American Vanguard (AVD) News
Market Cap: $126.09M
Avg Volume: 265.88K
Industry: Agricultural Inputs
Sector: Basic Materials
American Vanguard Corporation (AVD) Q4 2024 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q4 2024 Earnings Conference Call March 14, 2025 9:00 AM ET Company Participants Anthony Young - Director, IR Dak Kaye - CEO David Johnson - CFO Conference Call Participants Ben Klieve - Lake Street Capital Mike Harrison - Seaport Research Partners Wayne Pinsent - Gabelli Funds Operator Greetings, and welcome to the American Vanguard Fourth Quarter Earnings Review Conference Call. At this time, all participants are in a listen-only mode, and a question-and-answer session will follow the formal presentation.
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American Vanguard Reports Preliminary Results for Fourth Quarter & Full Year 2024
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard® Corporation (NYSE:AVD), a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamental management and commercial pest control, today reported preliminary, financial results for the fourth quarter and full year ended December 31, 2024. The results reported herein are preliminary. Final results will appear in the company's 10-K for the fis.
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American Vanguard Announces Date of Fourth Quarter 2024 Earnings Release and Webcast Conference Call
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard® Company (NYSE: AVD) announced today it will release financial results for the fourth quarter of 2024 on Friday, March 14, 2025, before the market opens. The company will conduct a conference call focusing on operating performance and financial results at 9:00 a.m. ET / 6:00 a.m. PT on Friday, March 14, 2025. The conference call will be webcast live via, available in the News and Media section of the Company's website at www.american-van.
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INVESTIGATION ALERT: Berger Montague PC Investigates American Vanguard's Board Of Directors For Breach of Fiduciary Duties (NYSE: AVD)
PHILADELPHIA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Berger Montague advises shareholders of American Vanguard Corporation (“AVD”) (NYSE: AVD) about an investigation into AVD's Board of Directors for potential breaches of fiduciary duties to AVD and AVD's shareholders.
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American Vanguard Corporation (AVD) Q3 2024 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q3 2024 Earnings Conference Call November 11, 2024 4:30 PM ET Company Participants Anthony Young - Director, Investor Relations Timothy Donnelly - Acting Chief Executive Officer David Johnson - Vice President, Chief Financial Officer & Treasurer Mark Bassett - Board Member Mason Bennett - Vice President, North American Crop, American Vanguard Corp. Conference Call Participants Ben Klieve - Lake Street Capital Markets LLC Anthony Young Thank you, operator. Good afternoon and welcome to American Vanguard's Third Quarter 2024 Earnings Call.
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American Vanguard (AVD) Reports Q3 Loss, Misses Revenue Estimates
American Vanguard (AVD) came out with a quarterly loss of $0.69 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.01 per share a year ago.
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American Vanguard Reports Third Quarter 2024 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard® Company, a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamental management and commercial pest control, today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial and Operational Highlights – versus Third Quarter 2023: Net sales of $118.3 million ($130.7 million when excluding Da.
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New Strong Sell Stocks for September 27th
ASO, AVD and CVS have been added to the Zacks Rank #24 (Strong Sell) List on September 27, 2024.
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New Strong Sell Stocks for September 25th
ASO, AVD and ACLS have been added to the Zacks Rank #24 (Strong Sell) List on September 25, 2024.
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American Vanguard (AVD) Q2 Earnings and Sales Miss Estimates
Unfavorable market conditions weigh on American Vanguard's (AVD) top line in the second quarter.
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New Strong Sell Stocks for August 12th
ACI, ARCB and AVD have been added to the Zacks Rank #5 (Strong Sell) List on August 12, 2024.
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American Vanguard Corporation (AVD) Q2 2024 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Anthony Young - Director, Investor Relations Timothy Donnelly - Acting Chief Executive Officer Mark Bassett - Board Member David Johnson - Vice President, Chief Financial Officer & Treasurer Mason Bennett - Vice President, North American Crop, American Vanguard Corp. Conference Call Participants Scott Fortune - ROTH Capital Partners LLC Ben Klieve - Lake Street Capital Markets LLC Wayne Pinsent - GAMCO Investors, Inc. Operator Greetings and welcome to the American Vanguard Q2 2024 Conference Call and Webcast. At this time, all participants are in a listen-only mode.
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Why Is American Vanguard (AVD) Stock Down 28% Today?
American Vanguard (NYSE: AVD ) stock is falling on Friday after the specialty chemicals company announced its earnings for the second quarter of 2024. The bad news for AVD stockholders starts with the company's diluted earnings per share of -9 cents.
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American Vanguard (AVD) Reports Q2 Loss, Misses Revenue Estimates
American Vanguard (AVD) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to loss of $0.04 per share a year ago.
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American Vanguard Reports Q2 2024 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights – versus Second Quarter 2023: Net sales of $128.2 million v. $132.8 million Adjusted EBITDA1 of $6.2 million v. $10.7 million Earnings per share of $(0.42) v. $(0.04) First Half of 2024 Financial Highlights – versus First Half of 2023: Net sales of $263.4 million v. $257.7 million Adjusted EBITDA.
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Will American Vanguard (AVD) Report Negative Q2 Earnings? What You Should Know
American Vanguard (AVD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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American Vanguard Announces CEO's Intent to Retire
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE:AVD) today reported that its Chairman and Chief Executive Officer, Eric G. Wintemute, has presented to the board his plan to retire from his position as CEO. The terms of his retirement are set forth in a Transition Agreement under which Mr. Wintemute will participate in the search for his successor being conducted by the global executive search firm, Kincannon & Reed, and retire upon the successor's appointment but.
