earnings
confidence high
sentiment neutral
materiality 0.70
American Vanguard prelim FY2022 adj EBITDA $73-75M (prior $80M); Aztec supply shortfall shifts sales to H1 2023
AMERICAN VANGUARD CORP
2022-FY EPS reported
$0.92
revenue$609,615,000
- Preliminary FY2022 adjusted EBITDA expected $73-75M, down from prior guidance of $80M but up 15-18% vs 2021.
- Revenue growth ~10% YoY; gross profit margin ~40%; net debt improved to $31M from $36M at end 2021.
- Q4 performance hurt by raw material shortage for Aztec; supply secured; expects to recoup lost sales in H1 2023.
- Repurchased $34M of common stock in 2022; balance sheet remains strong with debt-to-adj-EBITDA ~0.7x.
- Full year-end conference call scheduled for March 13, 2023 for detailed 2023 outlook.