Avalon Holdings Corp. Files Q1 2024 10-Q Report

TL;DR

<b>Avalon Holdings Corp. filed its Q1 2024 10-Q report detailing financial performance for the quarter ending March 31, 2024.</b>

AI Summary

AVALON HOLDINGS CORP (AWX) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Avalon Holdings Corp. filed its Q1 2024 10-Q report on May 8, 2024. The report covers the period ending March 31, 2024. The company's primary business is listed under Refuse Systems (SIC 4953). Incorporated in Ohio, with a fiscal year end of December 31. Business address is One American Way, Warren, OH 44484.

Why It Matters

For investors and stakeholders tracking AVALON HOLDINGS CORP, this filing contains several important signals. This filing provides investors with the latest financial performance data for Avalon Holdings Corp. for the first quarter of 2024. Understanding the segment performance (Golf and Related Operations, Waste Management Services) and corporate non-segment results is crucial for assessing the company's overall health and strategic direction.

Risk Assessment

Risk Level: low — AVALON HOLDINGS CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major strategic shifts that would indicate high risk.

Analyst Insight

Review the detailed segment revenues and net income figures to understand the performance drivers for Golf and Related Operations and Waste Management Services.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-08 — Filing Date (Date the 10-Q was filed)
• 1231 — Fiscal Year End (Company's fiscal year end)
• 4953 — SIC Code (Standard Industrial Classification)
• OH — State of Incorporation (State where Avalon Holdings Corp. is incorporated)
• 3308568800 — Business Phone (Contact phone number for the company)

Key Players & Entities

• AVALON HOLDINGS CORP (company) — Filer name
• AWX (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-08 (date) — Filing date
• OH (location) — State of incorporation and business address
• 4953 (industry_code) — Standard Industrial Classification for Refuse Systems
• 3308568800 (phone_number) — Business phone number
• 001-14105 (filing_number) — SEC file number

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date Avalon Holdings Corp. submitted its 10-Q to the SEC.

Key Financial Figures

• $0.01 — hich registered Class A Common Stock, $0.01 par value AWX NYSE American Indic

Filing Documents

• awx20240331_10q.htm (10-Q) — 1045KB
• ex_665642.htm (EX-31.1) — 11KB
• ex_665643.htm (EX-31.2) — 11KB
• ex_665644.htm (EX-32.1) — 4KB
• ex_665645.htm (EX-32.2) — 4KB
• 0001437749-24-015406.txt (&nbsp;) — 6109KB
• awx-20240331.xsd (EX-101.SCH) — 61KB
• awx-20240331_def.xml (EX-101.DEF) — 417KB
• awx-20240331_lab.xml (EX-101.LAB) — 341KB
• awx-20240331_pre.xml (EX-101.PRE) — 446KB
• awx-20240331_cal.xml (EX-101.CAL) — 53KB
• awx20240331_10q_htm.xml (XML) — 935KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 1 Condensed Consolidated Balance Sheets at March 31, 2024 and December 31, 2023 (Unaudited) 2 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 4 Notes to Unaudited Condensed Consolidated Financial Statements 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 32

Changes in Securities and Use of Proceeds

Item 2. Changes in Securities and Use of Proceeds 32

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32

Other Information

Item 5. Other Information 32

Exhibits and Reports on Form 8-K

Item 6. Exhibits and Reports on Form 8-K 32 SIGNATURE 33 i

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except per share amounts) Three Months Ended March 31, 2024 2023 Net operating revenues: Waste management services $ 12,470 $ 12,652 Food, beverage and merchandise sales 2,011 1,974 Other golf and related operations 4,377 3,819 Total golf and related operations 6,388 5,793 Total net operating revenues 18,858 18,445 Costs and expenses: Waste management services operating costs 9,897 10,380 Cost of food, beverage and merchandise 1,025 1,023 Golf and related operations operating costs 4,873 4,836 Depreciation and amortization expense 980 940 Selling, general and administrative expenses 2,596 2,530 Operating loss ( 513 ) ( 1,264 ) Other income (expense): Interest expense, net ( 508 ) ( 504 ) Other income, net 7 - Loss before income taxes ( 1,014 ) ( 1,768 ) Provision for income taxes 40 31 Net loss ( 1,054 ) ( 1,799 ) Less net loss attributable to non-controlling interest in subsidiaries ( 75 ) ( 122 ) Net loss attributable to Avalon Holdings Corporation common shareholders $ ( 979 ) $ ( 1,677 ) Loss per share attributable to Avalon Holdings Corporation common shareholders: Basic net loss per share $ ( 0.25 ) $ ( 0.43 ) Weighted average shares outstanding - basic 3,899 3,899 See accompanying notes to unaudited condensed consolidated financial statements . 1 AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except per share amounts) March 31, December 31, 2024 2023 Assets Current Assets: Cash and cash equivalents $ 1,163 $ 1,187 Accounts receivable, less allowance for credit losses 12,265 9,499 Unbilled membership dues receivable 790 567 Inventories 1,861 1,662 Prepaid expenses 1,282 1

View Full Filing

View this 10-Q filing on SEC EDGAR