Argan (AGX) Investor presentation summary

Investment highlights

• Record Q2 FY27 revenue of $384M, up 62% year over year, with a gross margin of 19.3%.

• Earnings per diluted share reached $3.76, a $1.26 increase from the prior year.

• Adjusted EBITDA hit $70M in Q2, representing 18.2% of revenue.

• Project backlog stood at $2.5B as of July 31, 2026, fully committed and active.

• Cash and investments totaled $1B, net liquidity $440M, with no debt and a 40% dividend increase.

Business segments and growth drivers

• Power segment contributed 78% of Q2 FY27 revenues, driven by electrification, data centers, and alternative energy.

• Industrial segment accounted for 20%, benefiting from onshoring and diverse end markets.

• Teledata segment made up 2%, with growth from communications infrastructure and data center demand.

• Acquisition of ValCor Communications expanded geographic reach and customer base.

Backlog and major projects

• Backlog composition includes large-scale power, solar, and biofuel projects in the US and Ireland.

• CPV Basin Ranch Energy Center (1,350 MW, Texas) and Sandow Lakes Power Station (1,200 MW, Texas) are key projects.

• Illinois solar project (405 MW) is the largest to date, with completion ahead of schedule.

• Tarbert Next Generation Power Station (300 MW, Ireland) supports renewable grid and energy security.