Jul 2026 (Q2 FY27) — Sep 2, 2026
Argan Q2 FY27 — Record Revenue and Net Income Driven by Power Segment
Read the full callArgan earnings: last reported Wed, 2 Sep 2026, for the quarter ended Jul 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 384 | +61.5% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 14.8 | +2.1 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 53.3 | +51.1% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
8 of 9 judged targets kept · 3 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Completion of additional North Carolina fabrication facility | Complete construction of the additional North Carolina fabrication facility and have it producing tanks later this year | Apr 2026 | The new facility is on track for completion later this year. | On Track |
| Consolidated gross margin | 14% to 16% range or slightly higher | Oct 2024 | Consolidated gross profit for the comparative quarter last fiscal year was $36.9 million, representing a gross margin of 19%. | Achieved |
| Completion of third Illinois solar plus battery project | Finish the third of the 3 Illinois solar plus battery projects during fiscal 2026 | Jan 2025 | during the first quarter, we reached substantial completion also ahead of schedule on the final project of our three-part Midwest solar and battery projects | Missed |
1 of ARGAN INC's 12 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $267.62 on 22 Oct 2025 → $331.03. High $798.55 (30 Jun 2026), low $267.62 (22 Oct 2025).
Overview
Guidance
8 of 9 judged targets kept · 3 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Completion of additional North Carolina fabrication facility | Complete construction of the additional North Carolina fabrication facility and have it producing tanks later this year | Apr 2026 | The new facility is on track for completion later this year. | On Track |
| Consolidated gross margin | 14% to 16% range or slightly higher | Oct 2024 | Consolidated gross profit for the comparative quarter last fiscal year was $36.9 million, representing a gross margin of 19%. | Achieved |
| Completion of third Illinois solar plus battery project | Finish the third of the 3 Illinois solar plus battery projects during fiscal 2026 | Jan 2025 | during the first quarter, we reached substantial completion also ahead of schedule on the final project of our three-part Midwest solar and battery projects | Missed |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 12 tracked commitments, with each call’s wording and source.
Call summaries
Argan Q2 FY27 — Record Revenue and Net Income Driven by Power Segment
Read the full callArgan, Inc. Q1 FY27 — Record $291M revenue on Power segment ramp, 21% gross margin
Read the full callArgan Q4 FY26 — Record Performance Driven by Strong Backlog and Power Segment Execution
Read the full callEvery analysed call
Financials
Net profit, year on year: +51% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 257 | 232 | 194 | 238 | 251 | 262 | 291 | 384 |
| Operating profit | 30 | 33 | 24 | 30 | 33 | 48 | 45 | 57 |
| Operating margin | 11.8% | 14.1% | 12.6% | 12.6% | 13.0% | 18.2% | 15.6% | 14.8% |
| Profit before tax | 37 | 39 | 30 | 36 | 40 | 55 | 54 | 67 |
| Tax rate | 24.3% | 18.8% | 24.3% | 1.0% | 22.6% | 11.2% | 14.3% | 20.3% |
| Net profit | 28 | 31 | 23 | 35 | 31 | 49 | 46 | 53 |
| EPS ($ per share) | 2.07 | — | 1.65 | 2.57 | 2.22 | — | 3.30 | 3.80 |
| Line item | Jan 2019 | Jan 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 248 | 189 | 166 | 189 | 208 | 226 | 293 | 406 |
| Total liabilities | 82 | 147 | 280 | 228 | 209 | 307 | 484 | 724 |
| Fixed assets | 20 | 23 | 20 | 10 | 10 | 11 | 14 | 17 |
| Investments | — | — | — | — | 152 | 109 | 153 | 152 |
| Total assets | 477 | 488 | 603 | 554 | 489 | 598 | 836 | 1,186 |
| Line item | Jan 2019 | Jan 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -112 | 54 | 176 | 28 | -30 | 117 | 168 | 415 |
| Cash from investing | 171 | -36 | 67 | -7 | -63 | -68 | -194 | -182 |
| Cash from financing | -16 | -14 | -45 | -35 | -83 | -26 | -26 | -43 |
| Net cash flow | 42 | 3 | 199 | -16 | -177 | 23 | -52 | 194 |
| Capital expenditure | -9 | -7 | -2 | -1 | -3 | -3 | -7 | -4 |
| Free cash flow | -121 | 47 | 174 | 27 | -33 | 114 | 161 | 411 |
Power Industry Services shrank from 83% to 78% of revenue over the last two years.
| Segment | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Power Industry Services | 83% | 85% | 83% | 83% | 78% | 78% | 78% | 78% | +52.9% |
| Industrial Construction Services | 16% | — | 15% | 15% | 20% | 20% | 20% | 20% | +111.2% |
| Telecommunications Infrastructure Services | 1% | 1% | 2% | 2% | 3% | 2% | 2% | 2% | +39.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
| KPI | Jan 2026 Q4 FY26 | 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.
Q2 FY2027 · share of revenue
As AGX cuts its regions in its filings; they can nest, so they need not add to 100%.
108 filings between Dec 1, 2025 and Sep 22, 2026.
Purchases
None
No insider bought shares.
