AVALON HOLDINGS CORPORATION ANNOUNCES THIRD QUARTER RESULTS

Rhea-AI Summary

Avalon Holdings Corporation (NYSE Amex: AWX) reported third-quarter 2025 results on November 7, 2025. Q3 net operating revenues were $25.7 million versus $24.2 million year‑ago. Q3 net income attributable to common shareholders was $1.9 million, or $0.49 per share, versus $1.8 million, or $0.47 per share, in Q3 2024.

For the first nine months of 2025, net operating revenues were $62.1 million versus $66.2 million a year earlier. Nine‑month net income attributable fell to approximately $0.7 million (basic EPS $0.17) from $1.8 million (basic EPS $0.47) in the prior year. Balance sheet highlights include cash and cash equivalents $4.55M and total assets of $90.69M as of September 30, 2025.

Positive

• Cash and cash equivalents increased to $4.55M (up ~62% vs Dec 31, 2024)
• Total current assets rose to $20.17M (up ~39% vs Dec 31, 2024)
• Waste management operating costs for nine months fell to $25.33M (down ~10.7% vs 2024)

Negative

• Nine‑month net income attributable declined to $0.677M (down ~62.7% vs 2024)
• Nine‑month basic net income per share fell to $0.17 (down ~63.8% vs 2024)
• Total current liabilities increased to $19.90M (up ~28.6% vs Dec 31, 2024)

Insights

Equity Analyst

Q3 shows small sequential improvement in quarterly revenue and EPS, but nine‑month results lag last year; working capital shifts stand out.

Quarterly net operating revenues rose to $25.7 million from $24.2 million, and net income attributable to common shareholders increased to $1.9 million from $1.8 million, yielding basic EPS of $0.49 versus $0.47 a year earlier. The business mix shows higher waste management revenue for the quarter ($12.918 million vs $11.461 million) and stable golf‑related revenues, while waste operating costs also increased, leaving operating income roughly flat at $2.346 million versus $2.274 million.

For the nine months, net operating revenues fell to $62.1 million from $66.2 million and net income attributable to common shareholders declined to approximately $0.7 million from $1.8 million, with basic EPS down to $0.17 from $0.47. Balance sheet changes are notable: cash and cash equivalents rose to $4.551 million and accounts receivable increased to $12.498 million, while deferred membership dues revenue grew to $4.587 million. These shifts affect short‑term liquidity and working capital needs and merit monitoring over the next two quarters.

Watch the following near term: the trajectory of accounts receivable collection and deferred dues (short horizon: next Q4 2025), margin trends in waste management operating costs versus revenue, and whether nine‑month revenue and earnings recovery resumes in the remainder of 2025. All observations strictly reflect the disclosed figures and comparisons.

WARREN, Ohio, Nov. 7, 2025 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the third quarter of 2025.

Net operating revenues in the third quarter of 2025 were $25.7 million compared with $24.2 million in the third quarter of 2024. The Company recorded net income attributable to Avalon Holdings Corporation common shareholders of $1.9 million in the third quarter of 2025 compared with net income attributable to Avalon Holdings Corporation common shareholders of $1.8 million in the third quarter of 2024. For the third quarter of 2025, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.49 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.47 in the third quarter of 2024.

For the first nine months of 2025, net operating revenues were $62.1 million compared with $66.2 million for the first nine months of 2024. The Company recorded a net income attributable to Avalon Holdings Corporation common shareholders of approximately $0.7 million in the first nine months of 2025 compared with net income attributable to Avalon Holdings Corporation common shareholders of $1.8 million in the first nine months of 2024. For the first nine months of 2025, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.17 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.47 in the first nine months of 2024.

Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalon Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated resort amenities, four golf courses and related country clubs and a multipurpose recreation center.

