Argan Posts Record Q2 Revenue of $384 Million While Phreesia Shares Slip on EPS Miss

Argan, Inc. reported record second-quarter fiscal 2027 results on September 2, 2026, beating analyst forecasts and sending shares higher in after-hours trading. The power infrastructure contractor posted revenue of $384 million for the quarter ended July 31, 2026, up roughly 61% from $238 million in the same period a year earlier, driven largely by its Power segment, which grew revenue 53% year over year to $301 million at a gross margin of 22%. Net income reached a record $53.3 million, or $3.76 per diluted share, compared with $35.3 million, or $2.50 per diluted share, in last year's second quarter. Adjusted EBITDA rose to $70 million from $36.2 million a year ago, and the gross margin expanded to 19.3%.

CEO David Watson highlighted strong project execution and noted that following the close of the quarter, the company achieved final completion on its remaining Midwest Solar and Battery projects. Argan entered the quarter with a project backlog exceeding $2.9 billion, reflecting sustained demand tied to AI data center construction, grid electrification, and power upgrades across the United States.

Phreesia, Inc. reported more mixed results for its fiscal second quarter ended July 31, 2026. The healthcare software company posted total revenue of $129.5 million, up 10% year over year, in line with management expectations, but shares fell in after-hours trading on an earnings-per-share miss. Payment solutions was the standout segment, growing 36% in the quarter. CEO Chaim Indig said the company generated positive operating and free cash flow and used proceeds along with available cash to reduce debt principal by more than $23 million during the quarter. Phreesia also flagged ongoing investment in two growth products, AccessOne and ProviderConnect, as well as AI-driven enhancements across its platform.