Why Argan Stock Plummeted by 12% Today

Industrial construction specialist (NYSE: AGX) didn't finish the trading week on a high note. On Friday, investors assertively sold out of the stock following the release of an earnings report that many found dispiriting. The company's share price fell by 12% that trading session.

In Argan's third quarter, the company reported revenue of nearly $251.2 million, a 2% decrease year-over-year. Net income according to generally accepted accounting principles (GAAP) went the other way, rising by nearly 10% to $30.7 million, or $2.17 per share.

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Source Fool.com