American Vanguard Q2 2021 Earnings Report
Key Takeaways
American Vanguard reported a strong second quarter with a 29% increase in net sales and a 32% increase in net income compared to the same period last year. The company also successfully integrated its non-crop business and completed the integration of AgNova into its Australian business. Furthermore, they negotiated a new credit facility to support future growth.
Net sales increased by 29% to $135 million compared to Q2 2020.
Net income increased by 32% to $5.1 million compared to Q2 2020.
Earnings per diluted share increased by 31% to $0.17 compared to Q2 2020.
The company executed a new $275 million Credit Facility agreement.
American Vanguard
American Vanguard
American Vanguard Revenue by Segment
American Vanguard Revenue by Geographic Location
Forward Guidance
The Company maintains its previous outlook for 2021 with low double-digit revenue growth and comparatively stronger growth in both net income and EBITDA.
Positive Outlook
- Well positioned in both domestic and international markets.
- Assuming favorable market and pandemic trends.
- Low double-digit revenue growth expected.
- Comparatively stronger growth in both net income and EBITDA expected.
- Well-managed operating expenses should further strengthen our balance sheet.
Revenue & Expenses
Visualization of income flow from segment revenue to net income