Argan's stock surged 11.40% over a 24-hour period, with significant gains occurring in the after-hours and intraday sessions following the release of its fiscal first-quarter results.

The power plant builder reported quarterly earnings of $3.24 per share, significantly beating analyst consensus estimates ranging from $2.31 to $2.33. Revenue for the quarter reached $290.95 million, surpassing expectations of approximately $256 million and representing a 50.2% increase year-over-year. Net income more than doubled compared to the same period last year.

The strong performance was attributed to robust execution in the company's power services segment, improved profit margins from a favorable project mix and early completion of a solar and battery project, and increased demand in the industrial segment linked to new data center contracts. Management cited enduring tailwinds from electrification trends, onshoring of manufacturing, and data center growth as key drivers for the results and future outlook.