American Vanguard Q2 2024 Earnings Report
Key Takeaways
American Vanguard reported Q2 2024 financial results with net sales of $128.2 million compared to $132.8 million in Q2 2023. The company experienced a loss per share of $(0.42) compared to $(0.04) in the same period last year. Profitability was reduced due to non-recurring charges, including severance compensation and business transformation expenses. The company is taking steps to enhance liquidity and improve its cost structure.
Net sales for Q2 2024 were $128.2 million, slightly below $132.8 million in Q2 2023.
Earnings per share for Q2 2024 were $(0.42), compared to $(0.04) in Q2 2023.
Double-digit increases in net sales were recorded in domestic non-crop business and Green Solutions products.
The company entered into an amended credit facility to improve borrowing capacity.
American Vanguard
American Vanguard
American Vanguard Revenue by Segment
American Vanguard Revenue by Geographic Location
Forward Guidance
American Vanguard is lowering its full year 2024 targets to adjusted EBITDA of $40 - $50 million and net sales to be down 2%-to-flat, or $565 million to $580 million, due to the current state of the market and forecasted demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income