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Your 401(k) is up, and a new report shows increased savings. But Americans need to do more
Returns are up and people are saving more. But account balances for the median 401(k) are too low and Americans are still very reliant on Social Security.
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American Vanguard Announces Voting Results of Its 2024 Annual Meeting of Stockholders
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE:AVD) today announced voting results from its Annual Meeting of Stockholders held on June 6, 2024. As to the first of three initiatives, the nine director nominees named in the proxy received more votes “for” than “against”; those persons are, Marisol Angelini, Scott Baskin, Mark Bassett, Debra Edwards, Emer Gunter, Patrick Gottschalk, Steven Macicek, Keith Rosenbloom and Eric Wintemute. They will serve as directors unti.
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American Vanguard Declares Quarterly Dividend
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) announced that its Board of Directors has declared a cash dividend in the amount of $0.03 per share of the company's common stock to shareholders of record as of June 26, 2024, for distribution on July 10, 2024. Chairman and CEO Eric W. Wintemute commented, “We remain committed to returning cash to shareholders through our dividend. This payment reflects the Board of Directors' confidence in our core business, our.
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American Vanguard Announces Retirement of COO
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced that, after 35 years in the agrochemical industry, Executive Vice President & Chief Operating Officer, Bob Trogele, will be retiring effective May 31, 2024. Mr. Trogele joined the company's principal operating subsidiary, AMVAC, in January 2015 to focus on growing the business across multiple product lines and geographies, achieving greater profitability, and establishing a pipeline of future o.
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American Vanguard (AVD) Q1 Earnings Beat, Sales Miss Estimates
American Vanguard's (AVD) U.S. crop business registers strong sales of granular soil insecticides, herbicides and cotton and peanut products in Q1.
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American Vanguard Corporation (AVD) Q1 2024 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q1 2024 Results Conference Call May 9, 2024 4:15 PM ET Company Participants Anthony Young - Director of IR Eric Wintemute - Chairman and CEO David Johnson - CFO Bob Trogele - COO Tim Donnelly - Chief Information Officer Don Gualdoni - Chief Transformation Officer Conference Call Participants Scott Fortune - ROTH MKM Chris Kapsch - Loop Capital Markets Operator Greetings, and welcome to the American Vanguard First Quarter 2024 Earnings Conference Call and Webcast [Operator Instructions]. As a reminder, this conference is being recorded.
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American Vanguard Schedules 2024 First Quarter Earnings Release and Conference Call for Thursday, May 9th
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced that it will report financial results for the first quarter ended March 31, 2024, on Thursday, May 9, 2024, after the close of the stock market. Eric Wintemute, Chairman & CEO, David T. Johnson, VP & CFO, and Bob Trogele, EVP & COO, will conduct a conference call focusing on operating performance and financial results at 4:15 pm ET / 1:15 pm PT on May 9, 2024. Interested parties may pa.
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Is American Vanguard (AVD) a Great Value Stock Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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5 Value Stocks With Exciting EV-to-EBITDA Ratios to Snap Up
We have screened value stocks KBH, AVD, NMM, SIG and POR based on the EV-to-EBITDA ratio, which offers a clearer picture of valuation and earnings potential.
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Is American Vanguard (AVD) Stock Outpacing Its Basic Materials Peers This Year?
Here is how American Vanguard (AVD) and Daqo New Energy (DQ) have performed compared to their sector so far this year.
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American Vanguard's (AVD) Shares Up 19% in 3 Months: Here's Why
American Vanguard's (AVD) impressive fourth-quarter performance and bullish outlook for 2024, coupled with upward earnings revisions, signal confidence in its growth trajectory and market potential.
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4 Chemical Specialty Stocks to Gain From Demand Recovery
The Zacks Chemicals Specialty industry is poised to benefit from an uptick in demand across major end-use markets. PPG, DQ, HWKN and AVD are set to gain from self-help actions and demand recovery.
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Should Value Investors Buy American Vanguard (AVD) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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Why American Vanguard (AVD) Stock Might be a Great Pick
American Vanguard (AVD) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
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American Vanguard Announces 2024 Annual Shareholder Meeting
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced that its 2024 Annual Meeting of Stockholders will be held at 11:00am PST on Thursday, June 6, 2024, for holders of record as of April 10, 2024. As has been the case over the last several years, the meeting will be conducted via live webcast. The company anticipates that the following ballot measures will be voted upon: nomination of directors, ratification of Deloitte & Touche LLP as independen.
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Is American Vanguard (AVD) Outperforming Other Basic Materials Stocks This Year?
Here is how American Vanguard (AVD) and Ecolab (ECL) have performed compared to their sector so far this year.
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Top U.S. asset manager Vanguard doesn't believe the Fed will cut interest rates this year
Top U.S. asset manager Vanguard doesn't expect the Federal Reserve to cut interest rates this year.
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5 Value Stocks With Enticing EV-to-EBITDA Ratios to Own Now
We have screened value stocks PAGS, AVD, DBI, NMM and ESRT based on the EV-to-EBITDA ratio, which offers a clearer picture of valuation and earnings potential.
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Are Investors Undervaluing American Vanguard (AVD) Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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American Vanguard (AVD) Q4 Earnings Meet, Sales Miss Estimates
American Vanguard (AVD) sees a rebound in Q4 following challenges, including global destocking within the distribution channel.
