$AGX

ARGAN INC

CIK:0000100591|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
REVENUES	$ 383,976	$ 237,743	$ 674,930	$ 431,403
Cost of revenues	309,758	193,476	539,598	350,273
GROSS PROFIT	74,218	44,267	135,332	81,130
Selling, general and administrative expenses	17,413	14,212	33,132	26,733
INCOME FROM OPERATIONS	56,805	30,055	102,200	54,397
Other income, net	10,083	5,581	18,457	11,025
INCOME BEFORE INCOME TAXES	66,888	35,636	120,657	65,422
Provision for income taxes	13,586	361	21,292	7,597
NET INCOME	53,302	35,275	99,365	57,825
OTHER COMPREHENSIVE INCOME, NET OF TAXES
Foreign currency translation adjustments	(267)	(251)	(808)	3,370
Net unrealized (losses) gains on available-for-sale securities	(4,550)	(1,082)	(7,209)	1,598
COMPREHENSIVE INCOME	$ 48,485	$ 33,942	$ 91,348	$ 62,793
EARNINGS PER SHARE
Basic (in dollars per share)	$ 3.8	$ 2.57	$ 7.1	$ 4.23
Diluted (in dollars per share)	$ 3.76	$ 2.5	$ 7.01	$ 4.09
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in shares)	14,028	13,731	13,994	13,680
Diluted (in shares)	14,164	14,131	14,181	14,122
CASH DIVIDENDS PER SHARE	$ 0.5	$ 0.375	$ 1	$ 0.75

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 99,365	$ 57,825
Adjustments to reconcile net income to net cash provided by operating activities
Stock compensation expense	4,458	3,453
Depreciation	1,204	906
Changes in accrued interest on investments	(1,816)	538
Non-cash lease expense	4,487	2,151
Deferred income tax (benefit) expense	(1,382)	767
Other	313	(1,034)
Changes in operating assets and liabilities
Accounts receivable	(44,468)	(3,226)
Contract assets	7,784	4,689
Other assets	(13,693)	(1,731)
Accounts payable and accrued expenses	41,051	(12,022)
Contract liabilities	113,051	17,579
Net cash provided by operating activities	210,354	69,895
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments	(72,500)	(25,000)
Maturities of short-term investments	42,500	80,000
Purchases of available-for-sale securities	(120,084)	(92,164)
Maturities of available-for-sale securities	35,000	25,000
Acquisition, net of cash acquired	(7,970)
Purchases of property, plant and equipment	(7,688)	(2,089)
Net cash used in investing activities	(130,742)	(14,253)
CASH FLOWS FROM FINANCING ACTIVITIES
Common stock repurchases	(9,649)	(7,048)
Payments of cash dividends	(14,023)	(10,247)
Settlements of share-based awards, net of withholding taxes paid	(28,057)	(7,632)
Net cash used in financing activities	(51,729)	(24,927)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH	(2,883)	1,872
NET INCREASE IN CASH AND CASH EQUIVALENTS	25,000	32,587
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	339,481	145,263
CASH AND CASH EQUIVALENTS, END OF PERIOD	364,481	177,850
NON-CASH INVESTING AND FINANCING ACTIVITIES
Right-of-use assets obtained in exchange for lease obligations	19,046	2,147
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for income taxes, net of refunds	15,100	8,000
Cash paid for operating leases	$ 4,493	$ 2,070

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2026	Jan. 31, 2026
CURRENT ASSETS
Cash and cash equivalents	$ 364,481	$ 339,481
Investments	663,965	555,500
Accounts receivable, net	180,356	133,677
Contract assets	35,713	43,397
Other current assets	73,955	60,202
TOTAL CURRENT ASSETS	1,318,470	1,132,257
Property, plant and equipment, net	22,797	16,596
Goodwill	30,670	28,033
Intangible assets, net	6,030	1,450
Right-of-use and other assets	23,003	8,018
TOTAL ASSETS	1,400,970	1,186,354
CURRENT LIABILITIES
Accounts payable	115,212	107,540
Accrued expenses	135,878	89,748
Contract liabilities	627,020	513,969
TOTAL CURRENT LIABILITIES	878,110	711,257
Deferred taxes, net	3,061	6,555
Noncurrent liabilities	12,960	6,280
TOTAL LIABILITIES	894,131	724,092
COMMITMENTS AND CONTINGENCIES (see Notes 8 and 9)
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; 14,032,792 and 13,950,712 shares outstanding at July 31, 2026 and January 31, 2026, respectively	2,374	2,374
Additional paid-in capital	165,039	167,234
Retained earnings	491,539	406,197
Treasury stock, at cost - 1,795,497 and 1,877,577 shares at July 31, 2026 and January 31, 2026, respectively	(144,914)	(114,361)
Accumulated other comprehensive (loss) income	(7,199)	818
TOTAL STOCKHOLDERS' EQUITY	506,839	462,262
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,400,970	$ 1,186,354