Latest news with #DavidWatson
Yahoo
2 days ago
- Business
- Yahoo
Why Argan Stock Crushed the Market Today
Argan blasted far past analyst estimates for first quarter of fiscal 2026 revenue and profitability. It also notched a new all-time high for project backlog. 10 stocks we like better than Argan › Construction and engineering services provider Argan (NYSE: AGX) was a big hit on the stock exchange Thursday, a direct result of the far better-than-expected quarterly results it posted the day before. Investors plowed into the company to give it an 8% lift on the day, providing a notable contrast to the S&P 500's (SNPINDEX: ^GSPC) 0.5% decrease. For its inaugural quarter of fiscal 2026, Argan's revenue came in at just under $193.7 million, a meaty 23% year-over-year increase. That was accompanied by a significant (36%) increase in project backlog, to a record level of almost $1.9 billion. Even better, net income under generally accepted accounting principles (GAAP) standards nearly tripled, landing at almost $22.6 million ($1.60) versus the less than $7.9 million of fiscal first quarter 2025. Both headline numbers absolutely obliterated the consensus analyst estimates. On average, pundits tracking Argan stock were modeling slightly below $176 million on the top line, and a per-share GAAP net income figure of $0.90. In the earnings release, Argan attributed its powerful gains largely to one key customer base. It quoted CEO David Watson as saying that the improvements came largely from "the energy industry's urgent response to the growing strain on our power grids related to the building of data centers, the onshoring of complex manufacturing, and an increasing amount of electric vehicle (EV) charging activity." Outperformance like this rarely escapes the notice of investors, so it was hardly surprising that they bid up Argan's shares after the earnings release was published. The trends driving the fundamentals well higher should remain in force for quite some time -- particularly the dynamic behind the data center demand, which is directly related to the rapid rise of artificial intelligence (AI) -- so this once under-the-radar stock should continue to be a solid play. Before you buy stock in Argan, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Argan wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Argan Stock Crushed the Market Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Argan, Inc. Reports First Quarter Fiscal 2026 Results
Company Reports Record Backlog of $1.9 Billion ARLINGTON, Va., June 04, 2025--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) ("Argan" or the "Company") today announces financial results for its first quarter of fiscal year 2026 ended April 30, 2025. The Company will host an investor conference call today, June 4, 2025, at 5:00 p.m. ET. Consolidated Financial Highlights ($ in thousands, except per share data) April 30, For the Quarter Ended: 2025 2024 Change Revenues $ 193,660 $ 157,682 $ 35,978 Gross profit 36,863 17,944 18,919 Gross margin % 19.0 % 11.4 % 7.6 % Net income $ 22,550 $ 7,882 $ 14,668 Diluted earnings per share 1.60 0.58 1.02 EBITDA 30,299 11,890 18,409 EBITDA as a % of revenues 15.6 % 7.5 % 8.1 % Cash dividends per share 0.375 0.300 0.075 April 30, January 31, As of: 2025 2025 Change Cash, cash equivalents and investments $ 546,457 $ 525,137 $ 21,320 Net liquidity (1) 315,127 301,443 13,684 Share repurchase treasury stock, at cost 114,018 105,643 8,375 Project backlog 1,856,000 1,361,000 495,000 (1) Net liquidity, or working capital, is defined as total current assets less total current liabilities. David Watson, President and Chief Executive Officer of Argan, commented, "Our first quarter results reflect a strong start to fiscal 2026, with consolidated revenue growth of 23% to $193.7 million, gross margin of 19.0%, significantly enhanced diluted earnings per share of $1.60, and EBITDA of $30.3 million. During the first quarter, we also received full notice to proceed for the Sandow Lakes Power Station, a 1.2 GW ultra-efficient combined-cycle natural gas-fired plant in Lee County, Texas, which increased our backlog to a record $1.9 billion as of April 30, 2025. "In addition to our record backlog, our project pipeline is robust, reflecting the energy industry's urgent response to the growing strain on our power grids related to the building of data centers, the onshoring of complex manufacturing, and an increasing amount of EV charging activity. These activities require a constant supply of high-quality, reliable energy. For the first time in decades, energy demand is rising, coinciding with the end of the