Argan, Inc. (NYSE:AGX) Q4 2025 Earnings Conference Call March 27, 2025 5:00 PM ET Company Participants Jennifer Belodeau - IMS Investor Relations David Watson - Chief Executive Officer Joshua Baugher - Chief Financial Officer Conference Call Participants Chris Moore - CJS Securities Rob Brown - Lake Street Capital Operator Good evening, ladies and gentlemen, and welcome to the Argan, Inc. Earnings Release Conference Call for the Fiscal Fourth Quarter and year ended January 31, 2025. This call is being recor ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the Fiscal Year Ended January 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to Commission File Number 001-31756 ARGAN, INC. (Exact Name of Registrant as Specified in its Charter) | Delaware | 13-1947195 | | --- | --- | | (State or Other ...

Argan, Inc. Reports Fourth Quarter and Fiscal Year 2025 Results March 27, 2025 – ARLINGTON, VA – Argan, Inc. (NYSE: AGX) ("Argan" or the "Company") today announces financial results for its fourth quarter and fiscal year ended January 31, 2025. The Company will host an investor conference call today, March 27, 2025, at 5:00 p.m. ET. Consolidated Financial Highlights ($ in thousands, except per share data) | For the Quarter Ended: | January 31, | | | | --- | --- | --- | --- | | | 2025 | 2024 | Change | | Rev ...

Group 1 - Argan, Inc. (NYSE: AGX) operates in the construction and engineering segments, primarily providing infrastructure for energy companies [1] - The previous analysis of AGX in September resulted in a buy rating [1] - The company has a beneficial long position in its shares through various financial instruments [1]

Core Insights - The article highlights Steven Cress's role as VP of Quantitative Strategy and Market Data at Seeking Alpha, emphasizing his contributions to the platform's quantitative stock rating system and analytical tools designed to assist investors in making informed decisions [1][2]. Group 1: Company Overview - Seeking Alpha has developed a quantitative stock rating system that interprets data for investors, aiming to save time and provide insights on investment directions [1]. - The platform offers a systematic stock recommendation tool called Alpha Picks, which is designed for long-term investors to build a high-quality portfolio [1]. Group 2: Leadership and Experience - Steven Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, positioning him as an expert in various investment topics [4]. - Prior to joining Seeking Alpha, Cress founded CressCap Investment Research, which was acquired by Seeking Alpha in 2018, and he also established the quant hedge fund Cress Capital Management [3]. Group 3: Investment Philosophy - Cress is dedicated to eliminating emotional biases from investment decisions by employing a data-driven approach that utilizes sophisticated algorithms and technologies [2]. - The investment research process is simplified through a daily updated grading system for stock trading recommendations, making it more accessible for investors [2].

Steven Cress Background and Expertise - Steven Cress is the VP of Quantitative Strategy and Market Data at Seeking Alpha, responsible for creating the platform's quantitative stock rating system and analytical tools [1] - He is the Founder and Co-Manager of Alpha Picks, a systematic stock recommendation tool aimed at helping long-term investors build high-quality portfolios [1] - Steven Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, making him a seasoned expert in investment topics [4] Data-Driven Investment Approach - Steven Cress emphasizes removing emotional biases from investment decisions by utilizing a data-driven approach [2] - He leverages sophisticated algorithms and technologies to simplify complex investment research, offering a daily updated grading system for stock trading recommendations [2] Career History and Achievements - Steven Cress was the Founder and CEO of CressCap Investment Research, which was acquired by Seeking Alpha in 2018 for its exceptional quantitative analysis and market data capabilities [3] - Prior to CressCap, he founded the quant hedge fund Cress Capital Management and held significant roles at Morgan Stanley and Northern Trust, including running a proprietary trading desk and leading international business development [3]

