---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-118462"
form_type: "8-K"
ticker: "AGX"
cik: "0000100591"
company_name: "ARGAN INC"
filed_at: "2025-12-04T23:59:59+00:00"
generated_at: "2026-05-16T14:29:27.959284+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-118462
- form_type: 8-K
- ticker: AGX
- cik: 0000100591
- company_name: ARGAN INC
- filed_at: 2025-12-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100591/000110465925118462/0001104659-25-118462-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100591/000110465925118462/agx-20251204x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-118462
- JSON: https://secwatch.observer/filing/0001104659-25-118462.json
- Plain text: https://secwatch.observer/filing/0001104659-25-118462.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.