Argan, Inc. reported its financial results for the third quarter of fiscal year 2026.
The Company achieved a record backlog of $3.0 billion, showcasing strong project demand.
President and CEO, David Watson, emphasized the importance of new projects in driving revenue growth and profitability.
Record Backlog
Argan, Inc. disclosed a record backlog of $3.0 billion, reflecting the addition of two new gas-fired projects in the quarter.
Revenue Growth Outlook
With contracts for approximately 6 GW of power generating assets, the company anticipates revenue growth and enhanced profitability in the coming years.
Future Project Pipeline
Argan expects to add projects periodically to its backlog as current construction projects progress, maintaining a focus on capitalizing on demand.
- Despite a slight decrease in consolidated revenues compared to the prior year, Argan's gross profit margin improved, driven by better margins in key service segments.
- Net income and EBITDA also saw growth, highlighting the company's ability to maintain profitability and operational efficiency.
Argan, Inc.'s solid financial performance, highlighted by the record backlog and strategic outlook, positions the company for sustained growth and success in the evolving energy infrastructure sector.