Project Backlog and Revenues - Consolidated project backlog as of October 31, 2024, was $0.8 billion, primarily from the power industry services segment[113] - Approximately 60.0% of the project backlog at October 31, 2024, related to renewable energy projects[115] - Revenues from renewable energy projects accounted for 42.7% and 38.7% of power industry services segment revenues for the three and nine months ended October 31, 2024, respectively[115] - TRC's project backlog decreased to $66.4 million as of October 31, 2024, from $127.5 million on January 31, 2024, but revenues increased to $134.7 million for the nine months ended October 31, 2024, compared to $101.5 million in the prior year[130] Project Completion and Development - The 405 MW Midwest Solar Project is scheduled for completion in the first half of fiscal year 2027[119] - The Trumbull Energy Center, a 950 MW natural gas-fired power plant, is expected to be completed in the last quarter of fiscal 2026[120] - The Midwest Solar and Battery Projects, totaling 160 MW of electrical power and 22 MW of energy storage, are expected to be completed between the last quarter of fiscal 2025 and the first half of fiscal 2026[121] - The Louisiana LNG Facility project, involving the installation of five 90 MW gas turbines, is scheduled for completion in fiscal 2026[122] - The Shannonbridge Power Project, with a capacity of 264 MW, achieved substantial completion in March 2024[123] - The ESB FlexGen Peaker Plants, totaling 195 MW, achieved substantial completion during the quarter ended October 31, 2024[124] Renewable Energy and Electricity Generation - Utility-scale solar and wind facilities provided 12%, 13%, and 15% of U.S. electricity generation in 2021, 2022, and 2023, respectively[137] - 71% of the 62.8 gigawatts of new utility-scale electric-generating capacity planned for 2024 is expected to come from solar and wind facilities[138] - The Irish government aims to generate 80% of the country's electricity from renewables by 2030, requiring new support technologies and conventional generation[156] - The U.K. government, under Prime Minister Keri Starmer, is accelerating the transition to renewable energy while acknowledging the role of gas as a transitional fuel[157] Financial Performance - Consolidated revenues for the three months ended October 31, 2024, increased by 56.9% to $257.0 million compared to $163.8 million in the same period in 2023[164] - Power industry services revenues increased by 74.9% to $212.1 million for the three months ended October 31, 2024, driven by increased construction activities[165] - Industrial Construction Services segment revenue increased by $2.9 million (7.6%) to $41.3 million for the three months ended October 31, 2024, compared to $38.4 million in the same period last year[168] - Telecommunications Infrastructure Services segment revenue decreased by $0.4 million (11.1%) to $3.6 million for the three months ended October 31, 2024[169] - Consolidated cost of revenues increased by 47.2% to $212.7 million for the three months ended October 31, 2024, compared to $144.5 million in the same period last year[170] - Consolidated gross profit increased to $44.3 million (17.2% of revenues) for the three months ended October 31, 2024, up from $19.2 million (11.7% of revenues) in the same period last year[171][172] - Net income for the three months ended October 31, 2024, was $28.0 million ($2.00 per diluted share), compared to $5.5 million ($0.40 per diluted share) in the same period last year[179] - Consolidated revenues for the nine months ended October 31, 2024, increased by $232.9 million (57.0%) to $641.7 million, compared to $408.8 million in the same period last year[180] - Power Industry Services segment revenue increased by $199.3 million (67.1%) to $496.1 million for the nine months ended October 31, 2024, compared to $296.8 million in the same period last year[181] - Consolidated gross profit for the nine months ended October 31, 2024, was $93.4 million (14.6% of revenues), up from $57.2 million (14.0% of revenues) in the same period last year[188] - Net income for the nine months ended October 31, 2024, was $54.1 million ($3.91 per diluted share), compared to $20.3 million ($1.50 per diluted share) in the same period last year[196] - EBITDA for the three months ended October 31, 2024, was $37.5 million, compared to $12.2 million for the same period in 2023[215] - EBITDA for the nine months ended October 31, 2024, was $74.2 million, compared to $33.8 million for the same period in 2023[217] Liquidity and Investments - Cash and cash equivalents decreased by $21.7 million to $175.3 million as of October 31, 2024, compared to $197.0 million as of January 31, 2024[197] - Net liquidity increased by $36.1 million to $281.0 million as of October 31, 2024, compared to $244.9 million as of January 31, 2024[202] - Total investments in CDs, U.S. Treasury notes, and corporate debt securities amounted to approximately $330.9 million as of October 31, 2024[201] - The New Credit Agreement reduces the base lending commitment from $50.0 million to $35.0 million and includes an accordion feature allowing for an additional $30.0 million[203] Obligations and Guarantees - The company's unsatisfied bonded performance obligations were approximately $0.3 billion as of October 31, 2024[210] - Outstanding bonds covering warranty obligations and contract payment retentions were $22.9 million as of October 31, 2024[210] - The company made a final $3.3 million cash payment to a solar tax credit entity during the nine months ended October 31, 2024[212] - The company provided a financial guarantee of up to $3.6 million in support of business development efforts[211] Regulatory and Market Conditions - The Vogtle Units 3 and 4 nuclear reactors entered commercial operations in July 2023 and April 2024, respectively, with costs more than twice initial estimates[139] - The Inflation Reduction Act of 2022 includes tax subsidies conditioned on "buy American" and prevailing wage requirements, potentially limiting economic incentives[140] - The EPA issued final rules requiring coal-fired power plants operating beyond 2039 to reduce carbon emissions by 90% by 2032[143] - PJM's capacity auction for the 2025/2026 delivery year resulted in a price of $269.92/MW-day, a significant increase from the previous auction's $28.92/MW-day[152]

Exhibit 99.1 Argan, Inc. Reports Third Quarter Fiscal 2025 Results December 5, 2024 – ROCKVILLE, MD – Argan, Inc. (NYSE: AGX) ("Argan" or the "Company") today announces financial results for its third quarter of fiscal year 2025 ended October 31, 2024. The Company will host an investor conference call today, December 5, 2024, at 5:00 p.m. ET. Consolidated Financial Highlights ($ in thousands, except per share data) | --- | --- | --- | --- | --- | |--------------------------------|----------------|-------|-- ...

Times have been very interesting for energy infrastructure company Argan, Inc. (NYSE: AGX ) and its investors. You see, back in August 2023, I wrote a bullish article about the company. Because of the firm's strongCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E& ...

Now retired, I am an income-oriented investor seeking high yield income to support my lifestyle in retirement.I became deeply interested in the stock market beginning in late 2007 (bad timing for me but worse for my uncle) when I received an unexpected inheritance. Since that time I have done considerable research and vowed to make smarter long-term investing decisions after suffering through the Great Recession with minimal losses to my inherited portfolio, after firing my financial advisor.I look for most ...