10-Q · June 4, 2026
Argan, Inc. reported strong Q1 FY27 results with record revenue of $290.9 million, exceeding estimates of $252.5 million, and an EPS of $3.24 against a forecast of $2.27. The company showed substantial growth in both…
Earnings analysis · 10-Q
AGX earnings analysis
Filed September 2, 2026 · Our reading of the company's report
The latest report
Argan delivered a substantial quarterly beat, with revenue of $383.976 million and diluted EPS of $3.76 versus consensus estimates of $297.78 million and $2.67. Growth was led by the Power segment, which generated $301…
Read full summary
Argan delivered a substantial quarterly beat, with revenue of $383.976 million and diluted EPS of $3.76 versus consensus estimates of $297.78 million and $2.67. Growth was led by the Power segment, which generated $301 million of revenue, up 53% year over year, while consolidated gross margin was 19.3%. However, backlog declined by $411 million to $2.518 billion, and the filing provided no quantitative forward guidance. The filing also disclosed a $200 million repurchase authorization and 19,076 quarterly share repurchases, but the provided text does not include complete balance-sheet or cash-flow data.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.76
- Gross margin
- 19.3%
- Segment
- Power: $301 million of revenue, up 53% year over year
- Segment
- Other segment revenue: not disclosed in the provided filing text
What stood out
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Revenue materially beat estimates
Revenue was $383.976 million, exceeding the $297.78 million consensus estimate by $86.196 million, or 28.9%.
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EPS materially beat estimates
Diluted EPS was $3.76 versus the $2.67 consensus estimate, a $1.09, or 40.8%, beat.
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Power segment drove growth
The Power segment generated $301 million of revenue, up 53% year over year, making it the principal disclosed growth driver.
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Gross margin remained positive
Consolidated gross margin was 19.3%, supporting the period's strong earnings performance.
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Expanded share repurchase capacity
The board increased the share repurchase authorization by $50 million on April 8, 2026, bringing total authorization to $200 million; 19,076 shares were repurchased during the quarter.
What to watch
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Backlog declined
Project backlog declined by $411 million to $2.518 billion, reducing the contracted revenue cushion despite the quarter's $383.976 million revenue.
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Project execution and cost risk
The company states that project performance and project costs can affect results; the filing provides no quantitative reserve or cost-overrun amount, limiting visibility into execution risk.
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Capital allocation exposure
Repurchases reduced remaining authorization to $77.969 million at July 31, 2026, after 19,076 shares were purchased during the quarter, creating capital-allocation exposure if business conditions weaken.
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ValCor acquisition integration risk
The company issued 877 treasury shares, valued at approximately $0.5 million, as partial consideration for the ValCor acquisition, introducing integration and acquisition-execution risk.
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Market-risk exposure unchanged
The filing reports no material changes in market-risk exposure during the six months ended July 31, 2026, but does not eliminate exposure to market conditions affecting project economics.
Management's outlook
The filing and accompanying earnings disclosure provided no quantitative revenue or EPS guidance; outlook was not provided.
Earlier filings 4
10-K · March 26, 2026
Argan describes a focused EPC strategy anchored in its Power segment (engineering, procurement, construction, commissioning and maintenance) with Industrial and Teledata as complementary businesses. Fiscal 2026 shows a…
10-Q · December 4, 2025
Argan reported Q3 revenues of $251.153 million, down 2.3% year-over-year, while diluted EPS rose to $2.17, up 8.5% from $2.00 and above the $1.99 estimate. Gross margin expanded to 18.7% and operating income increased…
10-Q · September 4, 2025
Argan reported quarterly revenue of $237.7M (up 4.7% YoY) and diluted EPS of $2.50 (up 90.4% YoY). Gross profit improved to $44.3M, lifting gross margin to 18.6% from 13.7% a year earlier; income from operations was…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.