Argan, Inc. (AGX) Q2 FY2027 earnings

Reported results

• Q2 revenues $384.0 million, up $146.2 million or 61.5% YoY; gross profit $74.2 million or 19.3% of revenues vs. $44.3 million or 18.6% prior year
• Q2 net income (GAAP) $53.3 million or $3.76 diluted EPS vs. $35.3 million or $2.50 prior year; adjusted EBITDA (non-GAAP) $70.0 million vs. $38.5 million prior year
• Six-month revenues $674.9 million, up $243.5 million or 56.5% YoY; net income (GAAP) $99.4 million or $7.01 diluted EPS vs. $57.8 million or $4.09 prior year; adjusted EBITDA (non-GAAP) $126.5 million vs. $70.0 million prior year
• Cash, cash equivalents and investments $1,028.4 million at July 31, 2026 vs. $895.0 million at January 31, 2026; no debt; net liquidity $440.4 million vs. $421.0 million
• Project backlog $2,518 million at July 31, 2026 vs. $2,929 million at January 31, 2026; cash dividends per share $0.50 for Q2 and $1.00 for six months vs. $0.375 and $0.75 prior year
• Power segment revenue $301 million in Q2, up 53% YoY at 22% gross margin; acquisition of ValCor Communications completed in Teledata segment; new fabrication facility construction progressing toward expected completion next quarter

Notes

Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures; Adjusted EBITDA excludes stock-based compensation expense. Net liquidity defined as total current assets less total current liabilities. No forward guidance provided.

Price and volatility reaction

The stock moved +0.3% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -24.1 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-02 (8-K, Item 2.02). Read the original filing on sec.gov.