Argan Q2 revenue up 60.6% to $227.0 million; diluted EPS $1.31 vs $0.94
Argan reported fiscal second-quarter results for the three months ended July 31, 2024, with revenue up 60.6% to $227.0 million and net income of $18.2 million, or $1.31 per diluted share, versus $0.94 a year earlier. Gross margin fell to 13.7% from 16.8%, and backlog reached $1.0 billion at quarter end, which the company says reflects an increase of approximately $210 million from the prior quarter.
Key points
- Consolidated revenues were $227.0 million, up $85.7 million from $141.3 million a year earlier.
- Net income was $18.2 million, or $1.31 per diluted share, compared with $12.8 million, or $0.94 per diluted share.
- Gross margin was 13.7%, down from 16.8%, reflecting the changing mix of projects and contract types.
- Project backlog was $1.0 billion at July 31, 2024, and cash, cash equivalents and investments totaled $484.7 million.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 05, 2024.
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