Argan Inc. reported first-quarter 2026 sales of $290.95 million. Net income reached $46.06 million for the period.
The company's project backlog more than doubled to $2.90 billion. Surging demand for AI-related data centers and infrastructure projects fueled this growth. Argan also declared a regular quarterly dividend of $0.50 per share.
Argan's stock fell 9.5% on June 12, 2026. Investors signaled concern over risks associated with the concentration of large, complex projects. Potential delays or disruptions in key projects could significantly impact future earnings.