Filing Flows › Argan (AGX) › Q2 FY26
Argan (AGX) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 4, 2025
Argan (AGX) reported revenue of $238M for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +23% from the quarter before. Operating margin was 12.6%, net earnings $35.3M (14.8% of revenue).
Argan, Q2 FY26: revenue $238M (+5% year over year), operating margin 12.6%, net earnings $35.3M, operating cash flow $34.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $238M | +23% | +5% |
| Gross profit | $44.3M | +20% | +42% |
| Operating profit | $30.1M | +23% | +61% |
| Net earnings | $35.3M | +56% | +94% |
| Operating cash flow | $34.6M | -2% | -53% |
| Free cash flow | $32.9M | -6% | -54% |
What changed
Revenue was $237.7M in Q2 FY26, up 5% year over year and up 23% from the previous quarter.
Gross margin was 18.6%, up 4.9 points from a year earlier. Operating profit was $30.1M, a 12.6% margin (up 4.4 points year over year). Of the extra revenue versus a year earlier, 106% reached operating profit, above the 8% margin then. Operating expenses grew 14% against revenue growth of 5%. Net earnings were $35.3M, up 94% year over year. The effective tax rate was 1.0%.
Operating cash flow was $34.6M (down 53% year over year), 98% of net earnings. Non-cash charges added back $589K of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $3.6M. Capital expenditures of $1.7M left free cash flow of $32.9M.
Questions
What was Argan's revenue in the second quarter fiscal 2026?
Argan (AGX) reported revenue of $238M for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +23% from the quarter before.
Was Argan profitable in the second quarter fiscal 2026?
Operating profit was $30.1M (12.6% of revenue) and net earnings $35.3M.
Source: Argan 10-Q on SEC EDGAR.