Filing Flows › Industrials › Argan (AGX)
Argan (AGX) earnings and revenue breakdown
Latest: Q2 FY27 · 10-Q filed Sep 2, 2026 · Argan (AGX) Q2 FY27 earnings results →
Q2 FY27 Revenue up 62% year over year to $384M · 14¢ of every $1 of revenue kept as net profit · operating margin 14.8%
Argan made $384M in Q2 FY27 (+62% Y/Y). Operating margin 14.8%, net earnings $53.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 2, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $384.0M in Q2 FY27, up 62% year over year and up 32% from the previous quarter.
Gross margin was 19.3%, up 0.7 points from Q2 FY26. Operating profit was $56.8M, a 14.8% margin (up 2.2 points year over year). Of the extra revenue versus Q2 FY26, 18% reached operating profit, above the 13% margin then. Operating expenses grew 23% against revenue growth of 62%. Net earnings were $53.3M, up 51% year over year. The effective tax rate was 20.3%.
Operating cash flow was $97.0M (up 180% year over year), 182% of net earnings. Non-cash charges added back $720K of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $40.5M. Capital expenditures of $5.3M left free cash flow of $91.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 FY27 | 10-Q | Sep 2, 2026 | $384M | +62% | 14.8% | $53.3M | $97.0M |
| Q1 FY27 | 10-Q | Jun 4, 2026 | $291M | +50% | 15.6% | $46.1M | $113M |
| Q4 FY26 | 10-K | Mar 26, 2026 | $262M | +13% | 18.2% | $49.2M | $172M |
| Q3 FY26 | 10-Q | Dec 4, 2025 | $251M | -2% | 13.0% | $30.7M | $172M |
| Q2 FY26 | 10-Q | Sep 4, 2025 | $238M | +5% | 12.6% | $35.3M | $34.6M |
| Q1 FY26 | 10-Q | Jun 4, 2025 | $194M | +23% | 12.6% | $22.6M | $35.3M |
| Q4 FY25 | 10-K | Mar 27, 2025 | $232M | +41% | 14.1% | $31.4M | $44.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Argan
Argan, Inc. (“Argan”) is primarily an engineering and construction firm that conducts its operations through its wholly-owned subsidiaries across three distinct reportable business segments: Power, Industrial, and Teledata. Argan and these consolidated subsidiaries are hereinafter collectively referred to as the “Company.” Through the Power segment, we provide a full range of engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The customers include primarily independent power producers, public utilities, power plant equipment suppliers and other commercial firms with significant power requirements. Customer projects are located in the United States (the “U.S.”), the Republic of Ireland (“Ireland”) and the United Kingdom (the “U.K.”).
In its own words, from its 10-K, filed Mar 26, 2026.
Argan against its Construction - Special Trade Contractors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +62% against the peers' median +13%. Operating margin: 14.8% against the peers' median 6.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AGX Argan | Q2 FY27 | $384M | +62% | 14.8% |
| LGN Legence | Q2 2026 | $1.3B | +111% | -0.5% |
| RUN Sunrun | Q3 2026 | $1.1B | +52% | 14.0% |
| AMRC Ameresco | Q2 2026 | $515M | +9% | 8.6% |
| LMB Limbach Holdings | Q3 2026 | $230M | +25% | 6.5% |
| MTRX Matrix Service | Q1 FY27 | $219M | +4% | 2.0% |
| BBCP Concrete Pumping Holdings | Q3 FY26 | $117M | +13% | 12.9% |
| SPWR SunPower | Q2 2026 | $54.9M | -17% | -42.8% |
| CETX Cemtrex | Q3 FY26 | $18.4M | +9% | -6.5% |
Source: Argan 10-Q on SEC EDGAR · CIK 100591 · Construction - Special Trade Contractors
13F: who owns AGX and who is buying
More on AGX
History
Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results