Argan Inc - AGX STOCK NEWS

Argan, Inc. (NYSE: AGX) has secured contracts through its subsidiary, Atlantic Projects Company (APC), with the Electricity Supply Board (ESB) to build three 65 MW aero-derivative gas turbine flexible generation power plants in Dublin, Ireland. The projects, which have passed the SEM 2024/2025 T-3 Capacity auction, aim to support electricity demand and renewable generation. The contracts will immediately enhance Argan's project backlog, contributing to Ireland's energy stability and aligning with ESB's Net Zero by 2040 strategy.

Argan, Inc. (NYSE: AGX) announced strong financial results for the fiscal year and fourth quarter ended January 31, 2022. Fiscal 2022 revenue rose by 30% to $509.4 million, driven by growth in the power industry services segment. Net income increased to $38.2 million, or $2.40 per share, reflecting improved operating performance. The company also approved a share repurchase program increase from $50 million to $75 million. Despite positive results, gross profit margin declined slightly in Q4, reflecting challenges in the industrial fabrication business.

Argan, Inc. (NYSE: AGX) announced a quarterly cash dividend of $0.25 per share on April 8, 2022. The payment date is set for April 29, 2022, with stockholders of record as of April 21, 2022. Argan operates within the power industry, specializing in engineering, procurement, and construction services for both natural gas and renewable energy sectors through its subsidiaries, including Gemma Power Systems and Atlantic Projects Company.

Argan, Inc. (NYSE: AGX) has increased its share repurchase program from $25 million to $50 million. Approximately $18 million of shares have already been repurchased. CEO Rainer Bosselmann emphasized the company's commitment to a disciplined capital allocation strategy, blending shareholder returns with business investment. Over the last two years, Argan has disbursed around $63 million in dividends. The share buyback program is authorized until January 2024, aiming to leverage strong free cash flow.

The Board of Directors of Argan, Inc. (NYSE: AGX) has declared a quarterly cash dividend of $0.25 per share, payable on January 31, 2022. Shareholders of record as of January 21, 2022 will receive this dividend. Argan specializes in providing a comprehensive range of services to the power industry, focusing on engineering, construction, and maintenance of natural gas and renewable energy facilities.

Argan, Inc. (NYSE: AGX) reported its financial results for the third quarter ending October 31, 2021. The Company generated $124.5 million in revenues, a 2.3% decline from the prior year. Gross profit rose to $26.1 million, with an improved gross margin of 21.0%. Net income increased to $12.4 million, or $0.78 per diluted share, marking a 30.9% year-over-year growth. Net liquidity stood at $301 million, with no debt. Argan highlighted successful contract awards, including solar and natural gas projects, despite challenges from supply chain issues.

Argan, Inc. (NYSE: AGX) has appointed Charles Collins as the new CEO of Gemma Power Systems, following his successful tenure as Co-President. With 21 years at GPS and leadership during challenging times, Collins aims to enhance the company's focus on engineering, procurement, and construction services within the power sector, particularly in renewable energy. His promotion is supported by the Board, emphasizing confidence in his leadership and vision for GPS's future. Colin Trebilcock remains President, maintaining operational continuity.

Argan, Inc. (NYSE: AGX) announced a contract with EPUKI to construct a 2 x 330 MW natural gas-fired power plant in Carrickfergus, Belfast, Northern Ireland. The contract was awarded to its subsidiary, Atlantic Projects Company (APC), marking APC’s largest project under Argan’s ownership. Siemens Energy will supply the gas turbines, and project completion is expected in late 2023. This development signifies a notable addition to Argan's project backlog, reinforcing its position in the power industry.

The Board of Directors of Argan, Inc. (NYSE: AGX) declared a quarterly cash dividend of $0.25 per share. This dividend is payable on October 29, 2021 to stockholders of record as of October 21, 2021. Argan specializes in providing services to the power industry, including engineering, procurement, and construction of natural gas-fired power plants and renewable energy facilities.