operational lives for a significant portion of the aging natural gas energy facilities capable of providing reliable, 24/7 power. After several years of underinvestment, there is an immediate need for the development of new energy resources, and Argan's energy-agnostic capabilities and proven track record of success position us well as we compete for the construction of large and complex power generating facilities. "While we are excited about the number of opportunities we are seeing, we remain disciplined in our pursuit of profitable growth and committed to driving the best outcomes for the projects we take on. Argan is well positioned with the capabilities, financial flexibility, industry relationships and longstanding customer base to strengthen our leadership role as a partner of choice for the buildout of energy infrastructure." First Quarter Results Consolidated revenues for the quarter ended April 30, 2025 were $193.7 million, an increase of $36.0 million, or 23%, from consolidated revenues of $157.7 million reported for the comparable prior year quarter. The increase in the number of current projects and contract backlog has resulted in increased project activity and the related revenues compared to the prior year quarter. During the first quarter of fiscal 2026, several recently awarded gas-fired power plant projects were in their early stages of activity with limited revenues while the Company's mature projects continued to generate significant activity. For the quarter ended April 30, 2025, Argan's consolidated gross profit was $36.9 million, or 19.0% of consolidated revenues. The consolidated gross margin for the quarter reflects the changing mix of projects and contract types. Last year, during the first quarter ended April 30, 2024, gross profit was negatively impacted by a loss on an overseas project. Consolidated gross profit for the quarter ended April 30, 2024 was $17.9 million, or 11.4% of consolidated revenues. Selling, general and administrative expenses increased by $1.1 million to $12.5 million for the quarter ended April 30, 2025, from $11.4 million in the comparable prior year quarter. However, as a percentage of revenues, these expenses declined to 6.5% in the first quarter of fiscal 2026 as compared to 7.2% in the first quarter of fiscal 2025. Other income, net, for the three months ended April 30, 2025 was $5.4 million, which primarily reflected investment income earned during the period. During the quarter ended April 30, 2025, the Company recorded income tax expense of $7.2 million, primarily due to consolidated pre-tax book income of $29.8 million. For the comparable period last year, Argan recorded income tax expense of $3.4 million on pre-tax book income of $11.3 million. For the quarter ended April 30, 2025, Argan achieved net income of $22.6 million, or $1.60 per diluted share, compared to $7.9 million, or $0.58 per diluted share, for last year's first quarter. EBITDA for the quarter ended April 30, 2025 increased to $30.3 million compared to $11.9 million in the same quarter of last year. Argan maintained a substantial total balance of cash, cash equivalents and investments during the quarter. The total balances were $546.5 million and $525.1 million as of April 30, 2025 and January 31, 2025, respectively. Balance sheet net liquidity was $315.1 million at April 30, 2025 and $301.4 million at January 31, 2025; furthermore, the Company had no debt. Conference Call and Webcast Argan will host a conference call and webcast for investors today, June 4, 2025, at 5:00 p.m. ET. Domestic stockholders and interested parties may participate in the conference call by dialing (888) 506-0062 and international participants should dial (973) 528-0011; all callers shall use access code: 698123. The call and the accompanying slide deck will also be webcast at: The conference call and slide deck may also be accessed via the Investor Center section of the Company's website at Please allow extra time prior to the call to visit the site. A replay of the teleconference will be available until June 18, 2025, and can be accessed by dialing 877-481-4010 (domestic) or 919-882-2331 (international). The replay access code is 52474. A replay of the webcast can be accessed until June 4, 2026. About Argan Argan's primary business is providing a full range of construction and related services to the power industry. Argan's service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated industrial construction, fabrication and plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services. Non-GAAP Financial Measures The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States ("GAAP"). Within this press release, the Company makes reference to earnings before interest, taxes, depreciation and amortization ("EBITDA"), a non-GAAP financial measure. The Company believes that the non-GAAP financial measure described in this press release is important to management and investors because the measure supplements the understanding of Argan's ongoing operating results, excluding the effects of capital structure, depreciation, amortization, and income tax rates. The non-GAAP financial measure referred to above should be considered in conjunction with, and not as a substitute for, the GAAP financial information presented in this press release. Financial tables at the end of this press release provide a reconciliation of the non-GAAP financial measures to the comparable GAAP measures. Safe Harbor Statement Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company's future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, and the Company's ability to successfully complete the projects that it obtains. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company's SEC filings. ARGAN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except per share data) Three Months Ended April 30, 2025 2024 (Unaudited) REVENUES $ 193,660 $ 157,682 Cost of revenues 156,797 139,738 GROSS PROFIT 36,863 17,944 Selling, general and administrative expenses 12,521 11,425 INCOME FROM OPERATIONS 24,342 6,519 Other income, net 5,444 4,794 INCOME BEFORE INCOME TAXES 29,786 11,313 Income tax expense 7,236 3,431 NET INCOME 22,550 7,882 OTHER COMPREHENSIVE INCOME, NET OF TAXES Foreign currency translation adjustments 3,621 (790 ) Net unrealized gains (losses) on available-for-sale securities 2,680 (969 ) COMPREHENSIVE INCOME $ 28,851 $ 6,123 EARNINGS PER SHARE Basic $ 1.65 $ 0.59 Diluted $ 1.60 $ 0.58 WEIGHTED AVERAGE SHARES OUTSTANDING Basic 13,628 13,257 Diluted 14,112 13,572 CASH DIVIDENDS PER SHARE $ 0.375 $ 0.300 ARGAN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share data) April 30, January 31, 2025 2025 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 189,251 $ 145,263 Investments 357,206 379,874 Accounts receivable, net 106,499 175,808 Contract assets 30,358 28,430 Other current assets 54,763 51,925 TOTAL CURRENT ASSETS 738,077 781,300 Property, plant and equipment, net 14,512 14,463 Goodwill 28,033 28,033 Intangible assets, net 1,728 1,826 Deferred taxes, net — 552 Right-of-use and other assets 9,805 10,053 TOTAL ASSETS $ 792,155 $ 836,227 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 69,266 $ 97,297 Accrued expenses 69,891 83,319 Contract liabilities 283,793 299,241 TOTAL CURRENT LIABILITIES 422,950 479,857 Deferred taxes, net 667 — Noncurrent liabilities 4,643 4,513 TOTAL LIABILITIES 428,260 484,370 STOCKHOLDERS' EQUITY Preferred stock, par value $0.10 per share – 500,000 shares authorized; no shares issued and outstanding — — Common stock, par value $0.15 per share – 30,000,000 shares authorized; 15,828,289 shares issued; 13,638,569 and 13,634,214 shares outstanding at April 30, 2025 and January 31, 2025, respectively 2,374 2,374 Additional paid-in capital 165,598 168,966 Retained earnings 310,178 292,698 Treasury stock, at cost – 2,189,720 and 2,194,075 shares at April 30, 2025 and January 31, 2025, respectively (114,018 ) (105,643 ) Accumulated other comprehensive loss (237 ) (6,538 ) TOTAL STOCKHOLDERS' EQUITY 363,895 351,857 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 792,155 $ 836,227 ARGAN, INC. AND SUBSIDIARIES RECONCILIATION TO EBITDA (In thousands) (Unaudited) Three Months Ended April 30, 2025 2024 Net income, as reported $ 22,550 $ 7,882 Income tax expense 7,236 3,431 Depreciation 415 480 Amortization of intangible assets 98 97 EBITDA $ 30,299 $ 11,890 View source version on Contacts Company Contact: David Watson301.315.0027 Investor Relations Contacts: John Nesbett/Jennifer BelodeauIMS Investor Relations203.972.9200argan@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scottish Sun
4 days ago
- Business
- Scottish Sun
Celtic, Rangers and other top Premiership clubs lining up exclusive partnerships with lower-league SPFL teams
