Argan (AGX) risk factors

38 risks, 10 new, 13 dropped, 25 reworded since the prior year. Power results now emphasize project timing, cost estimates, fixed-price exposure, and customer concentration, including 80.1% of Fiscal 2026 revenue.

41 risks. Argan relies heavily on large utility-scale natural gas and renewable EPC projects through its power industry segment. Fixed-price contracts and cost overruns present major operational risks for complex energy construction. Supply chain volatility, labor shortages, and regulatory hurdles threaten project margins and backlog realization.