secwatch.observer — SEC 8-K summary
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Issuer:     ARGAN INC (AGX)
CIK:        0000100591
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001558370-23-010906
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Argan Q1 FY2024 net income $2.1M ($0.16 EPS) down 72% YoY; gross margin 13.7% vs 19.7%
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- Revenue $103.7M (+3.4% YoY) but gross profit fell to $14.2M from $19.7M as project mix shifted.
- EBITDA dropped to $3.6M from $10.7M; net income $2.1M vs $7.5M in prior-year quarter.
- Backlog $806M, consistent with year-end; cash and liquid investments $316.9M; no debt.
- Repurchased 92,656 shares for $3.7M in Q1; total repurchases ~2.5M shares (~15% of outstanding).
- Guernsey Power Station (largest single-phase gas-fired project in U.S.) reached substantial completion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100591/000155837023010906/0001558370-23-010906-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100591/000155837023010906/agx-20230608x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-010906

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