Avalon Holdings Corp. Files Q2 2024 10-Q

TL;DR

Avalon Holdings Q2 2024 10-Q filed. Financials and operations detailed.

AI Summary

Avalon Holdings Corp. filed its Q2 2024 10-Q report on August 8, 2024, covering the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which operates in the refuse systems industry. Specific financial figures and business segment performance are outlined within the report.

Why It Matters

This filing provides investors and stakeholders with the latest financial health and operational status of Avalon Holdings Corp., crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The risk level is medium due to the nature of SEC filings which can contain significant financial and operational details that may impact stock price.

Key Players & Entities

• AVALON HOLDINGS CORP (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• OH (location) — State of Incorporation
• 4953 (industry_code) — Standard Industrial Classification
• AvalonDermatologyLLCMember (company_segment) — Subsidiary
• AvalonMedSpaMember (company_segment) — Subsidiary

FAQ

Key Financial Figures

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

Filing Documents

• awx20240630_10q.htm (10-Q) — 1364KB
• ex_707793.htm (EX-31.1) — 11KB
• ex_707794.htm (EX-31.2) — 11KB
• ex_707795.htm (EX-32.1) — 4KB
• ex_707796.htm (EX-32.2) — 5KB
• 0001437749-24-025598.txt ( ) — 6897KB
• awx-20240630.xsd (EX-101.SCH) — 61KB
• awx-20240630_def.xml (EX-101.DEF) — 418KB
• awx-20240630_lab.xml (EX-101.LAB) — 343KB
• awx-20240630_pre.xml (EX-101.PRE) — 447KB
• awx-20240630_cal.xml (EX-101.CAL) — 53KB
• awx20240630_10q_htm.xml (XML) — 1205KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 1 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 (Unaudited) 2 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Notes to Unaudited Condensed Consolidated Financial Statements 6

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 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 37

Changes in Securities and Use of Proceeds

Item 2. Changes in Securities and Use of Proceeds 37

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits and Reports on Form 8-K

Item 6. Exhibits and Reports on Form 8-K 37 SIGNATURE 38 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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net operating revenues: Waste management services $ 12,220 $ 10,298 $ 24,690 $ 22,950 Food, beverage and merchandise sales 3,996 3,995 6,007 5,968 Other golf and related operations 6,841 6,533 11,218 10,363 Total golf and related operations 10,837 10,528 17,225 16,331 Total net operating revenues 23,057 20,826 41,915 39,281 Costs and expenses: Waste management services operating costs 9,527 8,224 19,424 18,604 Cost of food, beverage and merchandise 1,682 1,811 2,707 2,834 Golf and related operations operating costs 6,744 6,987 11,617 11,823 Depreciation and amortization expense 1,002 955 1,982 1,895 Selling, general and administrative expenses 2,654 2,501 5,251 5,030 Operating income (loss) 1,448 348 934 ( 905 ) Other income (expense): Interest expense, net ( 521 ) ( 529 ) ( 1,028 ) ( 1,044 ) Other income, net - - 7 - Income (loss) before income taxes 927 ( 181 ) ( 87 ) ( 1,949 ) Provision for income taxes 44 23 84 54 Net income (loss) 883 ( 204 ) ( 171 ) ( 2,003 ) Less net loss attributable to non-controlling interest in subsidiaries ( 71 ) ( 52 ) ( 146 ) ( 174 ) Net income (loss) attributable to Avalon Holdings Corporation common shareholders $ 954 $ ( 152 ) $ ( 25 ) $ ( 1,829 ) Income (loss) per share attributable to Avalon Holdings Corporation common shareholders: Basic and diluted net income (loss) per share $ 0.24 $ ( 0.04 ) $ ( 0.01 ) $ ( 0.47 ) Weighted average shares outstanding - basic and diluted 3,899 3,899 3,899 3,899 See accompanying notes to unaudited condensed consolida

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