Stock Track | Argan (AGX) Soars 8% in Pre-Market on Record Q3 Results, Bright AI Data Center Power Demand Outlook

Stock Track

Dec 06, 2024

Shares of Argan Inc. (AGX) surged over 8% in pre-market trading on Friday, following the company's stellar fiscal third-quarter 2025 earnings report that highlighted record revenue growth and strong momentum in its power services segment, driven by increasing demand for reliable energy sources to power AI data centers.

The construction firm specializing in energy infrastructure reported a 57% year-over-year increase in revenue to $257 million for the quarter, fueled by a 75% jump in power services revenue to $212 million. Argan's ability to capitalize on the burgeoning demand for renewable energy projects and natural gas power plants positions it as a key enabler of the ongoing AI revolution.

With a robust project backlog of $0.8 billion and a strong balance sheet boasting $506 million in cash and zero debt, Argan appears well-equipped to meet the surging energy needs of AI data centers. The company's expertise in constructing both renewable energy installations and gas power plants aligns it with the industry's dual focus on sustainable and reliable power sources.

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