Argan's Record Backlog Fuels Debate on Growth Durability and Risks
ByAinvest
Wednesday, Feb 4, 2026 5:37 am ET1min read
AGX--
Argan, Inc. reported record project backlog, higher fiscal year revenue, and net income. The company highlighted strong cash generation and a debt-free balance sheet supporting its recent performance. Management pointed to diversified activity across multiple industrial sectors as a key driver of its current momentum. Investors are weighing the risks and rewards of Argan's strong run, with a 5.3% weekly gain and 17.1% monthly gain, driven by its mix of record backlog, profitability, and debt-free balance sheet.
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