Argan (AGX) Q2 FY2027 earnings: revenue $384 million, up 61.5% on the year

Argan Inc. (AGX) reported revenue of $384 million for Q2 FY2027, the quarter ended 31 July 2026, up 61.5% on the same quarter a year earlier. Net income was $53 million, up 51.1% on the year, and diluted earnings per share $3.76. The figures are the company's own, from the 10-Q it filed with the SEC on 2 September 2026.

Revenue$384 millionup 61.5%

Net income$53 millionup 51.1%

Diluted EPS$3.76

QuarterQ2 FY2027ended 31 July 2026

What management said

Q2 revenue reached record $384 million: Q2 FY2027 revenues were $384.0 million, an increase of $146.2 million or 61.5% from $237.7 million in prior-year Q2. Six-month revenues reached $674.9 million, up 56.5% from $431.4 million in the prior year.
Net income and EPS hit records: Q2 net income was $53.3 million or $3.76 per diluted share, compared to $35.3 million or $2.50 in prior-year Q2. Six-month net income reached $99.4 million or $7.01 per diluted share versus $57.8 million or $4.09 prior year.
Power segment revenue grew 53% with 22% margin: Power segment revenue growth was driven by continued ramp-up of construction activities on several contracts not yet at peak construction. The segment achieved 53% year-over-year growth to $301 million at a gross margin of 22%.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2027	Q1 FY2027	Q2 FY2026	Change on the year
Revenue	384	291	238	+61.5%
Cost of revenue	310	230	193	+60.1%
Gross profit	74.2	61.1	44.3	+67.7%
Gross margin	19.3%	21.0%	18.6%
Selling, general and administrative	17.4	15.7	14.2	+22.5%
Operating income	56.8	45.4	30.1	+89.0%
Operating margin	14.8%	15.6%	12.6%
Pre-tax income	66.9	53.8	35.6	+87.7%
Income tax	13.6	7.7	0.4	+3663.4%
Effective tax rate	20.3%	14.3%	1.0%
Net income	53.3	46.1	35.3	+51.1%
Net margin	13.9%	15.8%	14.8%
Diluted EPS	$3.76	$3.24	$2.50	+50.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2027	Q1 FY2027	Q2 FY2026	Change on the year
Operating cash flow	97.0	113	34.6	+180.2%
Capital expenditure	5.3	2.4	1.7	+210.2%
Free cash flow	91.7	111	32.9	+178.7%
Free cash flow margin	23.9%	38.1%	13.8%
Cash from investing	-63.3	-67.5	-39.2	n/a
Cash from financing	-18.1	-33.6	-6.9	n/a
Depreciation and amortisation	0.7	0.6	0.6	+22.2%
Share-based compensation	2.4	2.0	2.3	+4.3%
Buybacks	6.7	3.0	0.2	+3263.8%
Dividends paid	7.0	7.0	5.2	+35.6%
Dividend per share	$0.50	$0.50	$0.38	+33.3%
Diluted shares, weighted	14m	14m	14m	+0.2%
Shares outstanding at period end	14m	14m	14m	+1.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2027	Q1 FY2027	Q2 FY2026	Change on the year
Shareholders' equity	507	474	393	+28.9%
Debt	0.0	0.0	0.0	n/a
Other liabilities	894	813	490	+82.7%
Total liabilities and equity	1,401	1,286	883	+58.7%
Fixed assets	22.8	18.3	15.7	+45.1%
Goodwill	30.7	28.0	28.0	+9.4%
Intangible assets	6.0	1.4	1.6	+269.9%
Investments	183	173	97.7	+87.8%
Cash and equivalents	364	356	178	+104.9%
Receivables	180	131	179	+0.7%
Other assets	613	579	383	+60.3%
Total assets	1,401	1,286	883	+58.7%

Questions

What was Argan's revenue in Q2 FY2027?

Argan (AGX) reported revenue of $384 million for Q2 FY2027, the quarter ended 31 July 2026, up 61.5% on the same quarter a year earlier.

How much did Argan earn in Q2 FY2027?

Net income for Q2 FY2027 was $53 million, up 51.1% on the year, and diluted earnings per share $3.76.

When did Argan report Q2 FY2027 results?

Argan filed its 10-Q for the quarter ended 31 July 2026 with the SEC on 2 September 2026.

Quarterly results, the last 12 quarters

	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	164	165	158	227	257	232	194	238	251	262	291	384
Cost of revenue	145	141	140	196	213	185	157	193	204	196	230	310
Gross profit	19.2	23.6	17.9	31.1	44.3	47.6	36.9	44.3	46.9	65.6	61.1	74.2
Gross margin	12%	14%	11%	14%	17%	20%	19%	19%	19%	25%	21%	19%
SG&A	11.4	11.9	11.4	12.4	14.0	14.9	12.5	14.2	14.3	17.9	15.7	17.4
Operating income	7.9	11.7	6.5	18.7	30.3	32.7	24.3	30.1	32.6	47.7	45.4	56.8
Operating margin	5%	7%	4%	8%	12%	14%	13%	13%	13%	18%	16%	15%
Pre-tax income	11.6	17.0	11.3	24.3	37.0	38.6	29.8	35.6	39.7	55.4	53.8	66.9
Tax rate	53%	29%	30%	25%	24%	19%	24%	1%	23%	11%	14%	20%
Net income	5.5	12.0	7.9	18.2	28.0	31.4	22.6	35.3	30.7	49.2	46.1	53.3
Net margin	3%	7%	5%	8%	11%	13%	12%	15%	12%	19%	16%	14%
Diluted EPS	$0.40	$0.89	$0.58	$1.31	$2.00	$2.22	$1.60	$2.50	$2.17	$3.47	$3.24	$3.76
Operating cash flow	57.7	24.6	17.7	73.5	31.8	44.6	35.3	34.6	172	172	113	97.0
Capital expenditure	1.1	0.6	0.3	2.3	2.5	1.4	0.4	1.7	0.6	1.2	2.4	5.3
Free cash flow	56.6	24.0	17.4	71.1	29.2	43.3	34.9	32.9	172	171	111	91.7
Buybacks	1.7	4.0	0.2	0.0	0.5	0.9	6.8	0.2	0.0	2.8	3.0	6.7
Dividends paid	4.0	4.0	4.0	4.0	5.2	5.0	5.1	5.2	7.1	7.0	7.0	7.0
Shares outstanding	13m	13m	13m	13m	14m	14m	14m	14m	14m	14m	14m	14m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 July 2026, filed 2 September 2026, accession 0001104659-26-104745: the filing on EDGAR. All of Argan Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install