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American Vanguard Corporation (AVD) Q4 2023 Earnings Call Transcript
American Vanguard Corporation (AVD) Q4 2023 Earnings Call Transcript
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American Vanguard Reports Fourth Quarter & Full Year 2023 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the fourth quarter and full year ended December 31, 2023. Fiscal 2023 Fourth Quarter Financial Highlights – versus Fiscal 2022 Fourth Quarter: Net sales were $172.2 million in 2023, compared to $159.5 million in 2022 Net income was $7.0 million in 2023, compared to $3.9 million in 2022 Earnings per diluted share of $0.25 in 2023, compared to $0.13 in 2022 Adjusted EBITDA1 of $.
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American Vanguard Schedules 2023 Fourth Quarter Earnings Release and Conference Call for Thursday, March 14th
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced that it will report financial results for the fourth quarter ended December 31, 2023, on Thursday, March 14, 2024, after the close of the stock market. Eric Wintemute, Chairman & CEO, and David T. Johnson, CFO, will conduct a conference call focusing on operating performance and financial results at 5 pm ET / 2 pm PT on March 14, 2024. Interested parties may participate in the call by dialing.
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Has American Vanguard (AVD) Outpaced Other Basic Materials Stocks This Year?
Here is how American Vanguard (AVD) and Ecolab (ECL) have performed compared to their sector so far this year.
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American Vanguard Appoints Steven Macicek to Its Board of Directors Morton D. Erlich to Retire
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) announced that Mort Erlich, who has served on the company's board of directors since October 2013, has expressed his intention to retire effective as of the filing of the Form 10-K for the period ended December 31, 2023. Mr. Erlich joined American Vanguard after a 34-year career with KPMG LLP and has served as the Chair of the company's Audit Committee, as well as a member of both the Compensation Committee and No.
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Are Basic Materials Stocks Lagging American Vanguard (AVD) This Year?
Here is how American Vanguard (AVD) and Ecolab (ECL) have performed compared to their sector so far this year.
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5 Value Stocks With Alluring EV-to-EBITDA Ratios to Snap Up
We have screened value stocks AZZ, ZIM, BIP, ENS and AVD based on the EV-to-EBITDA ratio, which offers a clearer picture of valuation and earnings potential.
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American Vanguard Confirms 2023 and 2024 Targets
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced key metrics from its preliminary and unaudited financial results for the fourth quarter and full year ended December 31, 2023. Eric Wintemute, Chairman and CEO of American Vanguard commented, “During our third quarter earnings report in November, we indicated expectations for the full year 2023 and our targets for 2024. While we have not completed our full audit cycle, I am pleased to report that.
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American Vanguard Scheduled to Announce Preliminary Unaudited Q4 & Full Year 2023 Financial Highlights
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced that it will discuss certain key preliminary and unaudited financial results for the fourth quarter and full year ended December 31, 2023, on Wednesday, January 31, 2024. Eric Wintemute, Chairman and CEO of American Vanguard commented, “In addition to our discussion of Preliminary Fourth Quarter and Full Year 2023 performance, we will speak to our 2024 Financial Targets, and provide an update on o.
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One place you won't find a bitcoin ETF: Jack Bogle's Vanguard
A Vanguard spokeswoman told CNBC that the asset management giant has no plans to create a bitcoin ETF of its own, or to even offer funds from other issuers on its trading platform.
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House panel subpoenas Vanguard, Arjuna in ESG 'collusion' probe
The House Judiciary Committee wants more records from the investment firms related to how they "advance ESG policies," Rep. Jim Jordan, R-Ohio, wrote.
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American Vanguard Hires Chief Transformation Officer
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) announces that it has hired Don Gualdoni to the newly-created position of Chief Transformation Officer. Mr. Gualdoni brings to this assignment over 25 years' experience in various leadership roles during which he has led several large, complex transformation projects. He joins us most recently from Teradata (a San Diego-based software company) and was formerly with McKinsey & Company. Chairman and CEO, Eric G.
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OHP®, an American Vanguard® Company, to Become Master Distributor of Certis® Biological Products in U.S. Non-crop Markets
NEWPORT BEACH, Calif. & MORRISVILLE, N.C.--(BUSINESS WIRE)--American Vanguard Company (NYSE: AVD) today announced that OHP® Inc., a leading provider of technology-based solutions for greenhouse and nursery production applications, has agreed to become master distributor in U.S. non-crop markets of biological technologies developed by Certis® Biologicals. With the agreement, OHP, an American Vanguard® Company and a vital part of the AMGUARD™ Environmental Technologies specialty brand, becomes th.
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American Vanguard Corporation (AVD) Q3 2023 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants William Kuser - VP, IR Eric Wintemute - Chairman and CEO David Johnson - CFO Conference Call Participants Brandon Rogers - ROTH Capital Partners Chris Kapsch - Loop Capital Markets Wayne Pinsent - Gabelli Funds Operator
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American Vanguard Reports Third Quarter and YTD 2023 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the third quarter and nine months ended September 30, 2023, and a transformation plan for future growth, operational efficiency and profitability. Flat Quarterly Sales in Spite of Global Destocking Chairman and CEO, Eric Wintemute stated: “With respect to our financial performance, in spite of global destocking by customers to limit inventory carrying costs, we recorded sales.
