American Vanguard Corp Stock Price, News & Analysis

American Vanguard (NYSE: AVD) has received a notice from the New York Stock Exchange regarding non-compliance with Section 802.01E of the NYSE Listed Company Manual due to delayed filing of its 2024 Annual Report (Form 10-K). The company was unable to file within the 15-day extension period under Rule 12b-25, citing the need for additional time, resources, and effort to complete its year-end reporting process.

The company is actively working to complete the necessary documentation and expects to maintain its NYSE listing while finalizing the Form 10-K. Additionally, AVD has secured an amendment to its credit facility with senior lenders, extending the deadline for providing audited financial statements from 90 to 120 days after December 31, 2024.

American Vanguard (NYSE:AVD) has released preliminary Q4 and full-year 2024 results. The company reported Q4 net sales of $169M (vs $172M in Q4 2023) and Adjusted EBITDA of $18M (vs $22M in 2023). For full-year 2024, net sales were approximately $550M ($563M excluding Dacthal recall impact) compared to $579M in 2023, with Adjusted EBITDA of $42M vs $53M.

Key achievements include reducing inventory by $47M and debt by $22M in Q4. The company recorded approximately $118M in non-recurring charges in 2024 as part of management's repositioning efforts. For 2025, AVD projects revenue of $565-585M and Adjusted EBITDA of $45-52M, with expected capex of $10M.

CEO Douglas Kaye aims to double the current 7.5% EBITDA margin over the next 3-4 years, focusing on simplifying operations and delivering profitable growth.

American Vanguard (NYSE: AVD) has scheduled its fourth quarter 2024 financial results announcement for March 14, 2025, before market opening. The company will host a conference call and webcast at 9:00 a.m. ET / 6:00 a.m. PT on the same day to discuss operating performance and financial results. Investors can access the live webcast through the company's website News and Media section or via the provided webcast link. An archived version of the conference call will be available on the company's investor relations webpage for those unable to attend the live event.

American Vanguard's crop business unit, AMVAC, has entered into a regional distribution agreement with DPH Biologicals, expanding its GreenSolutions portfolio and increasing biological products availability across the U.S. Under the long-term agreement, AMVAC will distribute DPH Bio's key products, including TerraTrove SP-1 Classic, TerraTrove AmplAphex biofertilizers, and BellaTrove Companion Maxx, an EPA-approved biocontrol product.

The partnership allows DPH Bio to strengthen its U.S. market access through AMVAC's commercial and operational teams, initially focusing on specialty crop markets. AMVAC will service DPH Bio's existing customers in the Western and Southern regions, providing enhanced commercial and technical support. The collaboration combines DPH Bio's products with AMVAC's GreenSolutions portfolio, creating an industry-leading offering for growers, distributors, and retail partners.

American Vanguard (NYSE:AVD) announced that its new CEO, Douglas 'Dak' Kaye, III, will participate in an investor forum hosted by Lake Street Capital on January 16, 2025 at 11 a.m. Eastern Time. This will mark Kaye's first presentation to the financial community as AVD's CEO. Kaye brings over 20 years of executive leadership experience, having previously served as North American President of Albaugh, , a global developer, manufacturer, and marketer of crop protection products.

American Vanguard (AVD) announced changes to its Board of Directors. Debra Edwards, who served since 2011 as Chair of the Compensation Committee and on the Risk and Finance Committees, is retiring from the board. The company appointed Carmen Tiu effective December 11, 2024, to fill the vacancy. Tiu, who will serve on the Risk and Finance Committees, brings extensive experience from her tenure at Dow AgroSciences and Corteva AgroSciences, particularly in regulatory strategy, food standards, risk, and government affairs. Her credentials include over 30 scientific publications, 70 scientific reports, and hundreds of regulatory submissions.

American Vanguard (AVD) has appointed Douglas A. ('Dak') Kaye, III as its new Chief Executive Officer, effective December 9, 2024. Kaye brings extensive experience from his 13-year tenure at Albaugh, , where he most recently served as President, North America. He previously held positions as Group Chief Commercial Officer and President of the European region.

The appointment follows a comprehensive search process and aims to drive the company's transformation goals, including achieving a 15% adjusted EBITDA margin. Kaye will succeed the Office of CEO (OCEO), which has been in place since July 15, 2024, and will be based at global headquarters starting January 6, 2025.

American Vanguard reported Q3 2024 financial results with net sales of $118.3 million ($130.7 million excluding Dacthal recall impact) compared to $149.5 million in Q3 2023. The company maintained its full-year 2024 Adjusted EBITDA guidance of $40-50 million despite reporting Q3 Adjusted EBITDA of $1.8 million vs $11.4 million year-over-year. Non-crop revenues grew 17% and Green Solutions revenues increased 18%. The company reduced debt by $32.5 million to $179 million and raised expected transformation benefits to $20 million from $15 million. Q3 EPS was $(0.92) compared to $(0.01) in Q3 2023.

American Vanguard (AVD) has scheduled its third quarter 2024 financial results announcement for Monday, November 11, with the conference call set for 4:30 pm ET/ 1:30 pm PT. Acting CEO Tim Donnelly, CFO David T. Johnson, and Board Member Mark Bassett will lead the presentation. The webcast will be available on the company's website and archived for one year for future access.