earnings
confidence medium
sentiment positive
materiality 0.75
AVD updates 2022 targets: net income +60-70%, revenue +8-11%; 1H net income +104%
AMERICAN VANGUARD CORP
2022-Q2 EPS reported
$0.55
revenue$297,519,000
- 2022 full-year targets: net income +60-70%, revenue +8-11%, gross margin 38-40%.
- First half 2022 net income increased 104% YoY; revenue up 19%.
- First half adjusted EBITDA increased approximately 40% YoY.
- Target debt-to-EBITDA below 1.0x (ex-acquisitions) and below 2.5x (with acquisitions).
- Interest expense expected similar to 2021; tax rate mid-20% range.