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AMVAC® and NewLeaf Symbiotics® Extend North American Partnership to Key Global Markets
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard® Corporation (NYSE: AVD), through its wholly owned subsidiary AMVAC Chemical Corporation, is pleased to announce the extension of our North American partnership with NewLeaf Symbiotics® of St. Louis. Building on the agreement announced in late 2022, AMVAC and NewLeaf will collaborate to bring innovative biologicals solutions to multiple markets in key locations internationally. The expanded relationship now will include distribution in A.
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American Vanguard Announces New Senior VP of Human Resources
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) announces that it has hired Ms. Shirin Khosravi to the newly-created position of Senior Vice President of Human Resources. Ms. Khosravi brings to this assignment over 30 years of progressive international HR experience in multiple Fortune 500 companies. In those roles, she has demonstrated extensive accomplishments in talent management, succession planning, employee engagement, process standardization and large-sc.
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American Vanguard (AVD) Expands in Latin America With Punto Verde
American Vanguard (AVD) acquires Punto Verde, an Ecuadorian distributor, to expand its product range and market presence in Latin America.
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American Vanguard Expands Latin American Presence by Acquiring Punto Verde in Ecuador
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) announced today that its subsidiary AMVAC LATAM has acquired Punto Verde, a well-established distributor in Guayaquil, Ecuador, to strengthen its product portfolio and market access in the Latin American region. AMVAC LATAM is a key player in the Latin American agricultural sector and has become a leader in the commercialization of crop protection products. Peter Eilers, Managing Director of American Vanguard's in.
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Veralto Set to Join S&P 500; Vestis to Join S&P MidCap 400; Others to Join S&P SmallCap 600
NEW YORK, Sept. 28, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, the S&P MidCap 400 and the S&P SmallCap 600 indices
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American Vanguard: Current Pessimism Represents A Good Opportunity For Long-Term Investors
Revenues are declining after a strong 2021 and 2022 as customers are emptying their inventories. Debt is increasing as the company keeps accumulating inventories. Profit margins remain depressed, but related headwinds are temporary.
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American Vanguard Corporation (AVD) Q2 2023 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants William Kuser - Director of IR & Corporate Communications Eric Wintemute - Chairman & CEO David Johnson - VP, CFO & Treasurer James Thompson - Director of Business Development Conference Call Participants Chris Kapsch - Loop Capital Brandon Rogers - ROTH Capital John Roberts - Credit Suisse Operator Welcome to the American Vanguard Corporation Second Quarter and year-to-date 2023 Earnings Call. I will now turn the call over to Bill Kuser, Director of Investor Relations.
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American Vanguard (AVD) Q2 Earnings & Sales Miss Estimates
American Vanguard (AVD) misses second-quarter estimates due to a decline in crop business revenues.
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American Vanguard (AVD) Reports Q2 Loss, Lags Revenue Estimates
American Vanguard (AVD) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of $0.32. This compares to earnings of $0.23 per share a year ago.
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American Vanguard Reports Second Quarter & Midyear 2023 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the second quarter and six months ended June 30, 2023. 3 Months Ended June 30, 2023 June 30, 2022 Change Net sales $ 132,790 $ 148,203 $ (15,413 ) Net income $ (1,053 ) $ 6,830 $ (7,883 ) EPS $ (0.04 ) $ 0.23 $ (0.27 ) Adjusted EBITDA1 $ 10,655 $ 19,656 $ (9,001 ) 6 Months Ended June 30, 2023 June.
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American Vanguard Schedules 2023 Second Quarter Earnings Release and Conference Call for Tuesday, August 8th
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced that it will report financial results for the second quarter ended June 30, 2023, on Tuesday, August 8, 2023, after the close of the stock market. Eric Wintemute, Chairman & CEO, and David T. Johnson, CFO, will conduct a conference call focusing on operating performance and financial results at 5 pm ET / 2 pm PT on August 8, 2023. Interested parties may participate in the call by dialing 713-4.
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American Vanguard Announces Voting Results of 2023 Annual Meeting of Stockholders
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE:AVD) announced voting results from its Annual Meeting of Stockholders held on June 7, 2023. As to the first of three initiatives, all nine director nominees - Marisol Angelini, Scott D. Baskin, Mark R. Bassett, Debra F. Edwards, Morton D. Erlich, Emer Gunter, Patrick E. Gottschalk, Keith M. Rosenbloom and Eric G. Wintemute - were reelected to serve on the board of directors until the next annual meeting or until their s.
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American Vanguard Corporation Announces Share Repurchase Program
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced that the Company's Board of Directors has approved a program for repurchasing up to $15 million of common stock within the requirements of Exchange Act Rule 10b-18 over the next twelve months. It is expected that this program will commence during the first week of June 2023. Eric Wintemute, Chairman and CEO of American Vanguard, stated, “This authorization to repurchase shares reflects the strong d.
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American Vanguard (AVD) Earnings and Sales Miss Estimates in Q1
Lower sales of domestic crop products weigh on American Vanguard's (AVD) first-quarter performance.
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American Vanguard Corporation (AVD) Q1 2023 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q1 2023 Results Conference Call May 9, 2023 5:00 PM ET Company Participants Bill Kuser - Director of IR & Corporate Communications Eric Wintemute - Chairman & CEO Scott Hendrix - SVP of Crop Sales for U.S. & Canada David Johnson - VP, CFO & Treasurer James Thompson - Director of Business Development Ulrich Trogele - COO & Executive VP Conference Call Participants Chris Kapsch - Loop Capital Gerry Sweeney - ROTH Capital Wayne Pinsent - Gabelli Operator Welcome to the American Vanguard Corporation First Quarter 2023 Financial Results. I will now turn the call over to Bill Kuser, Director of Investor Relations.