 

AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except for per share amounts)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Net operating revenues:
Waste management services	$          12,918		$          11,461		$          32,338		$          36,151
Food, beverage and merchandise sales	4,553		4,615		10,337		10,622
Other golf and related operations	8,275		8,159		19,392		19,377
Total golf and related operations	12,828		12,774		29,729		29,999
Total net operating revenues	25,746		24,235		62,067		66,150
Costs and expenses:
Waste management services operating costs	10,259		8,949		25,330		28,372
Cost of food, beverage and merchandise	1,958		2,010		4,688		4,717
Golf and related operations operating costs	7,425		7,308		19,401		18,925
Depreciation and amortization expense	932		975		2,867		2,957
Selling, general and administrative expenses	2,826		2,719		7,835		7,970
Operating income	2,346		2,274		1,946		3,209
Other income (expense):
Interest expense, net	(512)		(502)		(1,532)		(1,531)
Other income, net	-		-		-		7
Income before income taxes	1,834		1,772		414		1,685
Provision for income taxes	45		42		100		126
Net income	1,789		1,730		314		1,559
Less net loss attributable to non-controlling interest in subsidiary	(113)		(110)		(363)		(256)
Net income attributable to Avalon Holdings Corporation common shareholders	$            1,902		$            1,840		$               677		$            1,815
Income per share attributable to Avalon Holdings Corporation common shareholders:
Basic net income per share	$              0.49		$              0.47		$              0.17		$              0.47
Weighted average shares outstanding - basic	3,899		3,899		3,899		3,899

 

AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands)
	September 30,		December 31,
	2025		2024
Assets
Current Assets:
Cash and cash equivalents	$              4,551		$              2,803
Accounts receivable, net	12,498		8,595
Unbilled membership dues receivable	814		582
Inventories	1,686		1,558
Prepaid expenses	606		1,003
Other current assets	15		15
Total current assets	20,170		14,556
Property and equipment, net	54,454		55,582
Property and equipment under finance leases, net	6,230		5,647
Operating lease right-of-use assets	1,078		1,383
Restricted cash	8,699		8,958
Noncurrent deferred tax asset	27		27
Other assets, net	28		33
Total assets	$             90,686		$             86,186
Liabilities and Equity
Current liabilities:
Current portion of long term debt	$                 604		$                 575
Current portion of obligations under finance leases	362		201
Current portion of obligations under operating leases	363		365
Accounts payable	9,605		7,116
Accrued payroll and other compensation	1,731		1,064
Accrued taxes	638		594
Deferred membership dues revenue	4,587		3,524
Other liabilities and accrued expenses	2,005		2,024
Total current liabilities	19,895		15,463
Long term debt, net of current portion	28,190		28,646
Line of credit	3,200		3,200
Obligations under finance leases, net of current portion	1,220		707
Obligations under operating leases, net of current portion	715		1,018
Asset retirement obligation	100		100
Equity:
Total Avalon Holdings Corporation Shareholders' Equity	38,711		38,034
Non-controlling interest in subsidiary	(1,345)		(982)
Total shareholders' equity	37,366		37,052
Total liabilities and equity	$             90,686		$             86,186

 

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SOURCE Avalon Holdings Corporation

FAQ

What were Avalon Holdings (AWX) third-quarter 2025 revenues and EPS?

AWX reported Q3 2025 net operating revenues $25.7M and basic EPS $0.49.

How did AWX nine‑month 2025 net income compare with 2024?

Nine‑month 2025 net income attributable was about $0.7M versus $1.8M in 2024.

What balance sheet changes did Avalon (AWX) report as of Sept 30, 2025?

AWX reported cash $4.55M, total current assets $20.17M, and total assets $90.69M.

Did AWX show any material cost changes in the first nine months of 2025?

Yes; waste management operating costs for nine months fell to $25.33M, a decline of ~10.7% year‑over‑year.

How did AWX liabilities move through September 30, 2025?

Total current liabilities increased to $19.90M from $15.46M at year‑end 2024 (up ~28.6%).

What is AWX’s basic weighted average shares outstanding used to compute EPS?

Weighted average basic shares outstanding were 3,899 for both periods reported.