Argan Inc. reported a robust start to fiscal 2026, with consolidated revenue increasing by 23% to $193.7 million for the first quarter ended April 30, 2025. The company achieved a gross margin of 19.0%, a significant improvement from 11.4% in the same quarter last year. Net income for the quarter rose substantially to $22.6 million, or $1.60 per diluted share, compared to $7.9 million, or $0.58 per diluted share, in the previous year's first quarter. EBITDA also saw a significant increase, reaching $30.3 million, up from $11.9 million a year prior. Other notable financial metrics included a rise in cash, cash equivalents, and investments to $546.5 million as of April 30, 2025, compared to $525.1 million on January 31, 2025. Additionally, the company's project backlog increased to a record $1.9 billion, boosted by the full notice to proceed for the Sandow Lakes Power Station, a 1.2 GW natural gas-fired plant in Texas. Looking ahead, while specific guidance figures were not provided, the strong financial performance and increased project backlog suggest a positive outlook for the company.
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