Argan reports Q4 net income $13.6M ($1.00 EPS) vs $2.2M; backlog rises to $822M

ARGAN INC

Q4 revenue $118.8M (-5.4% YoY); net income $13.6M vs $2.2M, boosted by $3.2M tax benefit and lower SG&A.
Full year revenue $455.0M (-10.7% YoY), net income $33.1M ($2.33 diluted EPS) vs $38.2M ($2.40) prior year.
Backlog at Jan 31, 2023: $822M, up from $714M; management expects increased revenue in FY2024 as projects ramp.
Board declares $0.25 quarterly dividend, payable April 28; unchanged from prior.
During FY2023 repurchased 1.86M shares for $68.2M; total repurchases since Nov 2021 ~15% of outstanding shares.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARGAN INC reported the fourth quarter and the fiscal year ended January 31, 2023 results: revenue $ 118,778 (quarter) and $ 455,040 (fiscal year), net income $ 13,633 (quarter) and $ 33,098 (fiscal year), EPS $ 1.00 per diluted share (quarter) and $ 2.33 per diluted share (fiscal year).

Period: the fourth quarter and the fiscal year ended January 31, 2023
Revenue: $ 118,778 (quarter) and $ 455,040 (fiscal year)
Net income: $ 13,633 (quarter) and $ 33,098 (fiscal year)
EPS: $ 1.00 per diluted share (quarter) and $ 2.33 per diluted share (fiscal year)
Result: reported results

Exact text from the filing

ET. Consolidated Financial Highlights ($ in thousands, except per share data) January 31, For the Quarter Ended: 2023 2022 Change Revenues $ 118,778 $ 125,570 $ (6,792) Gross profit 20,028 22,231 (2,203) Gross margin % 16.9 % 17.7 % (0.8) % Net income attributable to the stockholders of the Company $ 13,633

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Source: SEC EDGAR

accession 0001558370-23-006051

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