Q2 2018

Commenting on Argan’s results, Rainer Bosselmann, Chairman and Chief Executive Officer, stated, “We experienced a meaningful rebound in our margins and bottom line compared to the last several quarters resulting from record performance at APC and TRC and the recent achievement of substantial completion on four key power plant projects. These gas-fired power plants can provide dependable and efficient power 24 hours a day to over two million homes and remain a viable and large part of our nation’s dynamic power supply. We continue to position our Company as an accomplished builder of these complex gas-fired power plants and, as we recently reported, we signed another EPC contract to build a large gas-fired power plant. As we have indicated previously, we are focused on identifying opportunities, rebuilding our backlog and remain cautiously optimistic that we will add several more projects to backlog this year and in calendar 2019. Nonetheless, this transition will result in a decrease to our revenues in the coming quarters until work on new projects is secured and ramps up in accordance with the normal construction cycle of large EPC projects.”
Argan, Inc. Reports Second Quarter Results | Business Wire