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American Vanguard Reports Q1 2023 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the quarter ended March 31, 2023. Q1 2023 Financial Performance – versus Q1 2022 (see table below): Eric Wintemute, Chairman and CEO of American Vanguard, stated: “During 2023, we expect to achieve higher adjusted EBITDA (between $84MM - $86MM) than in 2022, despite a first quarter setback arising from delays in restarting our supply chain, which is now back at capacity. After.
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American Vanguard Schedules 2023 First Quarter Earnings Release and Conference Call for Tuesday, May 9th
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced that it will report financial results for the first quarter ended March 31, 2023, on Tuesday, May 9, 2023, after the close of the stock market. Eric Wintemute, Chairman & CEO, Bob Trogele, COO, David T. Johnson, CFO, Scott Hendrix, U.S. Crop SVP and Jim Thompson, Leader of the Green Solutions Initiative, will conduct a conference call focusing on operating performance and financial results at.
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SmartProfiler for Azure Virtual Desktop (AVD) Assessment has been released to perform a technical assessment of AVD
Company Logo Image shows dashboard generated by SmartProfiler AVD to show optimization status and configuration inconsistencies across host pools. Image shows AVD Host Pools RDP Properties summary DynamicPacks Technologies Private Limited releases SmartProfiler for Azure Virtual Desktop (AVD) Assessment to perform a technical assessment of AVD. We believe, businesses have deployed Microsoft Azure Virtual Desktop […]...
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American Vanguard Announces 2023 Annual Meeting of Stockholders
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) announced the Company's Board of Directors has set the date for the 2023 Annual Shareholders Meeting to take place at 11:00 am PT on Wednesday, June 7, 2023. Shareholders of record as of April 10, 2023, will be entitled to vote their shares at that meeting. As has been the case over the past few years, this will be a virtual meeting that will be webcast live.
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American Vanguard's (AVD) Unit Inks Supply Deal With NewLeaf
The agreement between American Vanguard (AVD) and NewLeaf significantly strengthens AVD's strategic growth initiative in GreenSolutions.
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American Vanguard (AVD) Earnings and Sales Beat Estimates in Q4
American Vanguard (AVD) sees higher sales in its U.S. non-crop and international businesses in the fourth quarter.
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American Vanguard Corporation (AVD) Q4 2022 Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q4 2022 Results Conference Call March 13, 2023 4:30 PM ET Company Participants Tim Donnelly - CAO Eric Wintemute - Chairman, CEO David Johnson - CFO Scott Hendrix - SVP, US & Canada Crop Sales James Thompson - Director, Portfolio Strategy & Business Development Ulrich Trogele - COO Conference Call Participants Chris Kapsch - Loop Capital Markets Wayne Pinsent - Gabelli Funds Brandon Rogers - ROTH Operator Greetings, and welcome to the American Vanguard 2022 Year-End Earnings Call. [Operator Instructions] Please note that this conference call is being recorded.
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American Vanguard Reports Full Year 2022 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the full year ended December 31, 2022. Fiscal 2022 Full Year Financial Highlights – versus Fiscal 2021 Full Year: Net sales were $610 million in 2022, compared to $558 million in 2021 (up 9%) Net income was $ 27.4 million in 2022, compared to $18.6 million in 2021 (up 47%) Earnings per diluted share of $0.92 in 2022, compared to $0.61 in 2021 (up 51%) Adjusted EBITDA1 of $73.
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American Vanguard: Mixed Agriculture Outlook, Don't Gamble
American Vanguard is a cyclical investment on the agricultural industry. However, the current data is mixed and mostly suggests downside.
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American Vanguard Announces Preliminary Unaudited Full Year 2022 Financial Highlights
NEWPORT BEACH, Calif.--( BUSINESS WIRE )--American Vanguard Corporation (NYSE: AVD), today announced certain key preliminary and unaudited financial results for the full year ended December 31, 2022.
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American Vanguard Corporation Acquires Assets of American Bio-Systems
NEWPORT BEACH, Calif.--( BUSINESS WIRE )--AMGUARD™ Environmental Technologies (“AMGUARD”), the specialty markets division of AMVAC Chemical Corporation, a wholly owned subsidiary of American Vanguard Corporation (NYSE:AVD), announced today the acquisition of the product and trademark assets of American Bio-Systems, founded in 1996 as a manufacturer of proprietary-formula microbial cleaning products BioMop-Plus® and DrainGel®.
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The 7 Best Fertilizer Stocks to Buy for 2023
The best fertilizer stocks to buy shot up the charts last year, albeit for astoundingly horrific reasons. As the world's top fertilizer exporter, Russia played an integral role in the broader food supply chain.
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American Vanguard's AMVAC® GreenSolutions™ Launches BioWake™ Dual-Use Seed Lubricant
NEWPORT BEACH, Calif.--( BUSINESS WIRE )--American Vanguard Corporation (NYSE: AVD) announced today that AMVAC® , an American Vanguard Company and a global technology solutions provider in agriculture, has added BioWake™ dual-use biological seed lubricant to its GreenSolutions™ biological product portfolio.
