Why Argan Stock Crushed the Market Today
Construction and engineering services provider Argan (NYSE: AGX) was a big hit on the stock exchange Thursday, a direct result of the far better-than-expected quarterly results it posted the day before. Investors plowed into the company to give it an 8% lift on the day, providing a notable contrast to the S&P 500's (SNPINDEX: ^GSPC) 0.5% decrease.For its inaugural quarter of fiscal 2026, Argan's revenue came in at just under $193.7 million, a meaty 23% year-over-year increase. That was accompanied by a significant (36%) increase in project backlog, to a record level of almost $1.9 billion. Even better, net income under generally accepted accounting principles (GAAP) standards nearly tripled, landing at almost $22.6 million ($1.60) versus the less than $7.9 million of fiscal first quarter 2025. Image source: Getty Images.Continue reading
Construction and engineering services provider Argan (NYSE: AGX) was a big hit on the stock exchange Thursday, a direct result of the far better-than-expected quarterly results it posted the day before. Investors plowed into the company to give it an 8% lift on the day, providing a notable contrast to the S&P 500's (SNPINDEX: ^GSPC) 0.5% decrease.
For its inaugural quarter of fiscal 2026, Argan's revenue came in at just under $193.7 million, a meaty 23% year-over-year increase. That was accompanied by a significant (36%) increase in project backlog, to a record level of almost $1.9 billion. Even better, net income under generally accepted accounting principles (GAAP) standards nearly tripled, landing at almost $22.6 million ($1.60) versus the less than $7.9 million of fiscal first quarter 2025.
Image source: Getty Images.
