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Dec 31, 2022
American Vanguard Q4 2022 Earnings Report
American Vanguard's full-year performance in 2022 exceeded that of 2021, with net sales up 9% and net income up 47%.
Key Takeaways
American Vanguard reported strong FY 2022 results with net sales increasing by 9% and net income increasing by 47%. The company's U.S. Crop business saw increased sales, while the international business grew by 13%. The company is targeting increased net sales and consistent gross profit and operating expense performance for 2023.
Net sales were $610 million, up 9% compared to 2021.
Net income was $27.4 million, up 47% compared to 2021.
Earnings per diluted share were $0.92, up 51% compared to 2021.
Adjusted EBITDA was $73.1 million, up 15% compared to 2021.
American Vanguard
American Vanguard
American Vanguard Revenue by Segment
American Vanguard Revenue by Geographic Location
Revenue by Segment
U.S. crop Revenue
CapyFin.comU.S. non-crop Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
The company is well-positioned in both domestic and international markets for 2023 and is targeting increased net sales, and consistent gross profit and operating expense performance when compared to sales. They anticipate higher interest rates and expect to see a solid increase in net income, earnings per share, and adjusted EBITDA.
Positive Outlook
- Targeting increased net sales
- Expecting consistent gross profit performance
- Expecting consistent operating expense performance
- Anticipating a solid increase in net income
- Expecting a solid increase in earnings per share
Challenges Ahead
- Forecasting higher interest rates
- Expecting higher interest expense
- No specific details on market challenges
- No specific details on competitive pressures
- No specific details on potential regulatory hurdles
Revenue & Expenses
Visualization of income flow from segment revenue to net income