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Argan, Inc. - AGX STOCK NEWS

Welcome to our dedicated page for Argan news (Ticker: AGX), a resource for investors and traders seeking the latest updates and insights on Argan stock.

Argan, Inc. (NYSE: AGX) is a prominent United States-based construction firm headquartered in Rockville, Maryland. The company, through its subsidiaries, provides a comprehensive range of engineering, procurement, construction, commissioning, operations management, and consulting services to the power generation and renewable energy markets. Argan operates in three primary segments: Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services.

The Power Industry Services segment, operated through GPS and APC subsidiaries, focuses on the engineering, procurement, and construction of natural gas-fired power plants and renewable energy facilities. This segment serves a diverse customer base, including independent power project owners, public utilities, and power plant equipment suppliers. Notably, this segment has been involved in projects totaling approximately 15 gigawatts of power-generating capacity.

Through The Roberts Company, the Industrial Fabrication and Field Services segment provides industrial construction, fabrication, and plant services. This segment has a growing portfolio, contributing significant revenue to the company by working on diverse industrial projects, particularly in the United States.

The Telecommunications Infrastructure Services segment, under SMC Infrastructure Solutions, offers services essential for the development and maintenance of telecommunications infrastructure, addressing the growing demand for robust and reliable telecom networks.

Argan’s recent achievements include substantial revenue growth, strong EBITDA performance, and a solid financial position with significant cash reserves and no debt. The company has maintained a healthy project backlog, demonstrating its strong market position and ability to secure new contracts. Noteworthy projects include the Shannonbridge Power Project in Ireland and several solar and battery projects in Illinois.

Argan’s commitment to shareholders is highlighted by its ongoing share repurchase program and increasing quarterly dividends, reflecting the company's robust financial health and dedication to returning value to investors. As a trusted partner in the power industry, Argan continues to leverage its expertise to meet the evolving needs of the energy sector, supporting both traditional and renewable energy projects.

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Argan, a company listed on the NYSE under the symbol AGX, announced a regular quarterly cash dividend of $0.30 per common share. This dividend will be payable on July 31, 2024, to shareholders of record as of July 23, 2024. Additionally, the Board of Directors has extended the company's $125 million Share Repurchase Plan to January 31, 2027. This extension aims to provide continued support for the company's stock price and add value for shareholders over the next three years.

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Argan (NYSE: AGX) has reported its financial results for the first quarter of fiscal year 2025, ending April 30, 2024. Revenues rose by 52% to $157.7 million, up from $103.7 million in the same period last year. Despite a gross margin decline from 13.7% to 11.4%, net income significantly increased to $7.9 million, or $0.58 per share, compared to $2.1 million, or $0.16 per share, in the prior year. EBITDA saw a remarkable rise of 225.8% to $11.9 million. The company maintains strong cash and investments of $416.4 million and reported net liquidity of $246.7 million. Argan's project backlog grew to $824 million, including over $300 million in renewable projects. However, the quarter faced a $2.6 million loss related to the Kilroot Power Station project.

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Argan (NYSE: AGX) will release its first quarter fiscal 2025 financial results after market close on June 6, 2024. A webcast and conference call will be hosted by management at 5:00 p.m. ET the same day. Participants can access the live webcast through the provided link or join by phone using the specified dial-in numbers and access code. A replay will be available until June 20, 2024, through the given phone numbers and access code, and the webcast replay will be accessible until June 6, 2025.

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Argan, Inc. (AGX) announces financial results for Q4 and fiscal year 2024, with revenues reaching $573.3 million, a 26% increase. The company declares a regular quarterly dividend of $0.30 per share. Net income for the year was $32.4 million, a slight decrease from the previous year. EBITDA rose by 7% to $51.3 million. Cash dividends per share increased to $1.10.
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Argan, Inc. (AGX) will release its Q4 and fiscal year-end 2024 financial results on April 11, 2024. A webcast and conference call will be held to discuss the results. Access details provided for both webcast and call.
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Argan, Inc. (AGX) declares a regular quarterly cash dividend of $0.30 per common share, payable on January 31, 2024, to stockholders of record at the close of business on January 23, 2024.
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Argan, Inc. (NYSE: AGX) announces Q3 fiscal year 2024 financial results, reporting a 39% revenue growth to $163.755 million. However, international subsidiary APC faces operational and contractual challenges, resulting in a pre-tax loss of $10.7 million. The company maintains a backlog of over $0.7 billion and aims to increase it in the coming quarters.
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Argan, Inc. (AGX) to Release Q3 Fiscal Year 2024 Financial Results on December 6, 2023
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Argan, Inc. increases quarterly cash dividend by 20% to $0.30 per share, payable on October 31, 2023.
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Argan, Inc. announces Q2 2024 financial results with increased revenues and improved profitability. Backlog remains strong. Share repurchase program ongoing.
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FAQ

What services does Argan, Inc. provide?

Argan, Inc., through its subsidiaries, offers engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets.

Which segments does Argan, Inc. operate in?

Argan operates through three main segments: Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services.

What are some key projects Argan, Inc. has been involved in?

Argan has worked on several significant projects including the Shannonbridge Power Project in Ireland, the Trumbull Energy Center in Ohio, and multiple solar and battery projects in Illinois.

How is Argan, Inc.'s financial performance?

Argan has shown substantial revenue growth, solid EBITDA performance, and maintains a strong financial position with significant cash reserves and no debt.

What is Argan, Inc.'s approach to shareholder value?

Argan demonstrates its commitment to shareholders through ongoing share repurchase programs and increasing quarterly dividends, reflecting strong financial health.

Does Argan, Inc. serve international markets?

Yes, Argan operates internationally, providing services in the United States, Ireland, and the United Kingdom through its subsidiaries.

What types of power projects does Argan, Inc. handle?

Argan handles a diverse range of power projects, including natural gas-fired power plants and renewable energy facilities like solar fields and wind farms.

What are the recent financial highlights for Argan, Inc.?

Recent financial highlights include significant increases in quarterly and annual revenues, improvements in net income, and a robust project backlog.

What is Argan, Inc.'s project backlog?

As of the latest updates, Argan has maintained a substantial project backlog, including over $300 million in renewable projects, reflecting its strong market position.

How does Argan, Inc. contribute to the renewable energy sector?

Argan contributes to the renewable energy sector by providing engineering, procurement, and construction services for various renewable energy facilities, demonstrating its expertise and leadership in the industry.

Argan, Inc.

NYSE:AGX

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1.01B
13.35M
7.54%
85.13%
1.7%
Water and Sewer Line and Related Structures Construction
Construction
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United States of America
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