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American Vanguard Raises Quarterly Dividend By 20%
NEWPORT BEACH, Calif.--( BUSINESS WIRE )--American Vanguard Corporation (NYSE: AVD) announced that its Board of Directors has declared a cash dividend in the amount of $0.03 per share of the company's common stock to shareholders of record as of December 28, 2022, for distribution on January 11, 2023.
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American Vanguard Corp (AVD) Q3 2022 Earnings Call Transcript
American Vanguard Corp (NYSE:AVD ) Q3 2022 Earnings Conference Call November 8, 2022 4:30 PM ET Company Participants Timothy Donnelly - General Counsel, Chief Administrative Officer & Secretary Eric Wintemute - Chairman & CEO David Johnson - VP, CFO & Treasurer Ulrich Trogele - COO & EVP Conference Call Participants Gerard Sweeney - ROTH Capital Partners Wayne Pinsent - Gabelli Funds Christopher Kapsch - Loop Capital Markets Operator Welcome to the American Vanguard Corporation's Third Quarter 2022 Financial Results Conference Call and webcast. [Operator Instructions].
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American Vanguard Reports Third Quarter and Nine-Month 2022 Results
NEWPORT BEACH, Calif.
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American Vanguard Secures Important Product Registration in Brazil
NEWPORT BEACH, Calif.
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American Vanguard Schedules 2022 Third Quarter Earnings Release and Conference Call for Tuesday, November 8th
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD), today announced that it will report financial results for the third quarter ended September 30, 2022, on Tuesday, November 8, 2022 after the close of the stock market. Eric Wintemute, Chairman & CEO, Bob Trogele, COO and David T. Johnson, CFO, will conduct a conference call focusing on operating performance and financial results at 4:30 pm ET / 1:30 pm PT on Tuesday, November 8, 2022. Interested parties may participate in the call by dialing 201-493-6744, please dial in 10 minutes before the scheduled starting time and ask for the American Vanguard call. The conference call will also be webcast live via the News and Media section of the Company’s web site at www.american-vanguard.com. To listen to the live webcast, go to the web site at least 15 minutes early to register, download and install any necessary audio software. If you are unable to listen live, the conference call will be archived on the Company’s web site. About American Vanguard American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and nutrition, turf and ornamentals management, commercial and consumer pest control. American Vanguard is included on the Russell 2000® & Russell 3000® Indexes and the Standard & Poors Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com. In its public commentary, the Company may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.
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AMVAC® and NewLeaf Symbiotics® Partner to Bring Biological Solutions to North American Crop Markets
NEWPORT BEACH, Calif.
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American Vanguard Announces $20MM Accelerated Share Repurchase
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced that it has entered into an accelerated share repurchase (“ASR”) plan under the terms of which it will repurchase $20 million worth of its common stock. This will be in addition to its existing 10b5-1 repurchase plan dated March 14, 2022. Chairman and CEO, Eric G. Wintemute, commented, “We started off the year strongly and, until the day of our last earnings call, our share price had been appreciat
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American Vanguard Corporation (AVD) CEO Eric Wintemute on Q1 2022 Results - Earnings Call Transcript
American Vanguard Corporation (NYSE:AVD ) Q2 2022 Earnings Conference Call August 9, 2022 4:30 PM ET Company Participants William Kuser - Director of IR Eric Wintemute - Chairman and CEO David Johnson - CFO Ulrich Trogele - COO Conference Call Participants Gerry Sweeney - ROTH Capital Chris Kapsch - Loop Capital Operator Greetings. Welcome to the American Vanguard Corporation Second Quarter 2022 Financial Results Conference Call and Webcast.
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American Vanguard Corrects Third Party Errors reporting on Its Full Year 2022 EBITDA Expectations and Second Quarter & Mid-Year 2022 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today made the following clarifying comments regarding the misreporting of its financial results by third parties yesterday. At about the time the Company issued its earnings release for the three- and six-month periods ended June 30, 2022 (prior to trading on August 9, 2022), Bloomberg inexplicably reduced consensus EBITDA estimates for full-year 2022 from $75 million to $50.8 million. It appears that Bloomberg m
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American Vanguard Reports Second Quarter & Midyear 2022 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE: AVD) today announced financial results for the second quarter and six months ended June 30, 2022. Fiscal 2022 Second Quarter Financial Highlights – versus Fiscal 2021 Second Quarter: Net sales were $148 million in 2022, compared to $135 million in 2021 Net income was $6.8 million in 2022, compared to $5.1 million in 2021 Earnings per diluted share of $0.23 in 2022, compared to $0.17 in 2021 Adjusted EBITDA1 of $19.7 million in 2022, compared to $16.5 million in 2021 Fiscal 2022 Mid-Year Financial Highlights – versus Fiscal 2021 Mid-Year: Net sales were $298 million in 2022, compared to $251 million in 2021 Net income was $16.8 million in 2022, compared to $8.2 million in 2021 Earnings per diluted share of $0.55 in 2022, compared to $0.27 in 2021 Adjusted EBITDA1 of $42.5 million in 2022, compared to $30.3 million in 2021 Eric