Argan(US:AGX)2024-06-06 20:12Financial Performance - Argan reported consolidated revenues of $157.7 million for Q1 FY2025, a 52.1% increase from $103.7 million in Q1 FY2024[2] - The company achieved a net income of $7.9 million, or $0.58 per diluted share, compared to $2.1 million, or $0.16 per diluted share, in the prior year[9] - EBITDA for the quarter increased to $11.9 million, representing a 225.8% increase from $3.6 million in the same quarter last year[3] - Gross profit was approximately $17.9 million, with a gross margin of 11.4%, down from 13.7% in the previous year[6] - Other income for the quarter was $4.8 million, primarily from invested funds[8] Project Backlog and Growth - The project backlog at the end of the quarter was $824 million, including over $300 million in renewable projects[4] - Argan's revenue growth was driven by projects such as the Trumbull Energy Center and the Midwest Solar and Battery Projects[5] Expenses and Liquidity - Selling, general and administrative expenses increased to $11.4 million, but as a percentage of revenues, they decreased to 7.2% from 10.2% year-over-year[7] - Cash, cash equivalents, and investments totaled $416.4 million as of April 30, 2024, up from $412.4 million at the end of January 2024[10] - The company maintained net liquidity of $246.7 million, with no debt reported[10]