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Oct 31, 2025
Argan Q3 2025 Earnings Report
Argan reported solid third quarter results for fiscal 2026 with higher profitability and a record project backlog.
Key Takeaways
Argan delivered strong earnings in Q3 FY26, achieving a higher net income and EPS compared to the prior year. The company reported robust margins and a record backlog, supported by new gas-fired power projects in Texas.
Revenue for the quarter was $251.2 million, slightly down from the prior year.
Net income grew to $30.7 million, reflecting improved profitability.
EBITDA increased to $40.3 million, representing 16.0% of revenues.
Backlog reached a record $3.0 billion due to new power plant contracts.
Forward Guidance
Argan is optimistic about continued revenue growth and profitability as demand for natural gas power projects rises.
Positive Outlook
- Record project backlog of $3.0 billion.
- Addition of two large gas-fired projects in Texas.
- Strong cash position with over $726 million in cash and investments.
- No debt on the balance sheet.
- Healthy margins across core segments.
Challenges Ahead
- Quarterly revenue declined slightly due to project timing.
- New projects are still in early construction phases.
- SG&A expenses increased year-over-year.
- No new international projects reported.
- No adjusted EPS guidance provided.
Historical Earnings Impact
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