Argan, Inc. · NYSE:AGX
Argan — Q1 2027 Earnings Presentation
15 slides from Argan's earnings presentation, Jun 4, 2026
Slide 1: First Quarter Fiscal 2027 Results Presentation
First Quarter PRESENTATION Fiscal 2027 Results
Slide 2: Safe Harbor Statement
Safe Harbor Statement All statements in this presentation that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by words such as “believe,” “intend,” “expect,” “may,” “could,”
Slide 3: Q1 2027 Highlights
Q1 2027 Highlights • Record quarterly revenue of $291M; increase of 50% with gross margin of 21.0% • Earnings per diluted share of $3.24 in Q1, up $1.64 year over year • Adjusted EBITDA of $56.4M, or 19.4% as a percentage of revenue • Project backlog of $2.8B at April 30, 2026 • Solid balance sheet:
Slide 4: Business Segments
Business Segments Power Industrial Teledata 78% 20% 2% Q1 Revenues: $227M Q1 Revenues: $58M Q1 Revenues: $6M Pre-Tax Income: $52M Pre-Tax Income: $5M Pre-Tax Loss: $0.5M Financial information presented for quarter ended April 30, 2026 4
Slide 5: Growing Annual Backlog
Growing Annual Backlog $2.9B $2.8B 3000 2500 2000 $1.4B $2.7B $ Millions $2.5B 1500 $0.8B 1000 $1.3B $626M 500 $253M $225M $128M $53M 0 $3M $4M $8M $8M FY 2024 FY 2025 FY 2026 1Q 2027 Teledata Industrial Power • Project backlog as of April 30, 2026, is fully committed by customers and actively being
Slide 6: Enabling the Electrification of Everything
Enabling the Electrification of Everything Industry Drivers • Growing demand for reliable and affordable electricity driven by data centers, EVs, and Industrial manufacturing 8% • Massive infrastructure replacement needed as decades-old power assets require urgent Renewable upgrades or replacements
Slide 7: Strong Backlog Composition
Strong Backlog Composition Project Estimated Business Segment Project Description Location Size Start Completion CPV Basin Ranch Energy Full notice to proceed on 2-1x1 combined-cycle Texas 1,350 MW 2025 2029 Center power plant Sandow Lakes Power Full notice to proceed on ultra-efficient combined- Te
Slide 8: Consolidated Financial Results
Consolidated Financial Results Three Months Ended April 30, 2026 2025 Revenues $291 $194 Gross Profit $61 $37 Gross margin % 21.0% 19.0% SG&A $16 $13 Net Income $46 $23 Diluted earnings per share $3.24 $1.60 Adjusted EBITDA $56 $31 Adjusted EBITDA as a % of revenue 19.4% 16.3% Cash dividends per sha
Slide 9: Further Strengthening Balance Sheet
Further Strengthening Balance Sheet $1,000 $974 $895 $900 $800 $727 $700 $572 $ in Millions $600 $546 $525 $506 $485 $500 $462 $474 $416 $420 $421 $421 $393 $377 $400 $352 $364 $329 $344 $308 $301 $315 $293 $281 $300 $260 $247 $200 $100 $0 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 Net liquidity S
Slide 10: Fiscal Q1 2027 Net Liquidity Bridge
Fiscal Q1 2027 Net Liquidity Bridge Flexible business model with minimal capital expenditures $500 $46.1 Given the variability of $450 $421.0 ($12.1) ($7.0) $421.4 our cash balance due to $400 ($26.6) prepayments and the $350 cash flow cycle of our Operations Return of Capital long-term projects, we
Slide 11: Disciplined Capital Allocation
Disciplined Capital Allocation Invest in organic growth - Strategically increasing headcount to meet demand and staff projects appropriately - Constructing new fabrication facility within Industrial segment to address demand Paid quarterly dividend $0.50 per common share during 1Q27 - Annual dividen
Slide 12: Outlook
Outlook • Partner of choice for innovative energy solutions as demand on power grid intensifies • Backlog of diversified projects positions the Company for continued growth • Proven track record of exceptional execution; disciplined risk management • Electrification of everything, AI data center nee
Slide 13: Q&A
Q&A
Slide 14: Appendix
APPENDIX
Slide 15: Reconciliation of Consolidated Net Income to Adjusted EBITDA
Reconciliation of Consolidated Net Income to Adjusted EBITDA Three Months Ended April 30, ($ in thousands) 2026 2025 Revenues $290,954 $193,660 Net income, as reported $46,063 $22,550 Provision for income taxes 7,706 7,236 Depreciation 559 415 Amortization of intangible assets 75 98 EBITDA 54,403 30