Shares of Argan Inc. (AGX) surged 14.47% in after-hours trading on Thursday following the release of its fourth-quarter financial results that significantly exceeded analyst expectations. The company's strong performance across key financial metrics drove investor enthusiasm, pushing the stock higher.
Argan reported a remarkable fourth-quarter earnings per share (EPS) of $2.22, more than doubling from $0.89 in the same period last year and substantially beating the FactSet analyst consensus estimate of $1.20. The company's revenue for the quarter ended January 31 reached $232.5 million, marking a 41.28% increase from $164.6 million a year earlier and surpassing the analyst expectations of $197.5 million by 17.71%.
Other financial highlights from Argan's Q4 report include a net income of $31.4 million, EBITDA of $39.3 million, and gross profit of $47.6 million. The company's impressive financial performance demonstrates its ability to drive growth and profitability in challenging market conditions. David Watson, President and Chief Executive Officer of Argan, commented on the results, though the specific statement was not provided in the available news content. The strong quarterly performance suggests that Argan's strategic initiatives and market position have yielded positive results, setting a solid foundation for future growth.
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