Argan Inc (NYSE:AGX) shares are moving higher on Friday after the company delivered a strong fourth‑quarter report that topped Wall Street expectations.

Earnings And Revenue Top Expectations

Argan posted fourth‑quarter earnings of $3.47 per diluted share, well above the consensus estimate of $1.96 and up from $2.22 a year ago. Revenue came in at $262.1 million, beating expectations of $255.3 million and rising 12.7% year‑over‑year.

For fiscal 2026, the company reported net income of $137.8 million, or $9.74 per diluted share, compared to $85.5 million, or $6.15 per share, in fiscal 2025. Full‑year revenue grew 8.1% to $944.6 million.

Margin Strength And Project Execution

Fourth‑quarter gross profit rose to $65.6 million, representing a 25% margin versus 20.5% in the same quarter last year. The improvement was driven by strong project execution, including early substantial completion at the Trumbull Energy Center. EBITDA increased to $56 million, up from $39.3 million a year ago.

Argan also ended the year with a record project backlog of $2.9 billion, more than double the $1.4 billion backlog reported at the end of fiscal 2025. The company added $2.5 billion in new contract value during the year.

Management Commentary

"Our record fourth-quarter performance capped a year of strong execution throughout fiscal 2026, driving record top and bottom‑line performance for the full year," said president and CEO David Watson. He added that Argan's long‑standing customer relationships and experience building large‑scale power facilities position the company well to benefit from rising demand for reliable energy infrastructure.

Balance Sheet And Dividend Update

Argan ended the year with $895 million in cash, cash equivalents and investments, up from $525.1 million a year earlier, and continues to operate with no debt. The company also raised its quarterly dividend to 50 cents per share, up from approximately 37 cents last year.

AGX Price Action: Argan shares were up 29.73% at $533.00 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro.

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