Argan Impresses as General Contractor for Complex Energy Projects
Despite the strong pipeline, the construction business is volatile in the short term
Natural gas projects account for 61% of the orders and remain, according to the CEO, the main growth drivers
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Argan (AGX) impresses with strong long-term growth prospects as well as short-term chart strength. It is one of the few companies capable of taking on the construction of complex gas and steam combined cycle power plants. The second quarter was only temporarily impacted by missed revenue expectations, which makes sense for several reasons: The order backlog has reached a new record of 2 billion USD and is expected to increase significantly by 2025. Over the next 10 years, 78 GW of old energy plants are expected to be decommissioned in the USA....
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