Argan, Inc. reported its financial results for the second quarter of fiscal year 2026, showing growth in revenues and profits.
The company achieved consolidated revenues of $237.7 million and a gross margin of 18.6%.
With a record backlog of $2.0 billion, Argan remains well positioned in the energy sector.
Financial Performance
- Revenues increased to $237.7 million, with a gross margin of 18.6%. - Net income grew to $35.3 million, and EBITDA increased to $36.2 million.
Project Milestones
- Completed LNG project in Louisiana. - Achieved first fires at Trumbull units. - Progress on renewable projects and contracts for Platin Power Station.
Industry Position
- Strong demand across all business segments. - Well positioned to benefit from current demand for reliable energy resources.
- Argan's revenue increased by 4.7% to $237.7 million, driven by project activity and backlog growth.
- Consolidated gross profit rose to $44.3 million, with an improved margin of 18.6% compared to the previous year.
- The company's capabilities and track record position it favorably in the industry to meet the growing demand for energy resources.
Argan, Inc.'s strong financial performance, milestone achievements, and robust project backlog highlight its growth trajectory and industry position.