secwatch.observer — SEC 8-K summary
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Issuer:     ARGAN INC (AGX)
CIK:        0000100591
Form:       8-K
Filed at:   2022-09-08T23:59:59+00:00
Accession:  0001558370-22-014282
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Argan Q2 net income falls to $4.2M from $12.9M; revenue down 11.2%; buyback raised to $100M
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- Net income $4.2M ($0.30 diluted EPS) vs $12.9M ($0.81) a year ago; includes $0.43/share unfavorable IRS R&D credit adjustment.
- Revenue $118.1M, down 11.2% YoY; power industry services segment down $7.7M due to Guernsey project post-peak.
- Board increased share repurchase authorization from $75M to $100M; $73.6M spent so far on 1.94M shares (~12% of outstanding).
- Regular quarterly dividend of $0.25 per share declared, payable Oct 31, 2022 to holders of record Oct 21, 2022.
- Backlog (RUPO) $372M; CEO expects announcement of a new major project in Q3; APC secured contracts for 195 MW in Dublin.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100591/000155837022014282/0001558370-22-014282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100591/000155837022014282/agx-20220908x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-014282

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