Argan Reports Q2 Profit Rise, Record $2B Backlog

Argan, Inc. reported strong financial results for the second quarter of fiscal 2026, with revenues rising 4.7% year-over-year to approximately $238 million and net income reaching a record $35.3 million, or $2.50 per share, surpassing analyst expectations. The company showcased a robust $2 billion project backlog and maintained a debt-free balance sheet, signaling financial stability and operational efficiency. Despite the earnings beat, Argan's revenue fell slightly short of some forecasts, leading to an 8.43% decline in after-hours stock trading. Analyst consensus is generally positive, with an average 'Outperform' rating and a one-year price target around $228, though some valuation metrics suggest the current stock price may be overextended. Management remains optimistic about growth prospects driven by ongoing demand in the power and renewable energy sectors. Overall, Argan's Q2 results highlight strong profitability and a solid market position amid mixed investor sentiment.