Fri, Nov 8, 10:10 PM (242 days ago)
Avalon Holdings Corporation (AWX) reported a modest increase in net operating revenues to $24.2 million for Q3 2024, up from $24.0 million in Q3 2023. The waste management services segment generated $11.5 million, slightly down from $11.7 million, while golf-related operations increased to $12.8 million from $12.2 million, driven by improved pricing and operational performance. Operating income rose to $2.3 million from $1.4 million year-over-year, with net income attributable to common shareholders at $1.8 million, or $0.47 per share, compared to $0.9 million, or $0.23 per share, in the prior year. Cash flow from operations was strong, totaling $3.9 million for the nine months ended September 30, 2024. The company maintained a working capital deficit of $0.5 million, improved from $3.9 million previously. Total liabilities increased slightly to $51.3 million, with long-term debt at $28.8 million. Avalon continues to navigate uncertainties, including regulatory challenges affecting its saltwater disposal operations. The company remains committed to strategic growth within its waste management and golf operations, focusing on customer retention and operational efficiencies. Overall, Avalon appears to be stabilizing its financial position while aiming for growth amidst industry and economic challenges.