Sales
$146.79M
37 sales by 11 insiders
Also filed: 7 gifts, 4 other filings.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Griffin William F Jr | — | $69.16M | Jun 22, 2026 |
| Watson David Hibbert | — | $19.46M | Jun 16, 2026 |
| Leimkuhler William F. | — | $14.93M | Apr 28, 2026 |
| Jeffrey John Ronald Jr. | — | $12.64M | Jul 31, 2026 |
| Getsinger Peter W | — | $11.44M | Jun 17, 2026 |
| Flanders Cynthia | — | $9.08M | Jun 15, 2026 |
| Collins Charles Edwin IV | — | $8.40M | Apr 21, 2026 |
| Baugher Joshua Scott | — | $920.7K | Jun 17, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 22, 2026 | Getsinger Peter W Director | Option exercise | 895 | $35.9K |
| Jul 31, 2026 | Jeffrey John Ronald Jr. Director | Sale | 5,716 | $3.31M |
| Jun 30, 2026 | Jeffrey John Ronald Jr. Director | Option exercise | 944 | $41.3K |
| Jun 30, 2026 | Jeffrey John Ronald Jr. Director | Option exercise | 4,772 | $170.5K |
| Jun 22, 2026 | Griffin William F Jr Director | Sale | 20,000 | $15.21M |
| Jun 18, 2026 | Griffin William F Jr Director | Sale | 30,000 | $21.78M |
| Jun 17, 2026 | Baugher Joshua Scott Chief Financial Officer | Sale | 455 | $333.4K |
| Jun 17, 2026 | Baugher Joshua Scott Chief Financial Officer | Option exercise | 455 | $27.9K |
| Jun 17, 2026 | Baugher Joshua Scott Chief Financial Officer | Sale | 305 | $223.9K |
| Jun 17, 2026 | Sweeney Karen Director | Sale | 300 | $211.5K |
| Jun 17, 2026 | Getsinger Peter W Director | Sale | 2,000 | $1.40M |
| Jun 16, 2026 | Getsinger Peter W Director | Sale | 4,728 | $3.35M |
| Jun 16, 2026 | Watson David Hibbert PRESIDENT AND CEO | Sale | 1,880 | $1.33M |
| Jun 16, 2026 | Watson David Hibbert PRESIDENT AND CEO | Option exercise | 430 | $63.9K |
| Jun 16, 2026 | Watson David Hibbert PRESIDENT AND CEO | Option exercise | 588 | $36.0K |
| Jun 16, 2026 | Watson David Hibbert PRESIDENT AND CEO | Option exercise | 862 | $34.0K |
| Jun 15, 2026 | Getsinger Peter W Director | Option exercise | 4,728 | $168.9K |
| Jun 15, 2026 | Watson David Hibbert PRESIDENT AND CEO | Sale | 9,993 | $6.51M |
| Jun 15, 2026 | Flanders Cynthia Director | Sale | 2,596 | $1.73M |
| Jun 12, 2026 | Griffin William F Jr Director | Sale | 50,000 | $32.17M |
| Jun 10, 2026 | QUINN JAMES W Director | Option exercise | 533 | $0 |
| Jun 10, 2026 | Getsinger Peter W Director | Option exercise | 533 | $0 |
| Jun 10, 2026 | Sweeney Karen Director | Option exercise | 533 | $0 |
| Jun 10, 2026 | Larroque Alexander Lisa Director | Option exercise | 533 | $0 |
| Jun 10, 2026 | Jeffrey John Ronald Jr. Director | Option exercise | 533 | $0 |
| Jun 10, 2026 | Flanders Cynthia Director | Option exercise | 533 | $0 |
| Jun 10, 2026 | Flanders Cynthia Director | Gift | 1,000 | $0 |
| Jun 10, 2026 | Leimkuhler William F. Director | Option exercise | 533 | $0 |
| Apr 29, 2026 | Larroque Alexander Lisa Director | Sale | 350 | $220.7K |
| Apr 29, 2026 | Getsinger Peter W Director | Gift | 500 | $0 |
| Apr 29, 2026 | Getsinger Peter W Director | Sale | 3,000 | $1.89M |
| Apr 28, 2026 | Leimkuhler William F. Director | Sale | 5,000 | $3.09M |
| Apr 28, 2026 | Leimkuhler William F. Director | Sale | 400 | $247.4K |
| Apr 28, 2026 | Leimkuhler William F. Director | Sale | 400 | $248.5K |
| Apr 27, 2026 | Jeffrey John Ronald Jr. Director | Sale | 2,698 | $1.79M |
| Apr 21, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 5,235 | $177.0K |
| Apr 21, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Sale | 11,068 | $6.88M |
| Apr 21, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 333 | $49.5K |
| Apr 21, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 500 | $30.6K |
| Apr 21, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 5,000 | $183.9K |
| Apr 21, 2026 | Jeffrey John Ronald Jr. Director | Option exercise | 4,698 | $174.4K |
| Apr 21, 2026 | Jeffrey John Ronald Jr. Director | Sale | 3,636 | $2.24M |
| Apr 20, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Sale | 2,500 | $1.52M |
| Apr 20, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 2,500 | $98.7K |
| Apr 17, 2026 | Watson David Hibbert PRESIDENT AND CEO | Sale | 19,310 | $11.63M |
| Apr 17, 2026 | Watson David Hibbert PRESIDENT AND CEO | Option exercise | 5,756 | $0 |
| Apr 17, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 1,125 | $0 |
| Apr 17, 2026 | Watson David Hibbert PRESIDENT AND CEO | Option exercise | 11,513 | $0 |
| Apr 17, 2026 | Watson David Hibbert PRESIDENT AND CEO | Option exercise | 2,302 | $0 |
| Apr 17, 2026 | Collins Charles Edwin IV CHIEF EXECUTIVE OFFICER, GEMMA | Option exercise | 2,813 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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