ARGAN INC

Argan, Inc. (NYSE: AGX) is a diversified engineering and construction firm operating through three reportable business segments: Power, Industrial, and Teledata. The company maintains its website at www.arganinc.com.

The Power segment represents the largest portion of Argan's business, generating approximately 80 percent of consolidated revenues. This segment provides full-service engineering, procurement, and construction services for utility-scale power generation projects, including combined-cycle natural gas-fired plants, simple-cycle peaking facilities, renewable energy installations such as solar fields and wind farms, and biofuel and biomass plants. The Power segment serves independent power producers, public utilities, and commercial firms with significant power requirements across the United States, Ireland, and the United Kingdom. Projects typically range from one to four years in duration and include complete plant engineering, equipment procurement, turnkey construction, and commissioning services.

The Industrial segment contributes approximately 18 percent of consolidated revenues and provides on-site construction services, maintenance turnarounds, and emergency mobilizations for industrial operations primarily in the Southeast region. This segment operates a pipe and vessel fabrication facility exceeding 90,000 square feet near Greenville, North Carolina, and serves customers in aluminum rolling and recycling, data center development, electric vehicle manufacturing, specialty chemicals, pulp and paper, and water treatment industries.

The Teledata segment accounts for approximately 2 percent of consolidated revenues and provides utility construction and technology infrastructure services across the Mid-Atlantic, New England, and Southeast regions. Services include directional boring, aerial cable installation, underground communication and power network construction, and structured cabling for data and voice networks.

As of January 31, 2026, Argan employed 1,409 full-time personnel across its operations. The company maintains a project backlog exceeding $2.7 billion as of the same date. Argan operates as a holding company with wholly-owned subsidiaries managed independently while receiving strategic oversight from corporate headquarters. The company maintains financing arrangements including a $35 million revolving credit facility with an accordion feature providing an additional $30 million in capacity, plus a $25 million companion facility for letters of credit issued through overseas operations.