Welcome to our dedicated page for American Vanguard Corporation news (Ticker: AVD), a resource for investors and traders seeking the latest updates and insights on American Vanguard Corporation stock.
American Vanguard Corporation (AVD) is a leading US-based company that specializes in the development, manufacturing, and marketing of specialty chemicals. Founded in 1969, American Vanguard operates through its subsidiaries to serve agricultural, commercial, and consumer markets both domestically and internationally.
The company produces a wide range of chemicals including insecticides, fungicides, herbicides, molluscicides, growth regulators, and soil fumigants. These products are available in various formulations such as liquid, powder, and granular forms, catering to crops, turf, ornamental plants, as well as human and animal health protection.
American Vanguard's product line includes well-known formulations like PCNB, chlorothalonil, and propiconazole, marketed under the FFII and FFIII names. The company ensures these products reach their target markets through a robust distribution network. This network features national distribution companies, buying groups, co-operatives, and direct sales channels, including sales offices, sales agents, and wholly owned distributors.
In addition to chemical products, American Vanguard also markets and distributes end-use chemical and biological products for crop applications and the greenhouse and nursery production markets. The company's commitment to quality and innovation has solidified its reputation in the industry, enabling it to form strategic partnerships and expand its market presence.
Recent Achievements and Current Projects: American Vanguard has recently focused on enhancing its product portfolio through research and development. The company invests in innovative solutions to meet evolving market demands and regulatory requirements. It continues to work on projects aimed at improving agricultural productivity and sustainability.
Financial Condition: American Vanguard’s financial performance reflects its strong market position and diversified product offerings. The company consistently reports revenue growth and profitability, highlighting its effective management and strategic direction.
American Vanguard Corporation remains a significant player in the specialty chemicals industry, contributing to advancements in agriculture, commercial applications, and consumer health protection. Its comprehensive product range and strategic market approach make it a valuable entity for stakeholders and investors.
American Vanguard (AVD) announced changes to its Board of Directors. Debra Edwards, who served since 2011 as Chair of the Compensation Committee and on the Risk and Finance Committees, is retiring from the board. The company appointed Carmen Tiu effective December 11, 2024, to fill the vacancy. Tiu, who will serve on the Risk and Finance Committees, brings extensive experience from her tenure at Dow AgroSciences and Corteva AgroSciences, particularly in regulatory strategy, food standards, risk, and government affairs. Her credentials include over 30 scientific publications, 70 scientific reports, and hundreds of regulatory submissions.
American Vanguard (AVD) has appointed Douglas A. ('Dak') Kaye, III as its new Chief Executive Officer, effective December 9, 2024. Kaye brings extensive experience from his 13-year tenure at Albaugh, , where he most recently served as President, North America. He previously held positions as Group Chief Commercial Officer and President of the European region.
The appointment follows a comprehensive search process and aims to drive the company's transformation goals, including achieving a 15% adjusted EBITDA margin. Kaye will succeed the Office of CEO (OCEO), which has been in place since July 15, 2024, and will be based at global headquarters starting January 6, 2025.
American Vanguard reported Q3 2024 financial results with net sales of $118.3 million ($130.7 million excluding Dacthal recall impact) compared to $149.5 million in Q3 2023. The company maintained its full-year 2024 Adjusted EBITDA guidance of $40-50 million despite reporting Q3 Adjusted EBITDA of $1.8 million vs $11.4 million year-over-year. Non-crop revenues grew 17% and Green Solutions revenues increased 18%. The company reduced debt by $32.5 million to $179 million and raised expected transformation benefits to $20 million from $15 million. Q3 EPS was $(0.92) compared to $(0.01) in Q3 2023.
American Vanguard (AVD) has scheduled its third quarter 2024 financial results announcement for Monday, November 11, with the conference call set for 4:30 pm ET/ 1:30 pm PT. Acting CEO Tim Donnelly, CFO David T. Johnson, and Board Member Mark Bassett will lead the presentation. The webcast will be available on the company's website and archived for one year for future access.
