Argan Q2 Revenue Jumps 62% to $384M, Crushing Estimates on Power Segment Surge
AGX has more than doubled off its 52-week low of $197.
Summary
Argan blew past Q2 expectations with revenue up 62% to $384M versus the $300.6M consensus, driven by a 53% jump in Power segment revenue to $301M. Diluted EPS climbed to $3.76 from $2.50 a year ago, and the company raised its quarterly dividend to $0.50 per share. Gross margin improved on a favorable project mix and strong execution. The results follow a record Q1 and a series of insider stock sales in June, but the operational momentum is clear. No forward guidance was provided, leaving the stock's next move tied to project announcements and backlog updates.
At the time of this announcement, AGX was trading at $442.09 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $5.8B. The 52-week trading range was $197.00 to $805.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.