Scotland lags behind other comparable European countries when it comes to giving young players a chance PATHWAY Celtic, Rangers and other top Premiership clubs lining up exclusive partnerships with lower-league SPFL teams FIVE top Premiership clubs including Celtic and Rangers are working on establishing exclusive partnerships with teams lower down the SPFL pyramid, according to a report. It's understood the moves are backed by the SFA in the hope that they will lead to an increase in young homegrown players playing first team football. Advertisement 1 There have been talks behind the scenes at Hampden The new system of co-operation, as first reported by The Herald, has the long-term aim of improving the fortunes of the Scotland national team. And clubs will be able to go live with their agreements from June 16. It's understood that Celtic, Rangers, Aberdeen, Dundee United and Hearts are the five Premiership clubs who have been in talks with lower-league counterparts. Celtic have been talking to Queen's Park, Rangers are exploring a tie up with Raith Rovers, Dundee United are discussing a partnership with Montrose, Aberdeen are negotiating with Arbroath while Hearts (and Cove Rangers of League One) could potentially link up with Spartans. Advertisement The number of young players gaining minutes in the Scottish Premiership has nosedived recently - and the figures weren't exactly great before. A study in 2024 revealed that Scotland lagged behind comparable nations when it came to giving under-21 players first team football. In the 2023/24 season, the likes of Belgium (21.8%), Norway (11.4%), the Netherlands (8.8%) outscored Scotland (3.2%) by a stretch. France (8%), Spain (4%) Portugal (3.9%) all scored higher too but if we look at more comparable countries again, Austria did better in this regard (6.6%), as did Czechia (5.9%) and Switzerland (5.5%). Advertisement Last year, if it wasn't for the likes of Lennon Miller at Motherwell and David Watson at Kilmarnock, that figure would surely have plummeted. Indeed St Mirren offered just 0.8% of their first team minutes to players under 21. Dundee had the highest rate with 24.8%. What next for Rangers after American takeover is confirmed? It's understood the agreements will allow the top clubs to send a maximum of three players on loan to their partners and they MUST be eligible for the Scotland national team. In contrast with loans, these 'co-operation list' agreements will allow for players to move between their parent club and their loan club during the season rather than being fixed to their loan side. Advertisement The Premiership outfit in questions will pay the player's full wage and at any time they can recall said player, and send another. The partner clubs in the Championship, League One or League Two will be allowed to take a maximum of two other players from their parent club who are not 21 and under or Scottish. An SFA report last year first mentioned the introduction of a so-called Cooperation System and other possible introductions including incentives for playing young Scots in cup competitions and the implementation of a scholarship system to protect against our top talents being snapped up by English clubs before they turn 18. SFA Chief Football Officer Andy Gould spoke to The Herald on the impact of the Cooperation System: 'This can definitely make a difference to Scotland teams of the future Advertisement 'It's an opportunity for clubs to use a system that enhances their chances of getting players into their first team. 'At the top end of the game it gives them a greater opportunity of selling those players and, down the line, there is an opportunity for the national team to get the benefit of that. 'That's not necessarily going to happen overnight, it does take a period of time. 'How many years is difficult to predict, but we need to find a competitive system which gives us a competitive edge over others and at the minute we don't have that.' Advertisement Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
The Courier
28-05-2025
- The Courier
Fife Buckfast lout told 999 operator 'I'm the f***ing real deal' and made hostage threat
A thug who assaulted his adult son in Fife and told 999 call handlers he was going to take hostages has been jailed for more than a year. David Watson appeared from custody at Kirkcaldy Sheriff Court to be sentenced for offending on April 26 and May 23-to-24 this year. Watson still had an unexpired prison sentence hanging over his head when he carried out three assaults, telling one victim: 'I'm not done fighting yet.' Later, Watson dialled police and told them he was the 'f***ing real deal', demanding they 'test' him. Watson, 43, of Glendale in Leven, admitted assaulting his adult son twice at a property in Glenrothes on April 26. He first repeatedly punched him on the head, then struck him on the head with a glass bottle. He also admitted assaulting a woman there by seizing her by the clothing, wrapping it around her neck and compressing. Fiscal depute Catherine Stevenson said Watson had been staying at the property on-and-off for a few days before becoming violent