AVALON HOLDINGS CORPORATION ANNOUNCES THIRD QUARTER RESULTS

Quarterly operating income increased despite lower revenue, with operating costs falling in both waste management and golf operations.

Rhea-AI Summary

Avalon Holdings (AWX) reported third-quarter 2026 net income attributable to common shareholders of $2.685 million, higher than a year earlier. Basic earnings per share rose to $0.69 from $0.49, while net operating revenues fell to $24.296 million from $25.746 million. Operating income increased to $3.165 million from $2.346 million.

Quarterly waste management revenue declined to $11.098 million from $12.918 million; golf and related revenue increased to $13.198 million from $12.828 million. For the first nine months, revenue rose to $62.852 million from $62.067 million, and common-shareholder net income increased to $2.334 million from $677,000. Basic earnings per share reached $0.60 versus $0.17. At September 30, cash and cash equivalents were $6.306 million, compared with $4.114 million at December 31, 2025.

19 points · 0 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

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0 major · 7 points

How the balance works

Positive

• Moderate pointThird-quarter common-shareholder net income increased to $2.685 million from $1.902 million in 2025.
• Moderate pointThird-quarter operating income increased to $3.165 million from $2.346 million in 2025.
• Moderate pointNine-month revenue increased to $62.852 million from $62.067 million in 2025.
• Moderate pointNine-month common-shareholder net income increased to $2.334 million from $677,000 in 2025.
• Moderate pointNine-month operating income increased to $3.788 million from $1.946 million in 2025.
• Moderate pointCash and cash equivalents increased to $6.306 million at September 30 from $4.114 million at year-end 2025.
• Moderate pointAvalon shareholders' equity rose to $40.689 million from $38.355 million at year-end 2025.

12 minor points

• Minor pointThird-quarter basic earnings per share rose to $0.69 from $0.49 in 2025.
• Minor pointNine-month basic earnings per share increased to $0.60 from $0.17 in 2025.
• Minor pointThird-quarter golf and related revenue rose to $13.198 million from $12.828 million in 2025.
• Minor pointNine-month golf and related revenue rose to $30.132 million from $29.729 million in 2025.
• Minor pointNine-month waste management revenue increased to $32.720 million from $32.338 million in 2025.
• Minor pointWaste operating costs fell to $8.446 million for the quarter and $24.997 million year-to-date, versus $10.259 million and $25.330 million.
• Minor pointGolf operating costs fell to $7.129 million for the quarter and $18.605 million year-to-date, versus $7.425 million and $19.401 million.
• Minor pointFood, beverage and merchandise costs fell to $1.917 million quarterly and $4.679 million year-to-date, versus $1.958 million and $4.688 million.
• Minor pointDepreciation and amortization fell to $921,000 quarterly and $2.776 million year-to-date, versus $932,000 and $2.867 million.
• Minor pointThird-quarter selling, general and administrative expenses fell to $2.718 million from $2.826 million in 2025.
• Minor pointNet interest expense fell to $509,000 quarterly and $1.517 million year-to-date, versus $512,000 and $1.532 million.
• Minor pointLong-term debt excluding current maturities declined to $27.545 million from $28.032 million at year-end 2025.

Negative

• Moderate pointThird-quarter revenue declined to $24.296 million from $25.746 million in 2025.
• Minor pointThird-quarter waste management revenue fell to $11.098 million from $12.918 million in 2025.
• Minor pointNine-month selling, general and administrative expenses increased to $8.007 million from $7.835 million in 2025.
• Minor pointNine-month disposal losses were $15,000, compared with none in 2025.
• Minor pointNine-month income tax provision increased to $113,000 from $100,000 in 2025.

2 minor points

• Minor pointRestricted cash declined to $7.804 million at September 30 from $8.730 million at year-end 2025.
• Minor pointCurrent long-term debt maturities increased to $645,000 from $614,000 at year-end 2025.

Key Figures

Q3 net operating revenues: $24.296M vs. $25.746M Q3 net income attributable to common shareholders: $2.685M vs. $1.902M Q3 basic net income per share: $0.69 vs. $0.49 +3 more

Q3 net operating revenues

$24.296M vs. $25.746M

Third quarter 2026 vs. third quarter 2025

Q3 net income attributable to common shareholders

$2.685M vs. $1.902M

Third quarter 2026 vs. third quarter 2025

Q3 basic net income per share

$0.69 vs. $0.49

Third quarter 2026 vs. third quarter 2025

Nine-month net operating revenues

$62.852M vs. $62.067M

First nine months of 2026 vs. first nine months of 2025

Nine-month net income attributable to common shareholders

$2.334M vs. $0.677M

First nine months of 2026 vs. first nine months of 2025

Nine-month basic net income per share

$0.60 vs. $0.17

First nine months of 2026 vs. first nine months of 2025

Previous Earnings Reports

2 past events · Latest: Aug 07

Same Type 2 events

1. Aug 07

   Q2 earnings

   24h Move

   +7.7%

   Quarterly revenue and net income rose year over year; first-half loss narrowed.

