Every 10-Q that Argan, Inc (AGX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AGX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AGX filings page.
Argan, Inc. (AGX) reported sharply stronger results for the quarter and six months ended July 31, 2026, driven mainly by large gas-fired power projects in its Power segment. Quarterly revenues rose to $384.0 million and net income to $53.3 million, with diluted EPS of $3.76. Six‑month revenues reached $674.9 million and net income $99.4 million, reflecting higher construction activity on several large U.S. and Irish power plants and strong Industrial segment growth.
Gross margin improved as revenue mix shifted toward higher‑margin projects, while selling, general and administrative expenses grew more slowly than sales, reducing their share of revenue. Argan ended the quarter with $364.5 million of cash and cash equivalents, $664.0 million of investments, no borrowings under its $35.0 million revolving credit facility, and stockholders’ equity of $506.8 million, providing substantial liquidity for bonding and project guarantees. Consolidated project backlog was $2.5 billion, primarily in the Power segment, and the company expects to recognize about 48% of remaining performance obligations as revenue over the next 12 months. During the period Argan paid $0.50 per share in quarterly dividends, repurchased common stock, and completed the $9.4 million acquisition of ValCor to expand its Teledata segment in New England.
Argan, Inc. (AGX) delivered a very strong quarter. For the three months ended April 30, 2026, revenues were $290.9 million, up 50.2% from $193.7 million, driven by major power projects in Texas, the Midwest and Ireland plus nearly doubled Industrial activity.
Profitability improved sharply. Net income rose to $46.1 million from $22.6 million, with diluted EPS increasing to $3.24 from $1.60. Gross margin expanded to about 21% as project mix and execution improved, particularly on Midwest solar and battery work, while SG&A grew more slowly than revenue.
The balance sheet remains very strong. Cash and cash equivalents were $355.8 million, with total investments of $617.7 million and no borrowings under the $35 million credit facility. Remaining unsatisfied performance obligations were about $2.8 billion, largely in the Power segment, supporting multi‑year revenue visibility.
The board maintained a shareholder-return focus, paying a $0.50 per share cash dividend and expanding the share repurchase authorization to $200 million, under which 6,450 shares were bought for approximately $3.0 million in the quarter.
Argan, Inc. (AGX) reported solid third‑quarter results for the period ended October 31, 2025. Quarterly revenues were $251.2 million, slightly below $257.0 million a year ago, but profitability improved. Net income rose to $30.7 million from $28.0 million, and diluted earnings per share increased to $2.17 from $2.00. Gross profit expanded to $46.9 million from $44.3 million as project mix and execution boosted margins.
For the first nine months of the year, revenues grew to $682.6 million from $641.7 million, while net income climbed to $88.6 million from $54.1 million, lifting diluted EPS to $6.27 from $3.91. Cash and cash equivalents more than doubled to $306.3 million, and total investments reached $420.5 million, supporting a strong balance sheet with no borrowings on the $35.0 million credit facility. The company increased its quarterly dividend by 33% to $0.50 per share and expanded project backlog to $3.0 billion, largely in natural gas and renewable power projects.
Argan, Inc. reports three reportable business segments and had 15,828,289 shares issued with 13,811,575 shares outstanding at July 31, 2025. The company is evaluating adoption of ASU 2023-09 on income tax disclosures. Approximately 26% of the remaining unrecognized performance obligations at July 31, 2025 are expected to be recognized in fiscal 2026, with the remainder in fiscal 2027–2029. The company has a revolving credit facility of $35.0 million priced at SOFR+1.85% with a $30.0 million accordion and a $25.0 million companion facility for letters of credit. Bonds covering warranty and retention obligations totaled $61.2 million. A $9.7 million letter of credit draw is disputed and included in accounts receivable. The IRS has disallowed R&D credits for fiscal 2021–2022; the company is contesting that finding and filed an insurance claim. Argan repurchased 56,117 shares for approximately $7.0 million during the six months ended July 31, 2025. Significant customer concentration remains in Power Industry Services, with top customers representing notable portions of revenue.