Argan reports Q2 EPS $2.50, consensus $1.64

Reports Q2 revenue $237.7M, consensus $244.0M. David Watson, CEO, commented, “We drove continued momentum in the second quarter of fiscal 2026, as reflected in consolidated revenue of $237.7 million, gross margin of 18.6%, significantly improved diluted earnings per share of $2.50 and substantially increased EBITDA of $36.2 million. Additionally, demand for our capabilities across all of our business segments remains strong, with record backlog of $2.0 billion. We achieved a few project milestones in the quarter, reflecting excellent execution and solid progress within our project base. During the quarter, we completed our LNG project in Louisiana and achieved first fire at one of our Trumbull units, followed by first fire at the second Trumbull unit occurring in August. Several of our renewable projects advanced meaningfully this summer, as cooperative weather allowed us to make significant progress. Additionally, in July we announced that we entered into an engineering, procurement and construction services contract for the Platin Power Station located in Ireland. The facility will provide approximately 170 MW of generation capacity to the grid during periods of high demand and supply shortfall.”