Argan (AGX) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended July 31, 2026 and Argan published the results on September 2, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Argan's fiscal year ends January 31. Q2 fiscal 2027 is the three months ended July 31, 2026.
• Argan reports no adjusted EPS. Its one non-GAAP measure is Adjusted EBITDA, which also excludes stock-based compensation.
• Argan acquired ValCor Communications on July 31, 2026, the last day of the quarter, so ValCor contributed no revenue to Q2.

Source: Argan Q2 fiscal 2027 results, September 2, 2026. Also in the Form 10-Q for the quarter ended July 31, 2026. Figures as reported; checked against the release on November 10, 2026.

How Argan splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Argan's Power revenue was $301 million in Q2 fiscal 2027, up 53% from $197 million in Q2 fiscal 2026, 78% of total revenue.
• Argan's Industrial revenue was $76.2 million in Q2 fiscal 2027, up 111% from $36.1 million in Q2 fiscal 2026, 20% of total revenue.
• Argan's Teledata revenue was $6.6 million in Q2 fiscal 2027, up 39% from $4.7 million in Q2 fiscal 2026, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Argan's fiscal year ends January 31.

Argan's next report is expected around December 3, 2026, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Sep 2, 2026

Argan's revenue is construction contracts, mostly for power plants. Its Power segment (Gemma Power Systems and Atlantic Projects Company) builds natural gas-fired and renewable plants under engineering, procurement and construction contracts; Industrial (The Roberts Company) does field services and vessel fabrication; Teledata (SMC Infrastructure Solutions) installs communication and data networks. Most revenue is earned under fixed-price contracts, with most of the rest on time-and-material terms. (Argan Q2 fiscal 2027 release, Sep 2, 2026; Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026)

Argan's Q2 fiscal 2027 revenue was $384.0 million, up 61.5% from $237.7 million. Power revenue rose 52.9% to $301.2 million, which the 10-Q attributes to more construction on the 1.4 GW Thermal Project, the 700 MW Combined-Cycle Project, the 1.2 GW Power Station and the 860 MW Thermal Project. A year earlier the main drivers had been the 405 MW Midwest Solar Project, the Midwest Solar and Battery Projects and the Trumbull Energy Center. (Argan Q2 fiscal 2027 release, Sep 2, 2026; Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026)

Argan's Industrial revenue more than doubled, up 111.2% to $76.2 million, as field services and vessel fabrication work increased; Industrial was 19.8% of revenue, against 15.2%. A new fabrication plant in Farmville, North Carolina, built for a contract to fabricate about 2,000 pressure vessels for data center cooling systems, is expected to be completed in Q3 fiscal 2027. Teledata revenue was $6.6 million. (Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026; Argan Q2 fiscal 2027 release, Sep 2, 2026)

Argan's revenue is concentrated in a few large projects. Four Power customers accounted for 15%, 15%, 13% and 13% of Q2 revenue. By project location, the United States contributed $323.7 million, the Republic of Ireland $42.8 million and the United Kingdom $17.6 million; the Irish and UK work is in the Power segment. (Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026)

Argan's project backlog was about $2.5 billion at July 31, 2026, against $2.9 billion at January 31, 2026, and consisted substantially of Power projects. Argan typically adds a contract to backlog when the owner issues a notice to proceed. (Argan Q2 fiscal 2027 release, Sep 2, 2026; Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026)

Argan earned $53.3 million, or $3.76 per diluted share, in Q2 fiscal 2027, against $35.3 million, or $2.50, a year earlier. Gross margin rose to 19.3% from 18.6%, which the release attributes to project and contract mix and execution in Power, partly offset by weaker performance on some Industrial and Teledata projects. Power's gross margin was 22%. Argan reports no adjusted EPS. (Argan Q2 fiscal 2027 release, Sep 2, 2026)

Argan's EPS grew more slowly than pretax income (up 87.7%) because of tax. The effective tax rate was 20.3%, against 1.0% a year earlier, when tax benefits from stock option exercises and share-based award settlements cut the provision to $0.4 million. Other income, mostly investment income, was $10.1 million, against $5.6 million, on cash, cash equivalents and investments of $1.03 billion and no debt. (Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026; Argan Q2 fiscal 2027 release, Sep 2, 2026)

Argan's diluted weighted average share count was 14,164 thousand, against 14,131 thousand a year earlier. In the six months to July 31, 2026 it bought back 17,717 shares for about $9.6 million, at $544.62 a share, and the board raised the repurchase authorization by $50 million to $200 million in April 2026. The quarterly dividend was $0.500 per share, up from $0.375. (Argan Q2 fiscal 2027 release, Sep 2, 2026; Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Argan's Q2 fiscal 2027 release gives no revenue or earnings outlook. The forward-looking figures in the filings are backlog of about $2.5 billion and project completion dates: the 405 MW Midwest Solar Project is expected to reach substantial completion in the quarter ending October 31, 2026, the 1.2 GW Power Station and the 860 MW Thermal Project in calendar 2028, and the 1.4 GW Thermal Project in calendar 2029. (Argan Q2 fiscal 2027 release, Sep 2, 2026; Argan Form 10-Q, Q2 fiscal 2027, Sep 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Argan, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Argan's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AGX is on is AGX a buy or a sell?, what analysts expect next is on the AGX forecast, and what the company does is on the Argan (AGX) stock page.

Every number on this page can be traced to a document Argan published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.