American Vanguard Corp. (AVD) Misses Q1 EPS by 22c, Misses on Revenue; Offers FY23 Revenue Guidance

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Go back to American Vanguard Corp. (AVD) Misses Q1 EPS by 22c, Misses on Revenue; Offers FY23 Revenue Guidance

American Vanguard Reports Q1 2023 Results

May 9, 2023 4:05 PM EDT

Reaffirms Double-Digit Full-Year 2023 EBITDA Growth Despite Lower-Than-Expected Q1 Performance

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- American Vanguard Corporation (NYSE: AVD) today announced financial results for the quarter ended March 31, 2023.

Q1 2023 Financial Performance versus Q1 2022 (see table below):

Eric Wintemute, Chairman and CEO of American Vanguard, stated: During 2023, we expect to achieve higher adjusted EBITDA (between $84MM - $86MM) than in 2022, despite a first quarter setback arising from delays in restarting our supply chain, which is now back at capacity. After experiencing multiple delays, our China-based... More