The company achieved a gross profit of $65.6 million for the quarter, representing 25.0% of consolidated revenues, compared to $47.6 million or 20.5% in the prior year. This improvement in gross profit margins reflects strong project execution, including the early completion of the Trumbull Energy Center. Argan's net income for the quarter was $49.2 million, or $3.47 per diluted share, a significant increase from $31.4 million, or $2.22 per diluted share, in the fourth quarter of 2025. EBITDA for the quarter rose to $56.0 million from $39.3 million year-over-year.
For the fiscal year 2026, Argan reported consolidated revenues of $944.6 million, an increase of 8.1% from $874.2 million in fiscal 2025. The gross profit for the year was approximately $193.7 million, or 20.5% of revenues, compared to $141.0 million, or 16.1% of revenues, in the previous year. The company achieved a net income of $137.8 million, or $9.74 per diluted share, versus $85.5 million, or $6.15 per diluted share, for fiscal 2025. EBITDA for the year was $162.8 million, up from $113.5 million in the prior year.
Argan's project backlog reached approximately $2.9 billion as of January 31, 2026, compared to $1.4 billion a year earlier, reflecting the company's strong market position and demand for its services. David Watson, President and CEO, stated, "Our record fourth quarter performance capped a year of strong execution throughout fiscal 2026, driving record top and bottom-line performance for the full year. These are exciting times for our company as demand for our services remains exceptionally strong."
The company will host a conference call for investors on March 26, 2026, at 5:00 p.m. ET to discuss these results further. With a solid financial foundation and a growing project backlog, Argan is well-positioned to capitalize on the increasing demand for reliable energy infrastructure.
