American Vanguard posts Q3 net loss of $325k; amends credit covenants to ease leverage ratios

AMERICAN VANGUARD CORP

2023-Q3 EPS reported $0.02 revenue$407,191,000

Q3 net sales $149.5M flat YoY; net loss $0.3M vs profit $6.7M a year ago; EPS ($0.01).
Full-year 2023 guidance: sales $580M-$590M (down from $610M in 2022); adj. EBITDA $55M-$59M.
Targeting 8%-12% sales growth and 25%-35% adj. EBITDA growth for 2024.
Amendment to credit facility increases max leverage ratio to 5.5x through Sep 2023, steps down; restricts share repurchases during covenant modification period.
Announced $15M in operating profit and interest savings initiatives and search for Chief Transformation Officer.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMERICAN VANGUARD CORP reported preliminary financial results for the three- and nine-month periods ended September 30, 2023.

Period: the three- and nine-month periods ended September 30, 2023
Result: preliminary results

Exact text from the filing

On November 8, 2023, American Vanguard Corporation (“Registrant”) issued a press release announcing both (a) its preliminary, unaudited financial results for the three- and nine-month periods ended September 30, 2023, and (b) its transformation plans.

View on SEC.gov

Browse all earnings releases →

AMERICAN VANGUARD CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-274480

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.