AVALON HOLDINGS CORPORATION ANNOUNCES FIRST QUARTER RESULTS
Rhea-AI Summary
Avalon Holdings Corporation (NYSE Amex:AWX) reported disappointing first quarter 2025 results. Net operating revenues declined to $16.1 million from $18.9 million in Q1 2024. The company's net loss widened to $1.5 million ($0.38 per share) compared to a net loss of $1.0 million ($0.25 per share) in the same period last year.
The decline was primarily driven by the waste management services segment, which saw revenues drop to $9.7 million from $12.5 million year-over-year. The golf and related operations segment remained relatively stable at $6.4 million. Operating costs in waste management decreased to $7.6 million from $9.9 million, while golf operations costs increased slightly to $5.1 million from $4.9 million.
Positive
- Operating costs in waste management services decreased by 23.4% to $7.6 million
- Golf and related operations revenue remained stable at $6.4 million
- Food, beverage and merchandise sales slightly increased to $2.02 million from $2.01 million
Negative
- Net operating revenues declined 14.8% to $16.1 million from $18.9 million
- Net loss widened to $1.5 million from $1.0 million year-over-year
- Waste management services revenue dropped 22.4% to $9.7 million
- Loss per share increased to $0.38 from $0.25 in Q1 2024
- Operating loss more than doubled to $1.15 million from $513,000
News Market Reaction
On the day this news was published, AWX declined 9.33%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Net operating revenues in the first quarter of 2025 were
Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern
AVALON HOLDINGS CORPORATION AND SUBSIDIARIES | ||||
Condensed Consolidated Statements of Operations (Unaudited) | ||||
(in thousands, except for per share amounts) | ||||
Three Months Ended | ||||
March 31, | ||||
2025 | 2024 | |||
Net operating revenues: | ||||
Waste management services | $ 9,677 | $ 12,470 | ||
Food, beverage and merchandise sales | 2,024 | 2,011 | ||
Other golf and related operations | 4,367 | 4,377 | ||
Total golf and related operations | 6,391 | 6,388 | ||
Total net operating revenues | 16,068 | 18,858 | ||
Costs and expenses: | ||||
Waste management services operating costs | 7,582 | 9,897 | ||
Cost of food, beverage and merchandise | 1,012 | 1,025 | ||
Golf and related operations operating costs | 5,097 | 4,873 | ||
Depreciation and amortization expense | 970 | 980 | ||
Selling, general and administrative expenses | 2,558 | 2,596 | ||
Operating loss | (1,151) | (513) | ||
Other income (expense): | ||||
Interest expense, net | (510) | (508) | ||
Other income, net | - | 7 | ||
Loss before income taxes | (1,661) | (1,014) | ||
Provision for income taxes | 25 | 40 | ||
Net loss | (1,686) | (1,054) | ||
Less net loss attributable to non-controlling interest in subsidiaries | (187) | (75) | ||
Net loss attributable to Avalon Holdings Corporation common shareholders | $ (1,499) | $ (979) | ||
Loss per share attributable to Avalon Holdings Corporation common shareholders: | ||||
Basic and diluted net loss per share | $ (0.38) | $ (0.25) | ||
Weighted average shares outstanding - basic and diluted | 3,899 | 3,899 | ||
AVALON HOLDINGS CORPORATION AND SUBSIDIARIES | |||
Condensed Consolidated Balance Sheets (Unaudited) | |||
(in thousands) | |||
March 31, | December 31, | ||
2025 | 2024 | ||
Assets | |||
Current Assets: | |||
Cash and cash equivalents | $ 1,269 | $ 2,803 | |
Accounts receivable, net | 11,358 | 8,595 | |
Unbilled membership dues receivable | 733 | 582 | |
Inventories | 1,846 | 1,558 | |
Prepaid expenses | 1,107 | 1,003 | |
Other current assets | 15 | 15 | |
Total current assets | 16,328 | 14,556 | |
Property and equipment, net | 55,243 | 55,582 | |
Property and equipment under finance leases, net | 5,671 | 5,647 | |
Operating lease right-of-use assets | 1,391 | 1,383 | |
Restricted cash | 8,937 | 8,958 | |
Noncurrent deferred tax asset | 27 | 27 | |
Other assets, net | 34 | 33 | |
Total assets | $ 87,631 | $ 86,186 | |
Liabilities and Equity | |||
Current liabilities: | |||
Current portion of long term debt | $ 584 | $ 575 | |
Current portion of obligations under finance leases | 232 | 201 | |
Current portion of obligations under operating leases | 364 | 365 | |
Accounts payable | 8,419 | 7,116 | |
Accrued payroll and other compensation | 1,283 | 1,064 | |
Accrued taxes | 525 | 594 | |
Deferred membership dues revenue | 5,134 | 3,524 | |
Other liabilities and accrued expenses | 2,089 | 2,024 | |
Total current liabilities | 18,630 | 15,463 | |
Long-term debt, net of current portion | 28,496 | 28,646 | |
Line of credit | 3,200 | 3,200 | |
Obligations under finance leases, net of current portion | 812 | 707 | |
Obligations under operating leases, net of current portion | 1,027 | 1,018 | |
Asset retirement obligation | 100 | 100 | |
Equity: | |||
Total Avalon Holdings Corporation Shareholders' Equity | 36,535 | 38,034 | |
Non-controlling interest in subsidiaries | (1,169) | (982) | |
Total shareholders' equity | 35,366 | 37,052 | |
Total liabilities and equity | $ 87,631 | $ 86,186 | |
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SOURCE Avalon Holdings Corporation
FAQ
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