ARGAN INCAGXEarnings & Financial Report
Argan Inc. is a diversified holding company that provides comprehensive engineering, construction, project management and consulting services. Its core operating segments focus on power generation, telecommunications, industrial infrastructure and renewable energy projects, primarily serving public and private sector clients across North America.
Revenue
$257.0M
Gross Profit
$44.3M
Operating Profit
$30.3M
Net Profit
$28.0M
Gross Margin
17.2%
Operating Margin
11.8%
Net Margin
10.9%
YoY Growth
56.9%
EPS
$2.00
Financial Flow
ARGAN INC Q3 2025 Financial Summary
ARGAN INC reported revenue of $257.0M (up 56.9% YoY) for Q3 2025, with a net profit of $28.0M (up 412.6% YoY) (10.9% margin). Cost of goods sold was $212.7M, operating expenses totaled $14.0M.
Key Financial Metrics
| Total Revenue | $257.0M |
|---|---|
| Net Profit | $28.0M |
| Gross Margin | 17.2% |
| Operating Margin | 11.8% |
| Report Period | Q3 2025 |
Revenue Breakdown
ARGAN INC Q3 2025 revenue of $257.0M breaks down across 3 segments, led by Power Industry Services at $212.1M (82.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Power Industry Services | $212.1M | 82.5% |
| Industrial Construction Services | $41.3M | 16.1% |
| Telecommunications Infrastructure Services | $3.6M | 1.4% |
ARGAN INC Revenue by Segment — Quarterly Trend
ARGAN INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Power Industry Services and Industrial Construction Services) has evolved quarter over quarter.
| Segment | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 |
|---|---|---|---|---|
| Power Industry Services | $195.5M | $196.9M | — | $196.9M |
| Industrial Construction Services | $49.4M | $36.1M | — | — |
| Telecommunications Infrastructure Services | $6.3M | $4.7M | — | $2.6M |
ARGAN INC Annual Revenue by Year
ARGAN INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $874.2M).
| Year | Annual Revenue |
|---|---|
| 2025 | $874.2M |
| 2024 | $573.3M |
| 2023 | $455.0M |
| 2022 | $509.4M |
ARGAN INC Quarterly Revenue & Net Profit History
ARGAN INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 2026 | $251.2M | -2.3% | $30.7M | 12.2% |
| Q2 2026 | $237.7M | +4.7% | $35.3M | 14.8% |
| Q1 2026 | $193.7M | +22.8% | $22.6M | 11.6% |
| Q4 2025 | $232.5M | +41.3% | $31.4M | 13.5% |
| Q3 2025 | $257.0M | +56.9% | $28.0M | 10.9% |
| Q2 2025 | $227.0M | +60.6% | $18.2M | 8.0% |
| Q1 2025 | $157.7M | +52.1% | $7.9M | 5.0% |
| Q4 2024 | $164.6M | +38.5% | $12.0M | 7.3% |
Income Statement
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $164.6M | $157.7M | $227.0M | $257.0M | $232.5M | $193.7M | $237.7M | $251.2M |
| YoY Growth | 38.5% | 52.1% | 60.6% | 56.9% | 41.3% | 22.8% | 4.7% | -2.3% |
Balance Sheet
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $598.2M | $624.4M | $726.6M | $768.9M | $836.2M | $792.2M | $882.7M | $1.05B |
| Liabilities | $307.3M | $331.3M | $418.5M | $440.2M | $484.4M | $428.3M | $489.5M | $631.2M |
| Equity | $290.9M | $293.2M | $308.1M | $328.7M | $351.9M | $363.9M | $393.2M | $419.7M |
Cash Flow
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $24.6M | $17.7M | $73.5M | $31.8M | $44.6M | $35.3M | $34.6M | $172.5M |