American Vanguard Q2 EPS $0.23 beats consensus; raises FY22 adj. EBITDA target to $79-81M

AMERICAN VANGUARD CORP

2022-Q2 EPS reported $0.55 revenue$297,519,000

Q2 net sales $148M (+10% YoY); net income $6.8M (+33% YoY); diluted EPS $0.23 vs $0.17 YoY.
Midyear net sales $298M (+19% YoY); net income $16.8M (+105% YoY); EPS $0.55 vs $0.27 YoY.
FY2022 guidance raised: adj. EBITDA $79-81M (highest ever); revenue growth 8-11%; net income up 60-70%.
Corrects Bloomberg error that slashed consensus EBITDA; company reaffirms raised EBITDA target.
Repurchased ~48,000 shares on Aug 9 under 10b5-1 plan; up to 620,000 additional shares available.

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