Argan reports Q4 EPS 89c vs $1.00 last year

Reports Q4 revenue $164.55M vs $118.78M last year. David Watson, President and Chief Executive Officer of Argan, commented, “Our solid fourth quarter performance closed out a strong fiscal 2024 for our Company, highlighted by a 26% increase in consolidated revenues to $573.3 million and a 7% increase in annual EBITDA to $51.3 million. Fourth quarter 2024 project backlog grew to $757.0 million sequentially, as compared to backlog of $730.0 million at the close of the third quarter. Backlog levels have remained relatively consistent since fiscal 2022 despite significant revenue growth in the same timeframe. We are energized about the opportunities we’re seeing in the market and our growing project pipeline, which includes several contracts secured after year-end for renewable, natural gas-fired and industrial projects that are in various stages of development and are expected to begin this year. The demand for reliable energy resources is only increasing as the power grid meets the needs of an expanding installed base of data centers, as the increased adoption of EVs and their charging requirements drives energy consumption, and as renewable power solutions require back-up sources. Argan’s capabilities and expertise are suited to the construction and support of all types of energy facilities, and with our established reputation as a proven partner, we’re excited about the marketplace interest we are seeing for our services.”