On September 3, Argan rose 9.73% in pre-market trading, trading at approximately $444.5/share, with turnover of $41,800. The surge was driven by the company's fiscal second-quarter earnings report released after the prior session's close, which significantly exceeded Wall Street expectations across all key metrics.
Specifically, Argan reported fiscal Q2 revenue of $384 million, up 61.5% year-over-year and far surpassing the analyst consensus estimate of approximately $301 million. Adjusted earnings per share came in at $3.76, representing a 50.4% year-over-year increase and beating the consensus estimate of $2.64 by roughly 42%. This marks the second consecutive quarter of substantial outperformance, following the fiscal Q1 report in June where EPS of $3.24 beat estimates of $2.31 and revenue of $291 million topped the expected $256 million.
Notably, shares had declined approximately 5% in the regular session ahead of the earnings release, reflecting market uncertainty over whether elevated expectations could be sustained. The company's project backlog stands at approximately $2.9 billion, and management has expanded its share repurchase program while maintaining its quarterly dividend of $0.50 per share, reinforcing fundamental support.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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