consolidated estimates of Argan, Inc. (NYSE: AGX) Q2 fiscal year 2019

On Friday Argan, Inc. (NYSE: AGX) below -1.28% and ended at $40.8. The stock market capitalization arrived at $646.27M and total traded volume was 184.88K shares. During last trade, its maximum trading price was registered $41.12 and it’s the minimum trading price was noted $40.26.

The average true range of Argan, Inc.’s (AGX) is recorded at 0.98 and the relative strength index of the stock stands 55.42. The stock price is going above to its 52 week low with 16.31% and lagging behind from its 52 week high with -21.46%. A look on the firm performance, its monthly performance is 8.68% and a quarterly performance of 4.45%. The stock price is trading downbeat from its 200 days moving average with -6.60% and up from 50 days moving average with 2.50%.

Argan, Inc. (NYSE: AGX) recently reported financial results for its second quarter ended July 31, 2019.

Our consolidated revenues for the three months ended July 31, 2019 were $63.1M which represented a decline of $73.6M from $136.7M for the three months ended July 31, 2018.

Presently, we estimate that the forecasted costs to perform the contracted work will exceed projected revenues by $30.9M. The total amount of this loss was recognized in our operating results for the six-month period ended July 31, 2019, including $3.4M reflected in our operating results for the three months ended July 31, 2019.

However, an income tax benefit of $6.4M, that was recognized for the current quarter, offset the contract loss for the quarter and resulted in net income attributable to our stockholders of $1.2M, or $0.07 earnings per diluted share, for the three months ended July 31, 2019 contrast to net income attributable to our stockholders of $17.0M, or $1.08 earnings per diluted share, for the previous year quarter. EBITDA attributable to our stockholders for the quarter ended July 31, 2019 reduced to $(4.1)M, or $(0.26) per diluted share, from $24.4M, or $1.56 per diluted share, for the previous year quarter. The Company paid its regular quarterly cash dividend of $0.25 per share in July.

As of July 31, 2019, our cash, cash equivalents and short-term investments totaled $234M and net liquidity was $294M.

Also, during the quarter, GPS entered into an EPC services contract to construct a 625 MW natural gas-fired power plant in Harrison County, West Virginia. Our project backlog has been increased to about $1.4B as of July 31, 2019 from $1.1B as of January 31, 2019.

We are also happy with record revenues at Roberts this quarter though our overall bottom line was negatively influenced by an additional $3.4M loss on our APC project in the United Kingdom.

Clint Lewis

Clint Lewis –Business I am Clint Lewis I have finished my four-year college education in English writing and I hold a master’s degree in Business from Stanford University. Writing about business and finance is in great interest. I have great command overwriting due to my five-year experience which incorporates articles, web substances, and web journals. I generally love to play with work, in both my profession and education.  I additionally had teaching experience of 2 years at the eminent college to show business and specialized composition and presently, I am working as an educator and preparing writer and creator. I am unimaginably social, and I love to travel and investigate the world.

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