Argan reports Q3 net income $30.7M ($2.17 EPS); backlog hits record $3.0B

ARGAN INC

2026-Q3 EPS reported $6.27 revenue$682,556,000

Net income $30.7M ($2.17 diluted EPS) vs $28.0M ($2.00) YoY; revenues $251.2M (-2.3%).
Record project backlog $3.0B, up from $1.4B at Jan 2025, added two Texas gas-fired projects (1.4 GW CPV Basin Ranch, 860 MW).
Gross margin improved to 18.7% from 17.2%; EBITDA $40.3M vs $37.5M.
Cash & investments $726.8M; no debt; dividend raised to $0.50/share from $0.375.

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