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Sep 30, 2020
American Vanguard Q3 2020 Earnings Report
American Vanguard's financial performance remained relatively stable, with net income nearly matching the prior year's despite a slight decrease in net sales, due to conservative procurement, lower commodity prices and a strained farm economy.
Key Takeaways
American Vanguard reported third quarter results with net sales of $117 million and net income of $2.9 million. Earnings per diluted share were $0.10. The company maintained tight control over operating expenses and benefited from lower interest and tax expenses.
Net sales reached $117 million, a decrease from $125 million in the same quarter of the previous year.
Net income amounted to $2.9 million, slightly lower than the $3.1 million reported in the third quarter of 2019.
Earnings per diluted share were $0.10, compared to $0.11 in the prior year's quarter.
The company is optimistic about the fourth quarter due to rising crop commodity prices and increased demand for soil fumigation products.
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