Argan(US:AGX)2025-06-05 08:11Financial Highlights - Consolidated Q1 revenues increased by 23% year-over-year[4] - Q1 earnings per diluted share reached $1.60, an increase of $1.02 year-over-year[4] - Q1 EBITDA totaled $30 million, representing 15.6% of revenue[4] - Gross margin was 19% in Q1[4] Project Backlog - Record project backlog of $1.9 billion as of April 30, 2025[4] - Q1 backlog additions included a 1.2 GW ultra-efficient natural gas-fired project[4] - Natural gas projects constitute 67% of the backlog, while renewable projects account for 28%[19] - Industrial projects make up 5% of the backlog[19] Market Drivers and Growth Strategy - AI power demand is projected to grow at an annual average of 70% through 2027[13] - EV adoption is projected to grow 20-fold by 2040, increasing the average total annual EV load in the U S to 468,000 GWh from 24,000 GWh in 2023[15] - Companies have committed $525 billion towards the construction of factories making semiconductors, microchips, batteries, and solar panels since 2021[17]