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ARLINGTON, Va. - Argan , Inc. (NYSE:AGX) reported fourth quarter earnings that significantly exceeded analyst expectations, sending shares soaring 11.8% in after-hours trading Thursday.
The energy infrastructure construction company posted adjusted earnings per share of $2.22 for the quarter ended January 31, 2025, handily beating the analyst consensus estimate of $1.15. Revenue came in at $232.47 million, also topping expectations of $197.5 million.
Argan’s fourth quarter revenue grew 41% YoY to $232.5 million, driven by increased construction activities across several major projects. Gross profit nearly doubled to $47.6 million, with gross margin expanding to 20.5% from 14.4% a year ago.
"Our fourth quarter performance continued the momentum we saw throughout fiscal 2025, providing a strong close to a year characterized by exceptional execution across all of our business segments," said David Watson, President and CEO of Argan.
The company’s project backlog grew to $1.4 billion at quarter-end, up from $757 million a year earlier. This included new contracts for a 700 MW natural gas project in the U.S. and a 300 MW biofuel plant in Ireland.
For the full fiscal year 2025, Argan reported net income of $85.5 million, or $6.15 per diluted share, compared to $32.4 million, or $2.39 per share, in fiscal 2024. Annual revenue increased 52.5% to $874.2 million.
Looking ahead, Watson expressed optimism about growth opportunities, citing increased demand for reliable energy sources amid aging power infrastructure and underinvestment in natural gas facilities.
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