Wintemute, Chairman and CEO of American Vanguard stated: “Conditions within our agricultural markets continue to be favorable with consistently high commodity prices, a strong farm economy and, for US-based companies, a strong US dollar. Having built a portfolio of products that reaches across multiple crops – including corn, soybeans, cotton, potatoes, and high-value fruits and vegetables – we were better able to cross-sell to growers and enjoyed strong demand for our products, both domestically and abroad. Our focused efforts to increase prices and more fully exploit our manufacturing assets enabled us to achieve higher margins despite inflation and supply chain challenges. Within this context, we recorded strong results for the second quarter and first half of 2022, including higher sales and improved profitability.” Mr. Wintemute continued: “Our second quarter improvement was led by our international business, which generated higher sales of soil fumigants, foliar and soil insecticides, fungicides and micronutrient products across multiple regions. Our domestic crop business enjoyed strong demand for our expanding portfolio of herbicides, partially offset by lower soil fumigant sales due to drought conditions in the West and Southwest, where water allocation has been implemented. During the second quarter of 2022, our U.S. non-crop business experienced relatively steady demand in mosquito control, commercial pest applications and horticulture/ornamental products.” Mr. Wintemute concluded: “Looking forward, we believe that our Company is situated well in both domestic and international markets and are consequently optimistic, even with weather- and economy-related variables, about meeting or exceeding our previously announced performance targets for FY 2022, including revenue growth between 8% and 11%, gross profit margins of 38-40% of net sales, operating expenses within the range of 31-33% of net sales and a year-over-year net income increase of between 60% and 70%. We look forward to giving you a more detailed presentation during our upcoming earnings call.” Conference Call Eric Wintemute, Chairman & CEO, Bob Trogele, EVP & COO and David T. Johnson, VP & CFO, will conduct a conference call focusing on the financial results and strategic themes…at 4:30 pm ET on August 9, 2022. Interested parties may participate in the call by dialing 201-493-6744. Please call in 10 minutes before the call is scheduled to begin and ask for the American Vanguard call. The conference call will also be webcast live via the News and Media section of the Company’s web site at www.american-vanguard.com. To listen to the live webcast, go to the web site at least 15 minutes early to register, download and install any necessary audio software. If you are unable to listen live, the conference call will be archived on the Company’s web site. About American Vanguard American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000® and Russell 3000® Indexes and the Standard & Poor’s Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com. The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release. AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) ASSETS June 30, December 31, 2022 2021 Current assets: Cash and cash equivalents $ 22,057 $ 16,285 Receivables: Trade, net of allowance for doubtful accounts of $4,411 and $3,938, respectively 165,711 149,326 Other 13,208 9,595 Total receivables, net 178,919 158,921 Inventories 182,203 154,306 Prepaid expenses 16,368 12,488 Income taxes receivable 523 — Total current assets 400,070 342,000 Property, plant and equipment, net 67,453 66,111 Operating lease right-of-use assets 24,449 25,386 Intangible assets, net 191,560 197,841 Goodwill 46,997 46,260 Other assets 13,099 16,292 Deferred income tax assets, net 16 270 Total assets $ 743,644 $ 694,160 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current installments of other liabilities $ 1,367 $ 802 Accounts payable 86,944 67,140 Customer prepayments 272 63,064 Accrued program costs 99,152 63,245 Accrued expenses and other payables 20,180 20,745 Income taxes payable — 3,006 Current operating lease liabilities 5,029 5,059 Total current liabilities 212,944 223,061 Long-term debt, net 100,779 52,240 Long-term operating lease liabilities 19,852 20,780 Other liabilities, net of current installments 5,584 5,335 Deferred income tax liabilities, net 19,651 20,006 Total liabilities 358,810 321,422 Commitments and contingent liabilities Stockholders' equity: Preferred stock, $.10 par value per share; authorized 400,000 shares; none issued — — Common stock, $.10 par value per share; authorized 40,000,000 shares; issued 34,443,234 shares at June 30, 2022 and 34,248,218 shares at December 31, 2021 3,445 3,426 Additional paid-in capital 103,456 101,450 Accumulated other comprehensive loss (12,768 ) (13,784 ) Retained earnings 319,672 304,385 Less treasury stock at cost, 3,694,050 shares at June 30, 2022 and 3,361,040 shares at December 31, 2021 (28,971 (22,739 Total stockholders’ equity 384,834 372,738 Total liabilities and stockholders' equity $ 743,644 $ 694,160 AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) For the Three Months For the Six Months Ended June 30, Ended June 30, 2022 2021 2022 2021 Net sales $ 148,084 $ 134,610 $ 297,519 $ 250,765 Cost of sales (88,305 ) (82,471 ) (176,547 ) (153,495 ) Gross profit 59,779 52,139 120,972 97,270 Operating expenses (48,966 ) (43,080 ) (95,410 ) (84,524 ) Adjustment to bargain purchase gain on business acquisition — (88 ) — (121 ) Operating income 10,813 8,971 25,562 12,625 Change in fair value of an equity investment (486 ) (295 ) (403 ) 771 Other income — — — 672 Interest expense, net (772 ) (1,013 ) (1,170 ) (1,959 ) Income before provision for income taxes and loss on equity method investment 9,555 7,663 23,989 12,109 Income tax expense (2,725 ) (2,445 ) (7,224 ) (3,807 ) Income before loss on equity method investment 6,830 5,218 16,765 8,302 