American Vanguard (NYSE: AVD) has announced the voluntary cancellation of all federal registrations for its Dacthal herbicide products. This decision follows an emergency suspension order issued by the EPA on August 6, 2024. The company is working with state and federal authorities to remove Dacthal from distribution channels and plans to cancel all international registrations as well.
The EPA's suspension was based on a single rodent study provided by AVD two years ago, which showed potential fetal effects at certain doses. The company had been working with the EPA to identify risk mitigation measures and discuss additional studies, but ultimately decided to withdraw the product registrations.
American Vanguard (NYSE: AVD) reported Q2 2024 financial results, showing a slight decline in net sales to $128.2 million from $132.8 million in Q2 2023. The company faced profitability challenges, with earnings per share dropping to $(0.42) from $(0.04) year-over-year. Despite adverse market conditions, AVD saw double-digit increases in domestic non-crop business and Green Solutions products sales.
To address liquidity concerns, AVD entered an amended credit facility on August 8, 2024, relaxing EBITDA-based covenants and increasing borrowing capacity. The company has also implemented cost-cutting measures, including a 4% workforce reduction and initiatives to manage inventory and expenses. AVD revised its full-year 2024 targets, lowering adjusted EBITDA expectations to $40-$50 million and projecting net sales to be down 2% to flat at $565-$580 million.
American Vanguard (NYSE: AVD) has announced its schedule for the 2024 second quarter earnings release and conference call. The financial results will be reported on Thursday, August 8, 2024, after the stock market closes. A conference call led by Tim Donelly (Acting CEO), David T. Johnson (VP, CFO and Treasurer), and Mark Bassett (Director) will take place at 4:30 pm ET / 1:30 pm PT on the same day.
Interested parties can participate in the call by dialing 201-493-6744, 10 minutes before the start time. The call will also be webcast live on the company's website. For those unable to attend, an archived version will be available on the American Vanguard website.
American Vanguard (NYSE: AVD) announced the departure of CEO Eric G. Wintemute, effective July 12, 2024. The company is establishing an Office of CEO (OCEO) to drive change and improve financial performance. The OCEO will consist of CFO David Johnson, SVPHR Shirin Khosravi, CIO/General Counsel Timothy Donnelly, and board member Mark Bassett, PhD.
The OCEO's main focus areas are:
- Improving strategy execution to drive better earnings and cash flow
- Accelerating company-wide transformation for improved data systems, customer focus, market strategies, and operational efficiency
American Vanguard (NYSE: AVD) announced that its Chairman and CEO, Eric G. Wintemute, plans to retire. He will remain involved in the search for his successor, which is being conducted by Kincannon & Reed, and will retire by December 31, 2024, or sooner if a successor is appointed. Post-retirement, he will continue to serve as Chairman of the Board and provide part-time consulting services.
During his 47-year tenure, including 30 years as CEO, Wintemute transformed American Vanguard from a small facility with $1.5 million in revenue into a global enterprise with $600 million in revenue, six North American factories, and operations in 21 countries. The company is currently undergoing a digital and operational transformation aimed at maximizing EBITDA. The board expressed gratitude for Wintemute's contributions and leadership.
American Vanguard (NYSE:AVD) has announced the results of its 2024 Annual Meeting of Stockholders held on June 6, 2024.
All nine director nominees, including Marisol Angelini, Scott Baskin, and others, received more votes 'for' than 'against'. The ratification of Deloitte Touche, LLP as the independent accounting firm and the advisory approval of executive compensation policies were also passed, with over 90% support from votes cast.
Chairman and CEO, Eric Wintemute, expressed gratitude to shareholders for their overwhelming support.
FAQ
What is the current stock price of American Vanguard Corporation (AVD)?
What is the market cap of American Vanguard Corporation (AVD)?
What does American Vanguard Corporation do?
What types of products does American Vanguard offer?
In which markets does American Vanguard operate?
How does American Vanguard distribute its products?
What are some of American Vanguard's well-known formulations?
Does American Vanguard invest in research and development?
What is American Vanguard’s financial performance like?
When was American Vanguard Corporation founded?
What is the significance of American Vanguard in the industry?
What are American Vanguard's recent achievements?
