American Vanguard Corp. Files Q3 2024 10-Q
Ticker: AVD · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 5981
| Field | Detail |
|---|---|
| Company | American Vanguard CORP (AVD) |
| Form Type | 10-Q |
| Filed Date | Nov 12, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: AVD
TL;DR
AVD's Q3 10-Q is in. Financials and equity changes detailed.
AI Summary
American Vanguard Corp. (AVD) filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data points and changes in equity accounts are presented, reflecting the company's ongoing business activities and financial position.
Why It Matters
This filing provides investors with a detailed look at American Vanguard's financial health and operational performance during the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- 2024-09-30 — Reporting Period End (The company's financial status is reported as of this date.)
- 2024-11-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- AMERICAN VANGUARD CORP (company) — Filer
- 20240930 (date) — Reporting Period End Date
- 20241112 (date) — Filing Date
- 4695 MACARTHUR COURT (address) — Business Address
- NEWPORT BEACH (city) — Business Address City
- CA (state) — Business Address State
- 92660 (zip_code) — Business Address Zip
- 949-260-1200 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 12, 2024.
What is the primary business address of American Vanguard Corp.?
The primary business address is 4695 MacArthur Court, Newport Beach, CA 92660.
What is the fiscal year end for American Vanguard Corp.?
The fiscal year end for American Vanguard Corp. is December 31.
What is the SIC code for American Vanguard Corp.?
The Standard Industrial Classification (SIC) code for American Vanguard Corp. is 2870, which falls under Agriculture Chemicals.
Filing Stats: 4,520 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-11-12 17:00:33
Key Financial Figures
- $000 — lowing table: Long-term indebtedness ($000's) September 30, 2024 December 31,
Filing Documents
- avd-20240930.htm (10-Q) — 2009KB
- avd-ex31_1.htm (EX-31.1) — 13KB
- avd-ex31_2.htm (EX-31.2) — 13KB
- avd-ex32_1.htm (EX-32.1) — 10KB
- 0000950170-24-125626.txt ( ) — 7883KB
- avd-20240930.xsd (EX-101.SCH) — 1162KB
- avd-20240930_htm.xml (XML) — 1178KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive (Loss) Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27
—OTHER INFORMATION
PART II—OTHER INFORMATION 28 Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A. Risks Factors 28 Item 2. Purchases of Equity Securities by the Issuer 28 Item 6. Exhibits 29
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
FINANC IAL STATEMENTS
Item 1. FINANC IAL STATEMENTS AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 118,307 $ 149,516 $ 381,659 $ 407,191 Cost of sales ( 101,014 ) ( 106,432 ) ( 284,185 ) ( 282,662 ) Gross profit 17,293 43,084 97,474 124,529 Operating expenses Selling, general and administrative ( 26,365 ) ( 29,813 ) ( 86,885 ) ( 85,954 ) Research, product development and regulatory ( 11,177 ) ( 9,080 ) ( 25,482 ) ( 27,363 ) Transformation ( 8,139 ) — ( 16,636 ) — Operating (loss) income ( 28,388 ) 4,191 ( 31,529 ) 11,212 Change in fair value of equity investment — ( 247 ) 513 ( 324 ) Interest expense, net ( 4,378 ) ( 3,384 ) ( 11,988 ) ( 8,282 ) (Loss) income before income tax benefit (expense) ( 32,766 ) 560 ( 43,004 ) 2,606 Income tax benefit (expense) 7,024 ( 885 ) 7,093 ( 2,066 ) Net (loss) income $ ( 25,742 ) $ ( 325 ) $ ( 35,911 ) $ 540 Net (loss) income per common share—basic $ ( 0.91 ) $ ( 0.01 ) $ ( 1.28 ) $ 0.02 Net (loss) income per common share—assuming dilution $ ( 0.91 ) $ ( 0.01 ) $ ( 1.28 ) $ 0.02 Weighted average shares outstanding—basic 28,173 27,919 28,015 28,236 Weighted average shares outstanding—assuming dilution 28,173 27,919 28,015 28,656 See notes to the Condensed Consolidated Financial Statements. 3 AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE (LOSS) INCOME (In thousands) (Unaudited) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Net (loss)