Argan reports Q2 EPS $1.31 vs. 94c last year

Reports Q2 revenue $227.0M vs. $141.3M last year. David Watson, CEO, commented, “We are seeing continued momentum across our business as we move through fiscal 2025, as demonstrated by a 61% increase in consolidated revenues to $227 million during the second quarter, significantly enhanced profitability of $18.2 million, or $1.31 per diluted share, and EBITDA of approximately $25 million – our highest quarterly EBITDA level since 2017. These consolidated results reflect the strong performance of Gemma Power Systems and its sustained growth in the renewable market. The Roberts Company also generated record quarterly revenues of almost $50 million as it continues the delivery of successful projects to its customers. The Company closed the second quarter with backlog of $1.0 billion, which reflects an increase from last quarter of approximately $210 million, and includes $570 million of renewable projects. We believe that the addition of high energy demand data centers, the onshoring of manufacturing operations and the expansion of electric vehicle use are primary drivers of the increasing forecasts of future electrical power demands and the robust pipeline of new business opportunities. Our pipeline remains strong and we are confident that our energy-agnostic capabilities and proven success leave us well positioned to compete effectively for the growing number of projects coming to market. There is a critical need to establish consistent, high quality energy resources to ensure grid reliability, and we’re excited about the opportunities we are seeing to grow Argan’s role as a partner of choice for the construction of all types of energy facilities.”