Argan, Inc. (NYSE:
Argan, Inc. beats earnings expectations. Reported EPS is $0.58, expectations were $0.52.
Operator: Good evening, ladies and gentlemen, and welcome to the Argan, Inc. Earnings Release Conference Call for the First Fiscal Quarter Ended April 30th, 2024. This call is being recorded. All participants have been placed on listen-only mode. Following management’s remarks, the call will be open for questions. There is a slide presentation that accompanies today’s remarks, which can be accessed via the webcast. At this time, it is my pleasure to turn the floor over to your host for today, Jennifer Belodeau, of IMS Investor Relations. Please go ahead, Ma’am.
Jennifer Belodeau: Thank you. Good evening, and welcome to our conference call to discuss Argan’s results for the first fiscal quarter ended April 30, 2024. On the call today we have David Watson, Chief Executive Officer; and Hank Deily, Chief Financial Officer. I will take a moment to read the Safe Harbor statement. Statements made during this conference call and presented in the presentation that are not based on historical facts are forward-looking statements. Such statements include but are not limited to projections or statements of future goals and targets regarding the company’s revenues and profits. These statements are subject to known and unknown factors and risks. The company’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements and some of the factors and risks could cause or contribute to such material differences have been described in this afternoon’s press release and in Argan’s filings with the US Securities and Exchange Commission.
These statements are based on information and understandings that are believed to be accurate as of today and we do not undertake any duty to update such forward-looking statements. Earlier this afternoon, the company issued a press release announcing its first quarter fiscal 2025 financial results and filed its corresponding Form 10-Q report with the Securities and Exchange Commission. All right, with that out of the way, I will turn the call over to David Watson, CEO of Argan. Please go ahead, David.
David Watson: Thanks, Jennifer, and thank you, everyone for joining today. I’ll start by reviewing some of the highlights of our operations and activities and Hank Deily, our CFO will go over our financial results for the first fiscal quarter ended April 30, 2024. Then we’ll open up the call for a brief Q&A. Fiscal 2025 is off to a strong start, as demonstrated by a 52% increase in consolidated revenues to $157.7 million, improved profitability and EBITDA of $11.9 million. Our growth was driven by significantly strong performance from both Gemma and The Roberts Company, or TRC. We were especially pleased to deliver this profit growth despite incurring a loss of $2.6 million in the quarter…