Every 10-Q that American Vanguard Corp (AVD) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AVD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AVD filings page.
American Vanguard reported weaker results for the quarter ended June 30, 2026. Net sales fell 10% to $116.8 million, driven by lower U.S. crop and international sales, partly offset by 11% growth in U.S. Specialty. Gross profit declined 14% to $34.7 million and gross margin slipped to 30% from 31%.
Operating performance deteriorated from $4.4 million income to a small $0.3 million loss, and higher leverage pushed net interest expense to $9.1 million from $4.5 million. The quarter’s net loss widened to $9.9 million, or $0.34 per share, versus a $0.8 million loss a year earlier. For the first six months, sales were down 2% to $240.3 million, but gross margin improved to 30% from 29%; net loss increased to $14.0 million.
Cash from operations was a use of $60.5 million for the first half, reflecting higher receivables, lower customer prepayments and program payouts, and transformation and plant reorganization costs linked to shifting production from the Los Angeles facility to the Axis site. This was funded by new term loans; total net indebtedness rose to $267.6 million, with a weighted-average interest rate of 12.0%, and cash increased to $43.9 million. The new First and Second Lien Term Loans include leverage and minimum cash covenants and restrict dividends and stock repurchases. Management states it is in covenant compliance and expects existing cash and operating cash flow to cover liquidity needs over the next twelve months.
American Vanguard Corporation reported improved but still negative results for the quarter ended March 31, 2026. Net sales rose 7% to $123,568, led by 17% growth in U.S. crop and 6% growth in U.S. Specialty, while International sales fell 7%.
Gross profit increased 27% to $38,417, lifting gross margin to 31% from 26%. Operating expenses grew 6% to $36,528, including $2,804 of transformation costs and $659 of asset impairments tied to restructuring the Los Angeles plant. Net loss narrowed to $4,145 (basic and diluted loss per share of $0.14) from $8,462.
The company refinanced its credit facility with two term loans totaling $285,000, raising total debt (net of discounts and costs) to $266,634 and pushing quarterly interest expense to $5,790 at a 10.9% average rate. New covenants require minimum cash balances and restrict dividends and share repurchases. Management highlights geopolitical risks from war in the Middle East that could pressure growers’ costs and demand.
American Vanguard (AVD) reported Q3 2025 results with net sales of $119.3 million, up 1% year over year. Gross profit rose to $34.2 million and gross margin expanded to 29%. Operating loss narrowed to $6.5 million from $28.4 million, and net loss improved to $12.4 million, or $0.43 per share.
U.S. sales increased 8% while international declined 6%. Cost controls and lower freight helped margins, partly offset by a $7.0 million product liability charge tied to an ornamental insecticide. For the first nine months, sales were $364.4 million (down 5%), gross margin was 29% (up from 26%), and operating loss narrowed to $6.4 million from $31.5 million.
Cash used in operations was $27.1 million year‑to‑date. Long‑term debt was $182.3 million with a 8.01% rate at September 30, 2025. The revolving credit facility maturity was extended to December 31, 2026 with staged commitment reductions, and the company reported capacity to borrow up to $46.9 million as of quarter‑end. Under the amended agreement, the company is currently prevented from paying cash dividends.
American Vanguard (AVD) Q2-25 10-Q highlights:
- Net sales grew 1% YoY to $129.3 m; U.S. crop +1%, U.S. non-crop +3%, International flat.
- Cost-of-sales fell 2%, lifting gross margin to 31% (29% LY). Gross profit +7% to $40.5 m.
- Operating expenses -23% to $36.2 m as transformation spending fell to $1.6 m (vs $7.3 m). Operating income swung to $4.4 m (-$9.2 m).
- After $4.5 m net interest and $0.8 m tax expense, quarterly net loss narrowed sharply to $0.8 m (-$11.7 m); EPS -$0.03.
- 1H-25: revenue -7% to $245.1 m; gross margin 29% (30% LY); operating break-even ($0.1 m); net loss $9.3 m vs -$10.2 m.
- Cash used in operations -$39.8 m (vs -$49.4 m LY) driven by $46.2 m drawdown of customer prepayments and $9.8 m inventory build.
- Debt climbed to $189.5 m (12/24: $147.3 m); average borrowing rate 8.4% Q2.
- May-25 Eleventh Amendment cut revolver to $245 m and suspended leverage & FCCR covenants through 2025, adding minimum liquidity & EBITDA tests. Company had $31.8 m available capacity at 6-30-25.
- No dividends permitted under amended facility.
- Material weaknesses in ICFR (Australia, close process, risk assessment) persist.
- Legal exposure: out-of-spec insecticide lots may create material claims; loss not yet estimable.
Management sees early ag-market recovery, expects lower transformation spend and continues talks to extend credit facility (matures Aug-26).