American Vanguard Q1 net sales up 8% to $135M; adjusted EBITDA up 35% to $15.5M; guides FY adjusted EBITDA $60-70M

AMERICAN VANGUARD CORP

2024-Q1 EPS reported $0.06 revenue$135,143,000

Net sales $135M (+8% YoY); diluted EPS $0.06 vs $0.07; net income $1.6M vs $1.9M.
Adjusted EBITDA $15.5M (+35%); operating income $6.1M (+87%); transformation program targets $15M annualized EBITDA by 2026.
FY guidance: net sales growth 6-9%, adjusted EBITDA $60-70M.
Voluntarily suspended Dacthal herbicide sales pending EPA label resolution; cites USEPA concerns.
Growth across all three segments (US Crop, US Non-crop, International); destocking subsiding but channel remains cautious.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN VANGUARD CORP reported the first quarter ended March 31, 2024 results: revenue $135 million, net income $1.6 million, EPS $0.06. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $135 million
Net income: $1.6 million
EPS: $0.06
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(NYSE: AVD) today announced financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights – versus First Quarter 2023: • Net sales of $135 million vs. $125 million • Adjusted EBITDA 1 of $15.5 million vs. $11.5 million • Operating Income of $6.1 million vs. $3.3 million • Net income of $1.6 million vs. $1.9 million •

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Source: SEC EDGAR

accession 0001193125-24-136157

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