2. Nov 07

   Q3 earnings

   24h Move

   +6.3%

   Third-quarter revenue and net income rose year over year.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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WARREN, Ohio, Nov. 6, 2026 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the third quarter of 2026.

Net operating revenues in the third quarter of 2026 were $24.3 million compared with $25.7 million in the third quarter of 2025. The Company recorded net income attributable to Avalon Holdings Corporation common shareholders of $2.7 million in the third quarter of 2026 compared with net income attributable to Avalon Holdings Corporation common shareholders of $1.9 million in the third quarter of 2025. For the third quarter of 2026, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.69 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.49 in the third quarter of 2025.

For the first nine months of 2026, net operating revenues were $62.9 million compared with $62.1 million for the first nine months of 2025. The Company recorded a net income attributable to Avalon Holdings Corporation common shareholders of approximately $2.3 million in the first nine months of 2026 compared with net income attributable to Avalon Holdings Corporation common shareholders of $0.7 million in the first nine months of 2025. For the first nine months of 2026, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.60 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.17 in the first nine months of 2025.

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,
	2026		2025		2026		2025
Net operating revenues:
Waste management services	$          11,098		$          12,918		$          32,720		$          32,338
Food, beverage and merchandise sales	4,800		4,553		10,926		10,337
Other golf and related operations	8,398		8,275		19,206		19,392
Total golf and related operations	13,198		12,828		30,132		29,729
Total net operating revenues	24,296		25,746		62,852		62,067
Costs and expenses:
Waste management services operating costs	8,446		10,259		24,997		25,330
Cost of food, beverage and merchandise	1,917		1,958		4,679		4,688
Golf and related operations operating costs	7,129		7,425		18,605		19,401
Depreciation and amortization expense	921		932		2,776		2,867
Selling, general and administrative expenses	2,718		2,826		8,007		7,835
Operating income	3,165		2,346		3,788		1,946
Other income (expense):
Interest expense, net	(509)		(512)		(1,517)		(1,532)
Loss on disposal	-		-		(15)		-
Income before income taxes	2,656		1,834		2,256		414
Provision for income taxes	41		45		113		100
Net income	2,615		1,789		2,143		314
Less net loss attributable to non-controlling interest in subsidiary	(70)		(113)		(191)		(363)
Net income attributable to Avalon Holdings Corporation common shareholders	$            2,685		$            1,902		$            2,334		$               677
Income per share attributable to Avalon Holdings Corporation common shareholders:
Basic net income per share	$              0.69		$              0.49		$              0.60		$              0.17
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,
	2026		2025
Assets
Current Assets:
Cash and cash equivalents	$              6,306		$              4,114
Accounts receivable, net	10,220		9,819
Unbilled membership dues receivable	776		541
Inventories	1,710		1,555
Prepaid expenses	651		919
Other current assets	15		15
Total current assets	19,678		16,963
Property and equipment, net	52,666		53,982
Property and equipment under finance leases, net	6,999		6,267
Operating lease right-of-use assets	1,090		1,379
Restricted cash	7,804		8,730
Noncurrent deferred tax asset	32		32
Other assets, net	28		28
Total assets	$             88,297		$             87,381
Liabilities and Equity
Current liabilities:
Current portion of long term debt	$                 645		$                 614
Current portion of obligations under finance leases	364		384
Current portion of obligations under operating leases	373		362
Accounts payable	6,495		7,984
Accrued payroll and other compensation	1,710		1,244
Accrued taxes	533		660
Deferred membership dues revenue	4,608		3,529
Other liabilities and accrued expenses	1,950		2,054
Total current liabilities	16,678		16,831
Long term debt, net of current portion	27,545		28,032
Line of credit	3,200		3,200
Obligations under finance leases, net of current portion	961		1,248
Obligations under operating leases, net of current portion	717		1,017
Asset retirement obligation	100		100
Equity:
Total Avalon Holdings Corporation Shareholders' Equity	40,689		38,355
Non-controlling interest in subsidiary	(1,593)		(1,402)
Total shareholders' equity	39,096		36,953
Total liabilities and equity	$             88,297		$             87,381

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SOURCE Avalon Holdings Corporation

FAQ

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What were Avalon Holdings' third-quarter 2026 earnings and revenue?

Avalon reported $2.685 million in net income attributable to common shareholders and $24.296 million in revenue. A year earlier, those figures were $1.902 million and $25.746 million, respectively. Basic earnings per share increased to $0.69 from $0.49.

How did Avalon Holdings perform in the first nine months of 2026?

Avalon's nine-month revenue increased to $62.852 million from $62.067 million, while net income attributable to common shareholders rose to $2.334 million from $677,000. Basic earnings per share increased to $0.60 from $0.17.