AGX Argan (AGX) Q1 FY27 earnings call
Argan delivered a record quarter as the Power segment (78% of revenue) ramped construction on recently awarded gas-fired projects, lifting the blended gross margin to 21% on strong execution and ahead-of-schedule completions at Trumbull and the final Midwest solar-plus-storage project. Management frames execution — not demand — as the swing factor on outsized returns, while cautioning that several jobs remain early in their schedules with margin outcomes still unsettled. The forward stance is disciplined growth: backlog dipped sequentially amid the timing gap between finishing jobs and booking
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AGX operating KPIs by quarter
| KPI | Jan 2026 Q4 FY26 | This call Apr 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|
| Backlog Power | $2.7BPretax book income was $55 million, and the Power segment closed the year with backlog of $2.7 billion.Source: earnings call transcript | $2.5BPretax book income was $52 million, and the Power segment had backlog of $2.5 billion at the close of the first quarter.Source: earnings call transcript | — | -7.4% |
| Backlog Industrial | $253MBacklog for the Industrial segment was $253 million at January 31, 2026.Source: earnings call transcript | $225MBacklog for the Industrial segment was $225 million at April 30, 2026.Source: earnings call transcript | $210MBacklog for the Industrial segment was $210 million at July 31, 2026, and construction on our second fabrication facility is progressing well.Source: earnings call transcript | -6.7% |
| Backlog Teledata | $8.4MThe segment closed fiscal 2026 with backlog of $8.4 million.Source: earnings call transcript | $8MThe segment exited the first quarter with backlog of $8 million.Source: earnings call transcript | — | -4.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.