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Avalon Holdings Corporation (NYSE Amex: AWX) is a multifaceted company providing essential waste management services and operating luxury golf and resort facilities in the United States. The company is segmented into two main divisions: Waste Management Services and Golf and Related Operations.
The Waste Management Services division offers comprehensive solutions for industrial, commercial, municipal, and governmental clients. Services include hazardous and non-hazardous waste disposal brokerage, captive landfill management, and saltwater injection well operations. Additionally, this segment provides turnkey services such as daily operations, facilities management, and management reporting. Avalon also sells construction mats, adding another revenue stream to its diverse portfolio.
The Golf and Related Operations division is known for managing and operating three picturesque golf courses, complete with clubhouses, a hotel, and a travel agency. These facilities are not just about golf; they offer a wide range of amenities including swimming pools, fitness centers, tennis courts, dining options, and banquet and conference facilities. The company's hotel, operating under the brand The Grand Resort, provides an array of luxurious services including spa treatments, ensuring a comprehensive leisure experience.
Recently, Avalon has been in the news for significant corporate developments. On June 28, 2023, Ronald E. Klingle, Chairman of the Board, announced the resignation of Bryan P. Saksa as Chief Financial Officer, Treasurer, and Secretary. Stefanie Villella, the Corporate Controller, has been appointed as interim CFO while a search for a new CFO is underway.
Financially, Avalon has shown resilience in a challenging market. As of the third quarter of 2023, the company reported net operating revenues of $23.9 million. Despite a slight decrease compared to the same quarter in 2022, Avalon maintained a net income attributable to common shareholders of $0.9 million. For the first nine months of 2023, the company reported net operating revenues of $62.9 million, reflecting an increase from $59.5 million in the same period in 2022.
Avalon Holdings Corporation continues to solidify its presence in both the waste management and luxury resort sectors, focusing on delivering high-quality services and operational excellence.
Avalon Holdings (NYSE Amex: AWX) reported strong Q3 2024 financial results. Net operating revenues reached $24.2 million, up from $24.0 million in Q3 2023. Net income attributable to shareholders doubled to $1.8 million ($0.47 per share) compared to $0.9 million ($0.23 per share) in Q3 2023. For the first nine months of 2024, revenues increased to $66.2 million from $63.2 million, with net income of $1.8 million versus a $0.9 million loss in the same period of 2023.
Avalon Holdings (NYSE Amex: AWX) reported its Q2 2024 financial results. Key highlights include:
- Net operating revenues increased to $23.1 million, up from $20.8 million in Q2 2023
- Net income attributable to AWX shareholders was $1.0 million, compared to a $0.2 million loss in Q2 2023
- Basic earnings per share improved to $0.24, up from a $0.04 loss per share in Q2 2023
For the first half of 2024:
- Net operating revenues rose to $41.9 million, compared to $39.3 million in H1 2023
- Net loss narrowed to $25,000, a significant improvement from the $1.8 million loss in H1 2023
- Basic loss per share reduced to $0.01, compared to $0.47 in H1 2023
Avalon Holdings reported its first-quarter financial results for 2024. Net operating revenues increased to $18.9 million from $18.4 million in 2023. The net loss attributable to common shareholders decreased to $1.0 million from $1.7 million in 2023. The basic net loss per share also improved to $0.25 from $0.43. Avalon Holdings provides waste management services and owns Avalon Resorts and Clubs Inc., with various operations.
Avalon Holdings Corporation (NYSE Amex: AWX) reported its financial results for Q4 and FY 2022, revealing a rise in net operating revenues to $21.6 million, up from $17.6 million in Q4 2021. However, the company faced a net loss of $1.0 million compared to a loss of $0.5 million in the previous year. For FY 2022, total revenues reached $81.2 million, an increase from $70.4 million in 2021. Net loss attributable to shareholders was $0.6 million, significantly down from a net income of $2.0 million in 2021, marking a basic net loss per share of $0.15.
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