Argan reported record second-quarter fiscal 2027 revenue of $384 million, increasing 61.5% from $237.7 million in the prior-year period.
Gross profit increased to $74.2 million from $44.3 million, while gross margin expanded to 19.3% from 18.6%.
Net income reached a record $53.3 million, or $3.76 per diluted share, while adjusted EBITDA reached a record $70 million.
Argan’s Power segment generated $301 million in revenue, increasing 53% year over year, with a gross margin of 22%.
The company completed the remaining project in its Midwest Solar and Battery Projects after the end of the quarter.
Within Industrial, Argan is constructing a new fabrication facility expected to be completed next quarter. The plant is intended to meet increased demand for vessels used in data centers.
Argan’s Teledata segment also completed the acquisition of ValCor Communications, expanding its geographic presence and adding defense, aerospace and technology customers.
Consolidated project backlog stood at approximately $2.5 billion as of July 31, 2026, compared with $2.9 billion at the end of January.
KEY QUOTE:
“We delivered a strong second quarter, highlighted by record revenue of $384 million, a gross margin of 19.3%, record net income of $53 million, and record adjusted EBITDA of $70 million. Our Power segment continued to execute extremely well during the second quarter, growing revenue 53% year over year to $301 million at a gross margin of 22%.”
“We are energized by the opportunities we are seeing across all three of our business segments and believe that our diverse capabilities, proven track record of excellent execution, and strong balance sheet position us well to benefit from the current demand environment. This is an exciting time for Argan and we remain focused on capturing the right projects with the right partners in the right geographies.”
David Watson, President and Chief Executive Officer of Argan
