Argan Inc. Files Q3 2024 10-Q
Ticker: AGX · Form: 10-Q · Filed: Dec 5, 2024 · CIK: 100591
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Argan Inc. 10-Q filed. Financials updated for Q3 2025. Check investments & stock.
AI Summary
Argan Inc. filed its 10-Q for the period ending October 31, 2024. The company reported its financial performance and position, including details on its investments and common stock. Specific dollar amounts for treasury stock and retained earnings as of October 31, 2024, were provided.
Why It Matters
This filing provides investors with an update on Argan Inc.'s financial health and operational performance for the third quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- $18.5M — Investments (Reported in the filing.)
- $9.5M — Investments (Reported in the filing.)
Key Players & Entities
- ARGAN INC (company) — Filer
- 20241031 (date) — Period of Report
- 20241205 (date) — Filing Date
- 001-31756 (company) — SEC File Number
- PUROFLOW INC (company) — Former Company Name
- ULTRA DYNAMICS CORP (company) — Former Company Name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is October 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on December 5, 2024.
What was Argan Inc.'s former company name?
Argan Inc. was formerly known as PUROFLOW INC and ULTRA DYNAMICS CORP.
What is Argan Inc.'s fiscal year end?
Argan Inc.'s fiscal year ends on January 31.
What are some of the financial statement line items mentioned in the filing?
The filing mentions us-gaap:TreasuryStockCommonMember, us-gaap:RetainedEarningsMember, and us-gaap:AdditionalPaidInCapitalMember as of October 31, 2024.
Filing Stats: 4,540 words · 18 min read · ~15 pages · Grade level 14.3 · Accepted 2024-12-05 16:15:30
Key Financial Figures
- $0.15 — nge on Which Registered Common Stock, $0.15 par value AGX New York Stock Exchan
Filing Documents
- agx-20241031x10q.htm (10-Q) — 2037KB
- agx-20241031xex31d1.htm (EX-31.1) — 10KB
- agx-20241031xex31d2.htm (EX-31.2) — 10KB
- agx-20241031xex32d1.htm (EX-32.1) — 6KB
- agx-20241031xex32d2.htm (EX-32.2) — 6KB
- agx-20241031x10q001.jpg (GRAPHIC) — 6KB
- 0001558370-24-016050.txt ( ) — 9372KB
- agx-20241031.xsd (EX-101.SCH) — 57KB
- agx-20241031_cal.xml (EX-101.CAL) — 53KB
- agx-20241031_def.xml (EX-101.DEF) — 174KB
- agx-20241031_lab.xml (EX-101.LAB) — 425KB
- agx-20241031_pre.xml (EX-101.PRE) — 335KB
- agx-20241031x10q_htm.xml (XML) — 2122KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended October 31, 2024 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT For the Transition Period from to Commission File Number 001-31756 (Exact Name of Registrant as Specified in Its Charter) Delaware 13-1947195 (State or Other Jurisdiction of Incorporation) (I.R.S. Employer Identification No.) One Church Street, Suite 201 , Rockville , Maryland 20850 (Address of Principal Executive Offices) (Zip Code) ( 301 ) 315-0027 (Registrant's Telephone Number, Including Area Code) (Former Name, Former Address and Former Fiscal Year, if Changed since Last Report) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 (the "Exchange Act") during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes No Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, $0.15 par value AGX New York Stock Exchange Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date. Common stock, $0.15 par value: 13,575,116 shares as of November 29, 2024. ARGAN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended October 31, October 31, 2024 2023 2024 2023 REVENUES $ 257,008 $ 163,755 $ 641,705 $ 408,779 Cost of revenues 212,681 144,520 548,329 351,578 GROSS PROFIT 44,327 19,235 93,376 57,201 Selling, general and administrative expenses 13,995 11,375 37,848 32,467 INCOME FROM OPERATIONS 30,332 7,860 55,528 24,734 Other income, net 6,646 3,733 17,044 7,222 INCOME BEFORE INCOME TAXES 36,978 11,593 72,572 31,956 Income tax expense 8,968 6,129 18,482 11,616 NET INCOME 28,010 5,464 54,090 20,340 OTHER COMPREHENSIVE INCOME, NET OF TAXES Foreign currency translation adjustments ( 957 ) ( 882 ) ( 1,933 ) ( 627 ) Net unrealized losses on available-for-sale securities ( 659 ) ( 427 ) ( 169 ) ( 1,147 ) COMPREHENSIVE INCOME $ 26,394 $ 4,155 $ 51,988 $ 18,566 NET INCOME PER SHARE Basic $ 2.07 $ 0.41 $ 4.04 $ 1.52 Diluted $ 2.00 $ 0.40 $ 3.91 $ 1.50 WEIGHTED AVERAGE SHARES OUTSTANDING Basic 13,530 13,328 13,398 13,381 Diluted 14,034 13,559 13,830 13,549 CASH DIVIDENDS PER SHARE $ 0.375 $ 0.300 $ 0.975 $ 0.800 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 ARGAN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share data) October 31, January 31, 2024 2024 (Unaudited) (Note 1) ASSETS CURRENT ASSETS Cash and cash equivalents $ 175,349 $ 197,032 Investments 330,933 215,373 Accounts receivable, net 131,660 47,326 Contract assets 44,620 48,189 Other current assets 34,579 39,259 TOTAL CURRENT ASSETS 717,141 547,179 Property, plant and equipment, net 14,147 11,021 Goodwill 28,033 28,033 Intangible assets, net 1,924 2,217 Deferred taxes, net 1,254 2,259 Right-of-use and other assets 6,365 7,520 TOTAL ASSETS $ 768,864 $ 598,229 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 87,085 $ 39,485 Accrued expenses 7