Industrial construction specialist Argan (NYSE: AGX) saw a 12% drop in share price after releasing a third-quarter earnings report showing a 2% decrease in revenue to $251.2 million and a 10% increase in GAAP net income to $30.7 million.

Investors seemed disappointed despite Argan beating the average projection for GAAP net profit but falling short of revenue expectations. Management attributed the revenue dip to timing and project mix issues, with higher gross margins in power industry and industrial construction segments driving the profit increase.

Despite the sell-off, Argan remains a profitable company, offering a potential buying opportunity at a discount.

Read more at Nasdaq: Why Argan Stock Plummeted by 12% Today