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, Inc. (NYSE: AGX) announced its Q2 2022 results, reporting revenues of $118.1 million, down 11.2% year-over-year, and net income of $4.2 million ($0.30 per diluted share). The company increased its share repurchase program to $100 million and declared a quarterly dividend of $0.25 per share. Despite a decline in revenues, gross profit margins remained stable at 20.6%. The company also noted a strong project backlog of approximately $372 million and plans to continue executing effectively on ongoing projects.
Argan, Inc. (NYSE: AGX) announced the retirement of Rainer H. Bosselmann as Founder, Chairman, and CEO, effective August 16, 2022. David H. Watson, previously CFO, has been appointed as the new CEO. Bosselmann, who led Argan since its founding in 2003, significantly enhanced the company, growing revenues from $30 million to over $500 million and returning $175 million in dividends to shareholders. Richard H. Deily will now serve as CFO, and William F. Leimkuhler has been appointed Chairman of the Board. Argan offers comprehensive services to the power industry.
Argan, Inc. (NYSE: AGX) declared a quarterly cash dividend of $0.25 per share, scheduled for payment on July 29, 2022, to stockholders of record as of July 21, 2022. The company provides a comprehensive suite of services to the power industry, with a focus on engineering, procurement, and construction for natural gas and renewable energy projects. Argan operates through subsidiaries like Gemma Power Systems and Atlantic Projects Company, enhancing its commitment to the energy sector.
Argan, Inc. (NYSE: AGX) reported financial results for Q1 ended April 30, 2022, revealing revenues of $100.3 million, a decline of $26.1 million from the same period in 2021. Gross profit decreased to $19.7 million, with a gross margin of 19.7%. Net income fell to $7.5 million, or $0.50 per diluted share, down from $10.8 million in 2021. Cash and equivalents totaled $367 million, with net liquidity at $261 million. Notably, the company repurchased 710,879 shares during the quarter, reflecting ongoing capital management efforts.
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
The Board of Directors of Argan, Inc. (NYSE: AGX) has declared a quarterly cash dividend of
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.