Argan(US:AGX)2024-04-11 20:15Revenue Performance - Consolidated revenues for Q4 2024 were $164.6 million, an increase of $45.8 million, or 38.5%, compared to $118.8 million in Q4 2023[5] - For the fiscal year 2024, consolidated revenues reached $573.3 million, representing a 26.0% increase from $455.0 million in fiscal year 2023[13] - Revenues from power industry services increased by 20.3%, or $70.2 million, to $416.3 million for fiscal year 2024[11] - Industrial construction services revenues rose by $50.0 million, or 53.9%, to $142.8 million for fiscal year 2024[12] - Revenues for the three months ended January 31, 2024, increased to $164,554,000, up 38.6% from $118,778,000 in the same period of 2023[29] Profitability Metrics - Gross profit for Q4 2024 was approximately $23.6 million, or 14.4% of revenues, down from 16.9% in Q4 2023[6] - Gross profit for the fiscal year ended January 31, 2024, was $80,834,000, compared to $86,361,000 in 2023, reflecting a decrease of 6.0%[29] - Net income for Q4 2024 was $12.0 million, or $0.89 per diluted share, compared to $13.6 million, or $1.00 per diluted share in Q4 2023[10] - Net income attributable to stockholders of Argan, Inc. for the three months ended January 31, 2024, was $12,018,000, a decrease of 11.3% from $13,633,000 in the prior year[29] - EBITDA for fiscal year 2024 increased to $51.3 million from $48.1 million in fiscal year 2023[17] - EBITDA for the three months ended January 31, 2024, was $17,564,000, an increase of 37.5% from $12,833,000 in the same period of 2023[33] Financial Position - Cash and liquid investments totaled $412.4 million as of January 31, 2024, with net liquidity at $244.9 million[18] - Total assets as of January 31, 2024, were $598,229,000, up 22.3% from $489,487,000 in 2023[31] - Cash and cash equivalents increased to $197,032,000 as of January 31, 2024, compared to $173,947,000 in the previous year, representing an increase of 13.3%[31] - Total current liabilities rose to $302,260,000, an increase of 49.3% from $202,503,000 in 2023[31] Dividends and Shareholder Returns - The company declared a quarterly cash dividend of $0.30 per share, an increase of 20% from the previous $0.25 per share[19] - Cash dividends per share increased to $0.30 for the three months ended January 31, 2024, compared to $0.25 in the same period of 2023[29] - The company reported a comprehensive income attributable to stockholders of $13,071,000 for the three months ended January 31, 2024, compared to $15,809,000 in the prior year[29] Project Backlog - The project backlog as of January 31, 2024, was $757.0 million, up from $730.0 million at the end of Q3 2024[3] Share Count - The weighted average number of diluted shares outstanding decreased to 13,548,000 for the three months ended January 31, 2024, from 13,625,000 in the same period of 2023[29]