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Nov. 9, 2022 Source: American Vanguard news release Newport Beach, CA - American Vanguard Corporation (NYSE: AVD), today announced financial results for the third quarter and nine months ended September 30, 2022. Financial Highlights Fiscal 2022 Third Quarter - versus Fiscal 2021 Third Quarter • Net sales of $152 million in 2022, a 3.4% increase, compared with $147 million in 2021 • Net income of $6.7 million in 2022, a 21.8% increase, compared with $5.5 million in 2021 • Earnings per diluted share of $0.23 in 2022, a 27.8% increase, compared with $0.18 in 2021 • Adjusted EBITDA of $18.9 million in 2022, a 11.2% increase, compared with $17.0 million in 2021 Financial Highlights Fiscal 2022 Nine Months - versus Fiscal 2021 Nine Months • Net sales of $450 million in 2022, a 13.1% increase, compared with $398 million in 2021 • Net income of $23.5 million in 2022, a 71.5% increase, compared with $13.7 million in 2021 • Earnings per diluted share of $0.78 in 2022, a 73.3% increase, compared with $0.45 in 2021 • Adjusted EBITDA of $61.4 million in 2022, a 29.8% increase, compared to $47.3 million in 2021 Eric Wintemute, Chairman and CEO of American Vanguard commented, "We achieved strong third quarter results and through the first nine months of 2022 and are on pace to meet or exceed our full year performance targets. High crop commodity prices, a strong farm economy and seasonal pest pressure (particularly in corn and cotton) fueled continued growth of our US Crop business. "Similarly, our international business recorded strong sales, led by Brazil (particularly our Counter nematicide), Mexico (due largely to soil fumigant sales) and a range of products for use on bananas and pineapples in Central America. To read the entire report click here. Tweet |
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