{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-140690","form_type":"8-K","ticker":"AVD","cik":"0000005981","company_name":"AMERICAN VANGUARD CORP","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.912260+00:00","generated_at":"2026-06-15T07:22:43.330739+00:00","sec_items":["2.02","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"AVD Q1 net sales down 17%, EPS $0.07 vs $0.33 YoY; credit covenant amended","bullets":["Q1 net sales $124.9M (down 17% YoY); net income $1.9M (down 81%); adjusted EBITDA $11.5M (down 50%).","Board amended credit facility: FCCR lowered to 1.0x for 4 quarters ending June 2023; waiver granted for Q1 noncompliance linked to share repurchases.","2023 guidance reaffirmed: net sales $640-652M, adjusted EBITDA $84-86M, net income $32-34M (14-18% EBITDA growth).","Aztec insecticide sales delayed due to Chinese supplier; only ~1/3 of seasonal demand met in Q1.","Non-crop and international sales increased, but higher-margin US crop decline drove profitability drop."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-140690","json":"https://secwatch.observer/filing/0001193125-23-140690.json","markdown":"https://secwatch.observer/filing/0001193125-23-140690.md","text":"https://secwatch.observer/filing/0001193125-23-140690.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/5981/000119312523140690/0001193125-23-140690-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/5981/000119312523140690/d237750d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T07:22:43.330739+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"97a847371272abcf211f97a0a367e9a42fe6a0b6","claim":"AMERICAN VANGUARD CORP reported full year 2023 results: revenue $ 640MM - $652MM, net income $ 32MM - $34MM. Guidance reaffirmed.","evidence_excerpt":"2023 Performance Targets Metric 2023 Range 2022 Actual % Change Net sales $ 640MM - $652MM $ 610MM 5 to 7 % Gross margin % 33 to 35 % 34 % Similar Opex as % of sales 25 to 27 % 25 % Similar Adjusted EBITDA $ 84MM - $86MM $ 73MM 14 to 18 % Net income $ 32MM - $34MM $ 27.5MM 17 to 25 %","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/5981/000119312523140690/0001193125-23-140690-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full year 2023"},{"label":"Revenue","value":"$ 640MM - $652MM"},{"label":"Net income","value":"$ 32MM - $34MM"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"9ac71bee3a0865a5a7ac9a01d1c92b0e276976f8","claim":"AMERICAN VANGUARD CORP reported the quarter ended March 31, 2023 results: revenue $ 124,885, net income $ 1,918, EPS $ 0.07.","evidence_excerpt":"decrease in sales of higher-margin US crop products led to lower overall profitability.” In thousands except for per share data March 31, 2023 March 31, 2022 Change Net sales $ 124,885 $ 149,593 $ (24,708 ) Net income $ 1,918 $ 9,935 $ (8,017 ) EPS $ 0.07 $ 0.33 $ (0.26 ) Adjusted EBITDA 1 $ 11,511 $ 22,867 $ (11,356 ) Mr. Wintemute continued, “Even after taking","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/5981/000119312523140690/0001193125-23-140690-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2023"},{"label":"Revenue","value":"$ 124,885"},{"label":"Net income","value":"$ 1,918"},{"label":"EPS","value":"$ 0.07"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}