Argan Q3 revenue up 39% to $163.8M; net income down to $5.5M on Kilroot loss; dividend raised 20%

ARGAN INC

2024-Q3 EPS reported $1.50 revenue$408,779,000

Revenue $163.8M (+39% YoY); net income $5.5M ($0.40 EPS) vs $7.8M ($0.56 EPS) YoY.
Gross margin fell to 11.7% from 18.8%, driven by $10.7M pre-tax loss on Kilroot project.
Backlog $730M (down from $822M at Jan 31, 2023); cash & investments $397.5M, no debt.
Quarterly dividend increased 20% to $0.30/share; $125M active share repurchase program.
Nine-month net income $20.3M ($1.50 EPS) vs $19.5M ($1.36 EPS) YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARGAN INC reported third quarter of fiscal year 2024, ended October 31, 2023 results: revenue $163.8 million, net income $5.5 million, EPS $0.40 per diluted share.

Period: third quarter of fiscal year 2024, ended October 31, 2023
Revenue: $163.8 million
Net income: $5.5 million
EPS: $0.40 per diluted share
Result: reported results

Exact text from the filing

Consolidated revenues for the quarter ended October 31, 2023 were $163.8 million, an increase of $45.9 million, or 38.9%, from consolidated revenues of $117.9 million

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Source: SEC EDGAR

accession 0001558370-23-019514

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