at 2.30pm. After arguing with his son, he began throwing items across the room. When the woman told Watson to leave, he 'grabbed her by the housecoat and twisted it around her neck.' He told the woman: 'I'm not done fighting yet.' Once charged, he told officers: 'Ram it up your arse.' Watson also admitted acting in a threatening or abusive manner by repeatedly calling the emergency services on May 23 and 24, failing to report anything, making threats to take hostages and threatening violence. When police arrived, he admitted assaulting two PCs by trying to headbutt them and making an offensive comment to one. Ms Stevenson said: 'At about 11.37pm, police have received a call from the accused's phone number. 'The accused was being abusive, stating the call handler was a f***ing b******d. 'When asked if he required assistance, he stated: 'So f***ing what?' 'He stated: 'My name's David Watson and I'm the f***ing real deal, I'm f***ing telling you. Test me. 'I'm going to take f***ing hostages.' 'He has then become abusive and stated he would stab the life out of the call handler. 'The accused has then made a further call, not requesting help but being abusive. The police have then attended.' 'Agitated and aggressive' Watson was traced in his living room and began brandishing a bottle of Buckfast. One officer was forced to draw his taser but 'clearly intoxicated' Watson was eventually cuffed. When later charged, he told officers: 'Shove it up your arse.' Solicitor Martin McGuire said: 'The main issue and background is Mr Watson's alcohol use, which is problematic. 'That's been a theme for many years. 'During the course of the first incident, Mr Watson received a facial injury – a black eye.' Sheriff Mark Allan jailed Watson for ten months and ordered him to serve another 90 days of an unexpired sentence. He said: 'There is no alternative in my judgement other than the imposition of a custodial sentence.' In 2022, Watson was jailed for two months for stealing an £8 bottle of Buckfast.
The National
23-05-2025
- Sport
- The National
Slovakia 2 Scotland 1: New under-21 captain Watson hailed despite loss
Scot Gemmill praised new skipper David Watson and Hearts and Scotland starlet James Wilson after his Under 21s suffered a comeback defeat in Slovakia. The young Scots took an early lead thanks to a fine goal from Bobby Wales and missed a string of chances, and they were made to regret those chances when the hosts fired in two second half goals to win it in Senec. But boss Gemmill insisted it was a worthy exercise ahead of the opening Euros qualifiers in Czech Republic and against Portugal. He said: "It was good to see the players because we need to see them playing at this level. "In fairness, both teams could have scored plenty of goals if they had taken their chances. "It's one thing to go and see players at their clubs, but it's another thing to see them actually play at our level. "There's nothing better, nothing more revealing than that. "I see the qualifiers as a continuation of these games. It's all about the players' development during their period with us. "I think David Watson deserved to be captain. He's good within the squad and showed good leadership. "And we know James Wilson is a really good prospect and he's worked hard and been rewarded with a place in Steve Clarke's squad. "I am sure he will be annoyed he missed a couple of chances today, but it was good to give him some more fitness. It will be good for him to get that before he joins up with the full squad." Scotland handed debuts to Wilson - who followed on from being the nation's youngest-ever international to the only player who has made their bow for the full squad before the Under 21s - as well as Celtic duo Mitchel Frame and Mitchell Robertson, Manchester United's Jack Kingdon, Taylor Steven of St Johnstone and Blackburn Rovers' Kristi Montgomery. Killie's David Watson was handed the captain's armband for the first time and Wilson nearly made a dream introduction to this level when he cracked a cutback off the bar in the second minute. The Scots took a deserved 11th-minute lead when Steven threaded through the perfect pass to the onrushing Wales and the newly-signed Swansea City striker converted with ease. But Scotland could only hold out for a couple of minutes after the restart when Slovan Bratislava striker Alexej Maros slotted past Hibs keeper Murray Johnson, who had replaced McFarlane at the interval. And the home nation snatched the winner with eight minutes left after sub Jakub Jokel curled in a fine finish to win it for Slovakia, who are hosting the European Under 21s Championships next month.
