AVALON HOLDINGS CORP 10-Q Filing

Key Financial Figures

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

Filing Documents

• awx20250930_10q.htm (10-Q) — 1396KB
• ex_880772.htm (EX-31.1) — 11KB
• ex_880773.htm (EX-31.2) — 11KB
• ex_880774.htm (EX-32.1) — 4KB
• ex_880775.htm (EX-32.2) — 4KB
• 0001437749-25-033887.txt ( ) — 7101KB
• awx-20250930.xsd (EX-101.SCH) — 61KB
• awx-20250930_def.xml (EX-101.DEF) — 413KB
• awx-20250930_lab.xml (EX-101.LAB) — 349KB
• awx-20250930_pre.xml (EX-101.PRE) — 443KB
• awx-20250930_cal.xml (EX-101.CAL) — 52KB
• awx20250930_10q_htm.xml (XML) — 1312KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2025 and 2024 (Unaudited) 1 Condensed Consolidated Balance Sheets at September 30, 2025 and December 31, 2024 (Unaudited) 2 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended September 30, 2025 and 2024 (Unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity for the Nine Months Ended September 30, 2025 and 2024 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024 (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 24

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 38

Changes in Securities and Use of Proceeds

Item 2. Changes in Securities and Use of Proceeds 38

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 38

Other Information

Item 5. Other Information 38

Exhibits and Reports on Form 8-K

Item 6. Exhibits and Reports on Form 8-K 38 SIGNATURE 39 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 Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net operating revenues: Waste management services $ 12,918 $ 11,461 $ 32,338 $ 36,151 Food, beverage and merchandise sales 4,553 4,615 10,337 10,622 Other golf and related operations 8,275 8,159 19,392 19,377 Total golf and related operations 12,828 12,774 29,729 29,999 Total net operating revenues 25,746 24,235 62,067 66,150 Costs and expenses: Waste management services operating costs 10,259 8,949 25,330 28,372 Cost of food, beverage and merchandise 1,958 2,010 4,688 4,717 Golf and related operations operating costs 7,425 7,308 19,401 18,925 Depreciation and amortization expense 932 975 2,867 2,957 Selling, general and administrative expenses 2,826 2,719 7,835 7,970 Operating income 2,346 2,274 1,946 3,209 Other income (expense): Interest expense, net ( 512 ) ( 502 ) ( 1,532 ) ( 1,531 ) Other income, net - - - 7 Income before income taxes 1,834 1,772 414 1,685 Provision for income taxes 45 42 100 126 Net income 1,789 1,730 314 1,559 Less net loss attributable to non-controlling interest in subsidiaries ( 113 ) ( 110 ) ( 363 ) ( 256 ) Net income attributable to Avalon Holdings Corporation common shareholders $ 1,902 $ 1,840 $ 677 $ 1,815 Income per share attributable to Avalon Holdings Corporation common shareholders: Basic net income per share $ 0.49 $ 0.47 $ 0.17 $ 0.47 Weighted average shares outstanding - basic 3,899 3,899 3,899 3,899 See accompanying notes to unaudited condensed consolidated financial statements . 1 AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consoli