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AVALON HOLDINGS CORPORATION ANNOUNCES 2024 FULL YEAR AND FOURTH QUARTER RESULTS

1. AWX's Q4 2024 revenue was $17.6 million, slightly down from Q4 2023. 2. Net loss decreased from $0.8 million in Q4 2023 to $0.5 million in Q4 2024. 3. Full-year revenue increased to $83.8 million, with a net income of $1.3 million. 4. Basic net income per share rose to $0.34 in 2024 from a loss of $0.46. 5. Cash and cash equivalents improved from $1.2 million to $2.8 million year-over-year.

Earnings
+11%Current Return
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-0.27%S&P 500
$303/21 12:49 AM EDTEvent Start
$3.3303/24 12:58 AM EDTLatest Updated
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FAQ

Why Bullish?

AWX's reduction in net loss and positive revenue growth are encouraging signs. Historically, such trends have led to increased investor confidence.

How important is it?

Positive financial results and reduced losses suggest stability and potential growth for AWX. This enhances the company's attractiveness to investors.

Why Short Term?

The financial results indicate improvement that could attract immediate investor interest. Similar past events show quick market reactions to improving financial performance.

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WMRSGPENN
, /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex:AWX) today announced financial results for the fourth quarter and fiscal year ended December 31, 2024. Net operating revenues in the fourth quarter of 2024 were $17.6 million compared with $17.7 million in the fourth quarter of 2023. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of $0.5 million in the fourth quarter of 2024 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $0.8 million in the fourth quarter of 2023. For the fourth quarter of 2024, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.13 compared with basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.21 in the fourth quarter of 2023. For the year ended December 31, 2024, net operating revenues were $83.8 million compared with $80.9 million for the year ended December 31, 2023. The Company recorded a net income attributable to Avalon Holdings Corporation common shareholders of $1.3 million for the year ended December 31, 2024 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $1.8 million for the year ended December 31, 2023. For the year ended December 31, 2024, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.34 compared with basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.46 for year ended December 31, 2023. Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations.  Avalon Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated resort amenities, four golf courses and related country clubs and a multipurpose recreation center. AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except for per share amounts) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Net operating revenues: Waste management services $             9,771 $             9,917 $           45,922 $           44,611 Food, beverage and merchandise sales 2,915 2,914 13,537 13,491 Other golf and related operations 4,959 4,890 24,336 22,797 Total golf and related operations 7,874 7,804 37,873 36,288 Total net operating revenues 17,645 17,721 83,795 80,899 Costs and expenses: Waste management services operating costs 7,568 7,776 35,940 35,642 Cost of food, beverage and merchandise 1,388 1,500 6,105 6,318 Golf and related operations operating costs 5,596 5,433 24,521 24,775 Depreciation and amortization expense 949 968 3,906 3,826 Selling, general and administrative expenses 2,278 2,381 10,248 10,227 Operating (loss) income (134) (337) 3,075 111 Other income (expense): Interest expense (509) (568) (2,040) (2,098) Other income, net - - 7 - Income (loss) before income taxes (643) (905) 1,042 (1,987) Provision for income taxes (36) (36) 90 57 Net income (loss) (607) (869) 952 (2,044) Less net loss attributable to non-controlling interest in subsidiaries (110) (38) (366) (269) Net income (loss) attributable to Avalon Holdings Corporation common shareholders $              (497) $              (831) $             1,318 $            (1,775) Income (loss) per share attributable to Avalon Holdings Corporation common shareholders: Basic and diluted net income (loss) per share $             (0.13) $             (0.21) $               0.34 $             (0.46) Weighted average shares outstanding - basic and diluted 3,899 3,899 3,899 3,899 AVALON HOLDINGS CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) (in thousands) December 31, December 31, 2024 2023 Assets Current Assets: Cash and cash equivalents $              2,803 $              1,187 Accounts receivable, net 8,595 9,499 Unbilled membership dues receivable 582 567 Inventories 1,558 1,662 Prepaid expenses 1,003 1,116 Other current assets 15 14 Total current assets 14,556 14,045 Property and equipment, net 55,582 56,630 Property and equipment under finance leases, net 5,647 5,711 Operating lease right-of-use assets 1,383 1,270 Restricted cash 8,958 10,265 Noncurrent deferred tax asset, net 27 8 Other assets, net 33 36 Total assets $             86,186 $             87,965 Liabilities and Equity Current liabilities: Current portion of long term debt $                 575 $                 538 Current portion of obligations under finance leases 201 198 Current portion of obligations under operating leases 365 432 Accounts payable 7,116 9,657 Accrued payroll and other compensation 1,064 1,277 Accrued taxes 594 539 Deferred membership dues revenue 3,524 3,443 Other liabilities and accrued expenses 2,024 1,825 Total current liabilities 15,463 17,909 Long term debt, net of current portion 28,646 29,220 Line of credit 3,200 3,200 Obligations under finance leases, net of current portion 707 598 Obligations under operating leases, net of current portion 1,018 838 Asset retirement obligation 100 100 Equity: Total Avalon Holdings Corporation Shareholders' Equity 38,034 36,716 Non-controlling interest in subsidiaries (982) (616) Total shareholders' equity 37,052 36,100 Total liabilities and equity $             86,186 $             87,965 SOURCE Avalon Holdings Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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