Argan reported record first quarter fiscal 2027 revenue of $291.0 million, a 50.2% year-over-year increase, and diluted EPS of $3.24, significantly exceeding analyst expectations of $252.5 million and $2.27, respectively. The results were driven by strong performance across all business segments and improved margins.
Key Highlights
- Consolidated revenue grew 50.2% YoY to a record $291.0 million, primarily driven by the ramp-up of construction activities on recently awarded contracts in the Power segment.
- Gross margin expanded by 200 basis points to 21.0% from 19.0% in the prior-year quarter, attributed to strong project execution, favorable contract mix, and early project completion.
- Project backlog remains robust at $2.8 billion, a slight decrease from $2.9 billion in the prior quarter, as the company converts existing projects into revenue.