand and renewable generation. The contracts will immediately enhance Argan's project backlog, contributing to Ireland's energy stability and aligning with ESB's Net Zero by 2040 strategy.

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Argan, Inc. (NYSE: AGX) announced strong financial results for the fiscal year and fourth quarter ended January 31, 2022. Fiscal 2022 revenue rose by 30% to $509.4 million, driven by growth in the power industry services segment. Net income increased to $38.2 million, or $2.40 per share, reflecting improved operating performance. The company also approved a share repurchase program increase from $50 million to $75 million. Despite positive results, gross profit margin declined slightly in Q4, reflecting challenges in the industrial fabrication business.

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Argan, Inc. (NYSE: AGX) announced a quarterly cash dividend of $0.25 per share on April 8, 2022. The payment date is set for April 29, 2022, with stockholders of record as of April 21, 2022. Argan operates within the power industry, specializing in engineering, procurement, and construction services for both natural gas and renewable energy sectors through its subsidiaries, including Gemma Power Systems and Atlantic Projects Company.

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Argan, Inc. (NYSE: AGX) has increased its share repurchase program from $25 million to $50 million. Approximately $18 million of shares have already been repurchased. CEO Rainer Bosselmann emphasized the company's commitment to a disciplined capital allocation strategy, blending shareholder returns with business investment. Over the last two years, Argan has disbursed around $63 million in dividends. The share buyback program is authorized until January 2024, aiming to leverage strong free cash flow.

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The Board of Directors of Argan, Inc. (NYSE: AGX) has declared a quarterly cash dividend of $0.25 per share, payable on January 31, 2022. Shareholders of record as of January 21, 2022 will receive this dividend. Argan specializes in providing a comprehensive range of services to the power industry, focusing on engineering, construction, and maintenance of natural gas and renewable energy facilities.

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Argan, Inc. (NYSE: AGX) reported its financial results for the third quarter ending October 31, 2021. The Company generated $124.5 million in revenues, a 2.3% decline from the prior year. Gross profit rose to $26.1 million, with an improved gross margin of 21.0%. Net income increased to $12.4 million, or $0.78 per diluted share, marking a 30.9% year-over-year growth. Net liquidity stood at $301 million, with no debt. Argan highlighted successful contract awards, including solar and natural gas projects, despite challenges from supply chain issues.

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Argan, Inc. (NYSE: AGX) has appointed Charles Collins as the new CEO of Gemma Power Systems, following his successful tenure as Co-President. With 21 years at GPS and leadership during challenging times, Collins aims to enhance the company's focus on engineering, procurement, and construction services within the power sector, particularly in renewable energy. His promotion is supported by the Board, emphasizing confidence in his leadership and vision for GPS's future. Colin Trebilcock remains President, maintaining operational continuity.

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FAQ

What is the current stock price of Argan (AGX)?

The current stock price of Argan (AGX) is $140.28 as of December 23, 2024.

What is the market cap of Argan (AGX)?

The market cap of Argan (AGX) is approximately 1.9B.

What services does Argan, Inc. provide?

Argan, Inc., through its subsidiaries, offers engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets.

Which segments does Argan, Inc. operate in?

Argan operates through three main segments: Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services.

What are some key projects Argan, Inc. has been involved in?

Argan has worked on several significant projects including the Shannonbridge Power Project in Ireland, the Trumbull Energy Center in Ohio, and multiple solar and battery projects in Illinois.

How is Argan, Inc.'s financial performance?

Argan has shown substantial revenue growth, solid EBITDA performance, and maintains a strong financial position with significant cash reserves and no debt.

What is Argan, Inc.'s approach to shareholder value?

Argan demonstrates its commitment to shareholders through ongoing share repurchase programs and increasing quarterly dividends, reflecting strong financial health.

Does Argan, Inc. serve international markets?

Yes, Argan operates internationally, providing services in the United States, Ireland, and the United Kingdom through its subsidiaries.

What types of power projects does Argan, Inc. handle?

Argan handles a diverse range of power projects, including natural gas-fired power plants and renewable energy facilities like solar fields and wind farms.

What are the recent financial highlights for Argan, Inc.?

Recent financial highlights include significant increases in quarterly and annual revenues, improvements in net income, and a robust project backlog.

What is Argan, Inc.'s project backlog?

As of the latest updates, Argan has maintained a substantial project backlog, including over $300 million in renewable projects, reflecting its strong market position.

How does Argan, Inc. contribute to the renewable energy sector?

Argan contributes to the renewable energy sector by providing engineering, procurement, and construction services for various renewable energy facilities, demonstrating its expertise and leadership in the industry.

Argan, Inc

NYSE:AGX

AGX Rankings

AGX Stock Data

1.88B
12.64M
7.14%
91.09%
3.34%
Engineering & Construction
Construction - Special Trade Contractors
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United States of America
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