Argan Q3 net income down 37% to $7.8M; revenue falls 5.3% to $117.9M

ARGAN INC

2023-Q3 EPS reported $1.36 revenue$336,262,000

Diluted EPS of $0.56 vs $0.78 in prior year; net income $7.8M vs $12.4M.
Revenue $117.9M, down $6.6M YoY; gross margin 18.8% vs 21.0%.
Backlog rose to $839M from $714M; received NTP for Trumbull Energy Center 950 MW plant.
Cash and ST investments $287M, no debt; maintained $0.25 quarterly dividend.
Repurchased 308K shares for $10M in Q3; total $84M repurchased under $100M program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARGAN INC reported the three months ended October 31, 2022 results: revenue $117.9 million, net income $7.8 million, EPS $0.56 per diluted share.

Period: the three months ended October 31, 2022
Revenue: $117.9 million
Net income: $7.8 million
EPS: $0.56 per diluted share
Result: reported results

Exact text from the filing

and our strong balance sheet, we are positioned to finish out the year strong and for growth into the future.” Consolidated revenues for the quarter ended October 31, 2022 were $117.9 million, which represented a decrease of $6.6 million, or 5.3%, from consolidated revenues of $124.5 million reported for the three months ended October 31, 2021. Consolidated revenues

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Source: SEC EDGAR

accession 0001558370-22-018448

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