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Argan Stock Plummets on Weak Q2 Sales Despite Earnings Beat
Argan Stock Plummets on Weak Q2 Sales Despite Earnings Beat
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BTCCSquare news:
Argan (AGX) shares tumbled as much as 17.1% during Friday's session after reporting mixed Q2 results. While the energy infrastructure specialist posted $2.50 EPS versus $1.64 estimates, revenue of $237.7 million missed Wall Street's $244 million target. The earnings surprise appears driven by non-recurring items, while the sales shortfall triggered a market backlash.
Investors shrugged off Argan's record $2 billion contract backlog, focusing instead on the timing risks in contract execution. The disconnect between profitability and top-line performance underscores the market's current preference for sustainable growth over one-time accounting gains.
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