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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 Corporation (AWX) reported third-quarter 2022 financial results, revealing net operating revenues of $25.7 million, up from $21.3 million in Q3 2021. The company recorded a net income of $1.2 million, compared to $1.0 million a year earlier, with basic net income per share increasing to $0.30 from $0.25. For the first nine months, net revenues reached $59.5 million versus $52.8 million in the prior year, but net income dropped to $0.4 million from $2.4 million in 2021, with per-share earnings declining to $0.10 from $0.63.
Avalon Holdings Corporation (NYSE Amex: AWX) reported a net operating revenue of $19.5 million for Q2 2022, up from $16.4 million in Q2 2021. Net income attributable to common shareholders was $0.5 million or $0.12 per share, down from $0.7 million or $0.19 per share the previous year. For the first half of 2022, revenues reached $33.8 million, an increase from $31.5 million in H1 2021. However, the company reported a net loss of $0.8 million for the first six months, contrasting with a net income of $1.5 million in the same period last year.
Avalon Holdings Corporation (AWX) reported a net loss of $1.3 million for Q1 2022, a decline from a net income of $0.7 million in Q1 2021. Net operating revenues fell to $14.3 million, down from $15.1 million from the previous year. Basic and diluted net loss per share was $0.32, contrasting with $0.18 income per share a year earlier. Operating costs increased in both waste management services and associated operations, impacting profitability.
Avalon Holdings Corporation (AWX) reported its financial results for Q4 and the fiscal year 2021. Fourth-quarter net operating revenues increased to $17.6 million, compared to $14.6 million in Q4 2020. However, the company experienced a net loss of $0.5 million for the quarter, compared to a profit of $0.5 million in the same period last year. For the fiscal year 2021, revenues rose to $70.4 million, up from $58.7 million in 2020, with net income of $2.0 million.
Avalon Holdings Corporation (NYSE Amex: AWX) reported a net operating revenue of $21.3 million for Q3 2021, an increase from $16.6 million in Q3 2020. Net income for common shareholders rose to $1.0 million compared to $0.8 million in the previous year. For the first nine months of 2021, revenues reached $52.8 million, up from $44.1 million in 2020. The company shifted from a net loss of $0.5 million to a net income of $2.4 million during this period.
Avalon Holdings Corporation (NYSE Amex: AWX) reported a positive financial performance for Q2 2021, with net operating revenues increasing to $16.4 million from $13.1 million year-over-year. The company achieved a net income of $0.7 million, compared to a net loss of $0.4 million in Q2 2020. For the first half of 2021, revenues reached $31.5 million, up from $27.5 million in 2020. Basic net income per share rose to $0.19 from a loss of $0.11. Avalon continues to provide waste management and recreational services in selected U.S. markets.
Avalon Holdings Corporation (AWX) reported a positive financial performance for Q1 2021, achieving net operating revenues of $15.1 million, up from $14.4 million in Q1 2020. The company posted a net income of $0.7 million, a turnaround from a net loss of $0.8 million in the previous year. Basic net income per share reached $0.18, compared to a loss of $0.21 in Q1 2020. The company continues to provide waste management and recreational services and has shown improved operational efficiency.
Avalon Holdings Corporation (AWX) reported its fourth quarter and fiscal year results for 2020, showing a decline in net operating revenues to $14.6 million from $17.3 million in Q4 2019, but achieved net income of $0.5 million. For the full year, revenues decreased to $58.7 million from $68.4 million, with a net income of less than $0.1 million compared to a loss of $0.5 million in 2019. Basic net income per share was $0.00 for 2020, recovering from a loss of $0.12 in 2019. The company operates in waste management and hospitality sectors.
Avalon Holdings Corporation (AWX) reported third-quarter 2020 financial results with net operating revenues of $16.6 million, down from $18.0 million in Q3 2019. Net income attributable to common shareholders was $0.8 million ($0.20 per share) compared to $0.1 million ($0.04 per share) last year. For the first nine months, revenues totaled $44.1 million, down from $51.1 million in 2019, with a net loss of $0.5 million compared to a loss of less than $0.1 million last year. The company provides waste management services and operates resorts and clubs.
Avalon Holdings Corporation (AWX) reported a net operating revenue of $13.1 million for Q2 2020, a decline from $18.4 million in Q2 2019. The company experienced a net loss of $0.4 million, reversing the net income of $0.5 million from the previous year. For the first half of 2020, revenues totaled $27.5 million, down from $33.0 million in H1 2019, with a net loss of $1.2 million compared to a loss of $0.2 million last year. Basic net loss per share was $0.32, up from $0.04.
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