Every material Form 8-K Argan filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Argan reported fiscal third-quarter 2025 results for the three months ended October 31, 2024, with revenues of $257.0 million, up 57% from $163.8 million a year earlier. Net income rose to $28.0 million, or $2.00 per diluted share, from $5.5 million, or $0.40, as gross margin improved to 17.2% from 11.7%. The filing states the company had no debt and $506.3 million in cash, cash equivalents and investments.
Q3 revenues $257.0 million vs $163.8 million in the prior-year quarter
Net income $28.0 million, or $2.00 per diluted share, vs $0.40 a year earlier
Project backlog $800 million at October 31, 2024, up from $757 million at January 31, 2024
Cash, cash equivalents and investments $506.3 million; the company reported no debt
Argan's Board declared a 25% increase in the quarterly cash dividend, from $0.30 to $0.375 per common share, payable October 31, 2024 to holders of record on October 23, 2024. The company also promoted Joshua S. Baugher to Senior Vice President, Chief Financial Officer and Treasurer effective September 16, 2024, succeeding Richard H. Deily, who retired as CFO on September 15, 2024. The higher dividend raises the cash return to shareholders, and the CFO change is a leadership transition at the company's finance function.
Quarterly dividend raised from $0.30 to $0.375 per share, or $1.50 annually, declared September 17, 2024
Dividend payable October 31, 2024 to stockholders of record at close of business October 23, 2024
Joshua S. Baugher, age 44, becomes CFO effective September 16, 2024, with a $250,000 base salary
Employment agreements also filed for CEO David H. Watson ($500,000 base salary) and Charles Collins IV
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.
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.
Argan reported results for the first quarter of fiscal 2025, ended April 30, 2024. Revenue rose 52.1% to $157.7 million and net income was $7.9 million, or $0.58 per diluted share, versus $2.1 million, or $0.16, a year earlier. Gross margin fell to 11.4% from 13.7%, partly due to a $2.6 million loss on the Kilroot Power Station project in Northern Ireland.
Revenue of $157.7 million for the quarter, up from $103.7 million in the prior-year quarter
Net income of $7.9 million, or $0.58 per diluted share, compared with $0.16 a year earlier
Gross margin of 11.4% versus 13.7%, reflecting a $2.6 million Kilroot loss; backlog reached $824 million at April 30, 2024
Argan and certain subsidiaries entered into a new credit agreement with Bank of America dated May 24, 2024, expiring May 31, 2027, which cuts the base commitment from $50.0 million to $35.0 million and raises the accordion feature to $30.0 million from $10.0 million. A companion $25.0 million facility for Argan's Irish subsidiary and a parent company guarantee were also set up, and the company says the arrangement may offer a potentially lower overall cost.
Base lending commitment reduced from $50.0 million to $35.0 million; accordion increased from $10.0 million to $30.0 million, subject to conditions
Revolving loans priced at SOFR plus 1.85%; letter of credit fees increased to reflect current market conditions
Companion $25.0 million facility for subsidiary Atlantic Projects Company Limited completed May 31, 2024, secured by a blanket parent company guarantee
Argan reported fourth-quarter revenue of $164.6 million, up 38.5% from a year earlier, but net income fell to $12.0 million, or $0.89 per diluted share, from $13.6 million, or $1.00. The company tied the profit decline to a loss on its Kilroot Power Station project in Northern Ireland, while full-year fiscal 2024 revenue rose 26% to $573.3 million and diluted EPS rose to $2.39 from $2.33. The board also declared a regular quarterly dividend of $0.30 per share.
Q4 revenue $164.6 million vs. $118.8 million a year earlier; Q4 net income $12.0 million, $0.89 per diluted share, vs. $1.00
Kilroot project losses of approximately $2.1 million in Q4 and $13.6 million for fiscal 2024; the company says it has submitted claims above the recorded loss
Fiscal 2024 revenue $573.3 million, up 26.0%; net income $32.4 million, $2.39 per diluted share, vs. $2.33
Quarterly dividend of $0.30 per share payable April 30, 2024 to holders of record on April 22, 2024
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Argan filing is on SEC EDGAR ↗. 8-K briefs of other companies →