American Vanguard Corp Stock Price, News & Analysis

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%.

American Vanguard Corporation (NYSE: AVD) will report its financial results for Q2 2022 on August 9, 2022, after market close. A conference call featuring Chairman & CEO Eric Wintemute, COO Bob Trogele, and CFO David T. Johnson is scheduled for 4:30 PM ET. Interested parties can join by calling 201-493-6744 or attending the live webcast on the company’s website. The session will provide insights into the company’s operating performance and financial health.

American Vanguard Corp. (NYSE:AVD) held its Annual Meeting of Stockholders on June 1, 2022, where nine nominees were elected to the board. The company ratified BDO USA, LLP as its accounting firm for 2022 and amended its equity incentive plan by adding 725,000 shares. A cash dividend of $0.025 per share was declared, with distribution on July 8, 2022. The company reported strong first-quarter performance and aims to maintain effective communication with shareholders.

Cruiser Capital Master Fund LP, a major shareholder of American Vanguard (NYSE: AVD), announced that stockholders voted to replace three incumbent directors with Cruiser’s nominees: Dr. Mark Bassett, Pat Gottschalk, and Keith M. Rosenbloom. This decisive vote signals stockholders' desire for operational changes to enhance the company's performance. Cruiser Capital expressed gratitude to supportive shareholders and readiness to collaborate with the board to drive value for all stakeholders.

Cruiser Capital Master Fund, a top ten shareholder of American Vanguard Corporation (NYSE: AVD), owning 2.5% of shares, expresses disappointment at the board's alleged disinformation efforts. Cruiser claims transparency in its interactions and criticizes the board for focusing on distractions instead of enhancing company value. Calling for support of its slate of nominees, Cruiser highlights endorsements from proxy advisory firms ISS and Glass Lewis. The firm emphasizes the potential for operational improvements to generate substantial shareholder value.

American Vanguard Corporation (NYSE: AVD) announced that Cruiser Capital is seeking co-investors for an undisclosed investment strategy related to AVD. The Company urges stockholders to vote 'FOR ALL' of its nine director nominees on the WHITE proxy card during the upcoming Annual Meeting on June 1, 2022. The Board emphasizes the importance of transparency regarding Cruiser's proposal and recommends disregarding any proxy cards from Cruiser Capital. A definitive proxy statement has been filed with the SEC, and shareholders are advised to review it for important information.