American Vanguard Corp Stock Price, News & Analysis

American Vanguard Corporation (NYSE: AVD) has declared a cash dividend of $0.03 per share, reflecting a 20% increase from previous quarters. Shareholders of record as of December 28, 2022, will receive the dividend on January 11, 2023. Chairman Eric W. Wintemute highlighted strong financial performance in 2022 and a positive outlook for 2023 as key factors for the increase. This decision underscores the Board's confidence in the company's financial stability and growth prospects, with past dividends of $0.095 in 2022 and $0.08 in 2021.

American Vanguard Corporation (NYSE: AVD) reported strong financial results for Q3 and the first nine months of 2022. Net sales increased by 3.4% in Q3 to $152 million, while net income rose 21.8% to $6.7 million. For the nine-month period, net sales reached $450 million (13.1% growth) and net income surged 71.5% to $23.5 million. The company attributed growth to high crop prices and strong international sales, particularly in Brazil and Mexico. However, domestic non-crop business faced challenges due to decreased consumer spending.

American Vanguard Corporation (NYSE: AVD) has successfully registered its Counter® insecticide for soybean use in Brazil, the largest agricultural market globally. This soil insecticide effectively combats yield-damaging nematodes and can be integrated with other pest control products. CEO Vitor Cunha noted the product's technical performance and yield enhancement, potentially increasing farmer profitability. Chairman Eric Wintemute emphasized the importance of expanding Counter's international market presence, highlighting its role in the company's precision application technology.

American Vanguard Corporation (NYSE: AVD) announced it will report its financial results for Q3 ended September 30, 2022, on November 8, 2022, after market close. A conference call will follow at 4:30 PM ET to discuss operating performance, featuring CEO Eric Wintemute, COO Bob Trogele, and CFO David T. Johnson. Interested parties can join via phone or live webcast. American Vanguard specializes in crop protection and nutrition, pest control, and is part of Russell 2000® and S&P Small Cap 600 Indexes.

American Vanguard Corporation (NYSE: AVD) has partnered with NewLeaf Symbiotics to enhance its GreenSolutions™ biological product portfolio for the North American crop market starting in 2023. This collaboration will leverage the strengths of both companies to expand current product applications and foster new product development. AMVAC recently achieved a milestone of over 1.2 million acres applied with its GreenSolutions, marking significant growth in the biologicals segment. The partnership aims to improve market penetration and provide innovative solutions for North American farmers.

American Vanguard Corporation (NYSE: AVD) declared a cash dividend of $0.025 per share for shareholders of record as of September 23, 2022, set for distribution on October 7, 2022. This announcement stems from the company's strong financial performance in the first half of 2022, with an adjusted EBITDA forecast between $79 million and $81 million for the fiscal year, marking a potential historic high. The board expresses confidence in the company's growth and commitment to shareholder returns.

American Vanguard Corporation (NYSE: AVD) has announced an accelerated share repurchase (ASR) plan to buy back $20 million of its common stock, complementing its existing 10b5-1 repurchase plan initiated on March 14, 2022. Chairman and CEO, Eric G. Wintemute, expressed confidence in the company’s prospects, noting their strong balance sheet and high expected full-year EBITDA. He attributed recent share price declines to erroneous financial reports by Bloomberg and SeekingAlpha, reinforcing the decision to proceed with the ASR as a strategic investment to enhance shareholder value.

American Vanguard Corporation clarifies misreported financial results by Bloomberg and Seeking Alpha. Bloomberg erroneously reduced the full-year 2022 consensus EBITDA estimate from $75 million to $50.8 million. The company raised its adjusted EBITDA guidance for 2022 to between $79 million and $81 million. Additionally, contrary to Seeking Alpha’s claims, AVD met the Q2 sales consensus of $148 million and EPS of $0.23. The company also repurchased approximately 48,000 shares under its stock repurchase plan.

American Vanguard Corporation (NYSE: AVD) reported strong financial results for Q2 and mid-year 2022, with net sales of $148 million, up from $135 million in Q2 2021, and net income rising to $6.8 million from $5.1 million. Adjusted EBITDA improved to $19.7 million from $16.5 million. For the first half, net sales reached $298 million, up from $251 million, and net income doubled to $16.8 million. The company anticipates continued demand across domestic and international markets, with full-year revenue growth expected between 8% and 11%.