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 construction-focused company whose primary business is providing a full range of construction and related services to the power industry. Its news flow centers on engineering, procurement and construction (EPC) contracts for natural gas-fired power plants and renewable energy facilities, as well as financial results, project milestones and capital allocation decisions.
Through subsidiaries such as Gemma Power Systems and Atlantic Projects Company, Argan regularly announces new EPC awards, full notices to proceed on large power projects and updates on major facilities in the United States, Ireland and the United Kingdom. Recent press releases have highlighted combined-cycle natural gas projects in Texas, an LNG-related project in Louisiana, and the Platin Power Station contract in Ireland, along with commentary on project execution and backlog.
Investors following AGX news can also track quarterly earnings releases, which include updates on consolidated revenues, gross profit, net income, EBITDA and project backlog, as well as management’s discussion of demand for the company’s capabilities. In addition, Argan issues announcements about regular quarterly cash dividends, dividend increases and related Form 8-K filings.
This news page aggregates Argan, Inc.’s earnings reports, dividend declarations, project contract announcements and other company communications in one place, helping readers review how new EPC awards, construction progress and capital allocation choices are reflected in the company’s public disclosures over time.
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.
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.
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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