Loss on equity method investment — (74 ) — (87 ) Net income $ 6,830 $ 5,144 $ 16,765 $ 8,215 Earnings per common share—basic $ .23 $ .17 $ .57 $ .28 Earnings per common share—assuming dilution $ .23 $ .17 $ .55 $ .27 Weighted average shares outstanding—basic 29,602 29,930 29,639 29,834 Weighted average shares outstanding—assuming dilution 30,225 30,499 30,289 30,511 AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES ANALYSIS OF SALES (In thousands) (Unaudited) For the three months ended June 30, 2022 2021 Change % Change Net sales: U.S. crop $ 63,195 $ 62,575 $ 620 1 % U.S. non-crop 21,316 21,488 (172 ) -1 % U.S. total 84,511 84,063 448 1 % International 63,573 50,547 13,026 26 % Net sales: $ 148,084 $ 134,610 $ 13,474 10 % Gross profit: U.S. crop $ 29,753 $ 26,805 $ 2,948 11 % U.S. non-crop 10,049 9,782 267 3 % U.S. total 39,802 36,587 3,215 9 % International 19,977 15,552 4,425 28 % Total gross profit: $ 59,779 $ 52,139 $ 7,640 15 % For the six months ended June 30, 2022 2021 Change % Change Net sales: U.S. crop $ 151,388 $ 117,330 $ 34,058 29 % U.S. non-crop 34,712 38,941 (4,229 ) -11 % U.S. total 186,100 156,271 29,829 19 % International 111,419 94,494 16,925 18 % Net sales: $ 297,519 $ 250,765 $ 46,754 19 % Gross profit: U.S. crop $ 70,098 $ 48,076 $ 22,022 46 % U.S. non-crop 16,014 19,165 (3,151 ) -16 % U.S. total 86,112 67,241 18,871 28 % International 34,860 30,029 4,831 16 % Total gross profit: $ 120,972 $ 97,270 $ 23,702 24 % AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) For the Six Months Ended June 30, 2022 2021 Cash flows from operating activities: Net income $ 16,765 $ 8,215 Adjustments to reconcile net income to net cash used in operating activities: Depreciation and amortization of property, plant and equipment and intangible assets 11,004 10,697 Amortization of other long-term assets 1,739 2,044 Loss on disposal of property, plant and equipment 256 — Accretion of discounted liabilities 17 (11 ) Amortization of deferred loan fees 139 162 Provision for bad debts 470 945 Loan principal and interest forgiveness — (672 ) Fair value adjustment to contingent consideration 635 1,013 Stock-based compensation 2,836 3,598 Change in deferred income taxes 109 (353 ) Change in fair value of an equity investment 403 (771 ) Loss on equity method investment — 87 Adjustment to bargain purchase gain on business acquisition — 121 Net foreign currency adjustments (20 ) (145 ) Changes in assets and liabilities associated with operations: Increase in net receivables (18,645 ) (25,317 ) Increase in inventories (27,774 ) (11,464 ) Increase in prepaid expenses and other assets (3,652 ) (3,696 ) (Increase) decrease in income tax receivable/payable, net (3,526 ) 1,374 (Decrease) in net operating lease liability (21 ) (120 ) Increase in accounts payable 19,439 6,190 Decrease in customer prepayments (62,789 ) (30,407 ) Increase in accrued program costs 35,987 19,098 (Decrease) increase in other payables and accrued expenses (602 ) 507 Net cash used in operating activities (27,230 ) (18,905 ) Cash flows from investing activities: Capital expenditures (5,654 ) (5,075 ) Proceeds from disposal of property, plant and equipment 27 — Acquisition of product line — (10,000 ) Intangible assets (1,044 ) (241 ) Investments — (184 ) Net cash used in investing activities (6,671 ) (15,500 ) Cash flows from financing activities: Payments under line of credit agreement (56,600 ) (24,226 ) Borrowings under line of credit agreement 105,000 66,000 Payment of contingent consideration — (250 ) Net receipt from the issuance of common stock under ESPP 436 340 Net receipt from the exercise of stock options 765 167 Payment for tax withholding on stock-based compensation awards (2,012 ) (2,900 ) Repurchase of common stock (6,232 ) — Payment of cash dividends (1,330 ) (1,188 ) Net cash provided by financing activities 40,027 37,943 Net increase in cash and cash equivalents 6,126 3,538 Effect of exchange rate changes on cash and cash equivalents (354 ) 98 Cash and cash equivalents at beginning of period 16,285 15,923 Cash and cash equivalents at end of period $ 22,057 $ 19,559 AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES UNAUDITED RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Net income, as reported $ 6,830 $ 5,144 $ 16,765 $ 8,215 Provision for income taxes 2,725 2,445 7,224 3,807 Interest expense, net 772 1,013 1,170 1,959 Depreciation and amortization 6,271 6,138 12,743 12,741 Stock compensation 1,273 1,806 2,836 3,598 Proxy contest activities 1,785 — 1,785 — Adjusted EBITDA2 $ 19,656 $ 16,546 $ 42,523 $ 30,320 1 Adjusted earnings before interest, taxes, depreciation, amortization, non-cash stock compensation, and proxy contest activities. Adjusted EBITDA is not a financial measure calculated and presented in accordance with U.S. generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), operating income (loss) or any other financial measure so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. The items excluded from Adjusted EBITDA are detailed in the reconciliation attached to this news release. Other companies (including the Company’s competitors) may define Adjusted EBITDA differently. 2 Adjusted earnings before interest, taxes, depreciation, amortization, non-cash stock compensation, and proxy contest activities. Adjusted EBITDA is not a financial measure calculated and presented in accordance with U.S. generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), operating income (loss) or any other financial measures so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. We provide these measures because we believe that they provide helpful comparisons to other companies in our industry and peer group. The items excluded from Adjusted EBITDA are detailed in the reconciliation attached to this news release. Other companies (including the Company’s competitors) may define Adjusted EBITDA differently.
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