Argan(US:AGX)2024-04-11 22:42Financial Performance - Consolidated revenues increased by 38.5% in Q4 and 26.0% for Fiscal Year 2024[4] - Power Industry Services Q4 revenues increased 32.6%; FY revenues grew 20.3%[4] - Industrial Construction Services Q4 revenues increased 64.5%; FY revenues grew 53.9%[4] - Earnings per diluted share were $0.89 for Q4 and $2.39 for FY[4] - The company repurchased 303,160 shares of common stock at a cost of $12.5 million during FY 2024[4] - Quarterly dividend increased 20% during the year to $0.30 per common share, totaling $1.10 per share for FY 2024[4] Backlog and Projects - The company has a healthy backlog of $0.8 billion, including new gas & renewable project agreements awarded subsequent to year end[4] - Gemma Power Services is executing an EPC services contract for a 950 MW natural gas-fired power plant in Lordstown, Ohio[14] - Solar and battery plants in Illinois will represent 160 MW of electrical power and 22 MW of energy storage[15] Market and Strategy - AI power demand is projected to grow at an annual average of 70% through 2027[12] - Argan is positioned to support the growth in electricity demand, with recent forecasts indicating a 4.7% rise in US electricity demand over the next five years[37] - Since November 2021, Argan has returned a total of $101.2 million to shareholders through share repurchases and dividends[32]