ARGAN

Latest Results (13.10.2025):

Argan, Inc. reported strong financial performance for the fourth quarter and fiscal year 2025, demonstrating significant growth in revenues, net income, and EBITDA. The company successfully expanded its project backlog and maintained a robust cash position, underscoring its solid position in the energy infrastructure market.

Revenue Growth

For the fourth quarter ended January 31, 2025, Argan achieved consolidated revenues of $232.5 million, marking a 41% increase from $164.6 million in the same quarter last year. Fiscal year 2025 revenues surged by 52.5% to $874.2 million compared to $573.3 million in fiscal 2024.

Net Income and Earnings Per Share

Net income for Q4 2025 reached $31.4 million, or $2.22 per diluted share, up from $12.0 million and $0.89 per diluted share in Q4 2024. For the fiscal year, net income increased to $85.5 million, translating to $6.15 per diluted share, compared to $32.4 million and $2.39 per diluted share in the previous year.

EBITDA Improvement

EBITDA for the fourth quarter was $39.3 million, a substantial rise from $17.6 million in Q4 2024. Over the fiscal year, EBITDA grew to $113.5 million from $51.3 million, reflecting enhanced operational efficiency and profitability.

Cash Position and Dividends

Argan strengthened its cash, cash equivalents, and investments to $525.1 million as of January 31, 2025, up from $412.4 million the previous year. The company also increased its cash dividends per share to $0.375 for Q4 2025 and $1.35 for the fiscal year, up from $0.30 and $1.10 respectively.

Project Backlog Expansion

The company’s project backlog grew significantly to $1.36 billion at the end of Q4 2025, up from $757 million in Q4 2024. This includes major projects such as a 700 MW combined-cycle natural gas project in the U.S. and a 300 MW biofuel power plant in Ireland, along with a newly signed 1.2 GW ultra-efficient natural gas-fired power plant in Texas.

Strong Cash Liquidity

Argan maintained robust net liquidity of $301.4 million as of January 31, 2025, an increase of $56.5 million from the previous year, while continuing to repurchase treasury stock, enhancing shareholder value.