Argan, Inc. (NYSE: AGX) reported financial results for the second quarter of fiscal year 2027, which ended July 31, 2026. The company announced record revenue of $383.976 million for the quarter, a significant increase from the $237.743 million reported in the same period of the prior year. This represents a year-over-year increase of $146.233 million, or 61.5%.
For the six months ended July 31, 2026, consolidated revenues totaled $674.930 million, compared to $431.403 million for the first six months of fiscal 2026, an increase of $243.527 million, or 56.5%.
Net income for the second quarter of fiscal 2027 was $53.302 million, or $3.76 per diluted share, compared to $35.275 million, or $2.50 per diluted share, in the prior year. For the first six months of fiscal 2027, net income was $99.365 million, or $7.01 per diluted share, versus $57.825 million, or $4.09 per diluted share, in the prior year.
Adjusted EBITDA for the quarter ended July 31, 2026, was $70.030 million, compared to $38.490 million in the prior year. For the six months ended July 31, 2026, Adjusted EBITDA was $126.469 million, compared to $69.977 million in the prior year.
As of July 31, 2026, the company held $1.028 billion in cash, cash equivalents, and investments, with net liquidity of $440.360 million. The company reported no debt as of that date. The company’s project backlog was approximately $2.518 billion as of July 31, 2026, a decrease of $411 million from the $2.929 billion backlog reported as of January 31, 2026.
During the quarter, the company completed the final project of its Midwest Solar and Battery Projects. Additionally, the company closed the acquisition of ValCor Communications, a Connecticut-based provider of installation and repair services for information, communication, and data networks.
