Argan (NYSE:AGX) shares rose 9.4% in premarket trading after the engineering and construction company reported fiscal second-quarter earnings and revenue above analyst expectations.
For the quarter ended July 31, 2026, Argan reported adjusted earnings per share of $3.76, compared with the Wall Street consensus estimate of $2.66.
Quarterly revenue reached a record $384 million, an increase of 62% from the prior-year period and above analyst estimates of approximately $299 million. The premarket increase followed gains in after-hours trading on Wednesday following the release of the results.
Power Segment Revenue Reaches $301 Million
Argan’s power segment generated $301 million in revenue during the quarter, representing 78% of total sales and an increase of 53% from the same period a year earlier.
Gross margin in the segment increased to 19.3% from 18.6% in the prior-year period.
The company’s industrial services division also recorded revenue growth of 11%.
Project Backlog Stands at $2.8 Billion
Argan reported a project backlog of $2.8 billion, representing contracted work across its operations.
The source material identified power-generation infrastructure as a significant area within the company’s project pipeline and noted demand associated with data-centre construction and energy-transition projects.
Argan Shares Gain in Premarket Trading
The broader US equity market showed limited movement, with the S&P 500 broadly unchanged, the Dow Jones slightly higher and the Nasdaq marginally lower.
Ahead of the quarterly report, analysts covering Argan held a consensus “Buy” rating on the shares, according to the source material.
Argan’s 9.4% premarket gain extended the share-price increase that began in after-hours trading following Wednesday’s results.
Argan stock price
