$AVD
AMERICAN VANGUARD CORP

2022 Q3 Form 10-Q Financial Statement

#000156459022028438 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $152.1M $148.1M $149.4M
YoY Change 3.27% 10.01% 28.65%
Cost Of Revenue $90.73M $88.31M $88.24M
YoY Change 0.55% 7.07% 24.28%
Gross Profit $61.38M $59.78M $61.19M
YoY Change 7.57% 14.65% 35.59%
Gross Profit Margin 40.35% 40.37% 40.95%
Selling, General & Admin $41.63M $39.42M $39.47M
YoY Change 2.19% 9.05% 13.43%
% of Gross Profit 67.81% 65.95% 64.51%
Research & Development $8.513M $7.758M $6.970M
YoY Change 10.93% 11.96% 5.61%
% of Gross Profit 13.87% 12.98% 11.39%
Depreciation & Amortization $5.645M $1.974M $2.103M
YoY Change 99.26% 17.99% -3.13%
% of Gross Profit 9.2% 3.3% 3.44%
Operating Expenses $50.14M $48.97M $46.44M
YoY Change 3.57% 13.66% 11.91%
Operating Profit $11.24M $10.81M $14.75M
YoY Change 29.93% 20.53% 306.2%
Interest Expense -$1.540M $772.0K -$315.0K
YoY Change -5.52% -23.79% -133.3%
% of Operating Profit -13.7% 7.14% -2.14%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0%
Pretax Income $9.704M $9.555M $14.43M
YoY Change 32.64% 24.69% 224.65%
Income Tax $2.963M $2.725M $4.499M
% Of Pretax Income 30.53% 28.52% 31.17%
Net Earnings $6.741M $6.830M $9.935M
YoY Change 22.61% 32.78% 223.51%
Net Earnings / Revenue 4.43% 4.61% 6.65%
Basic Earnings Per Share $0.23 $0.23 $0.33
Diluted Earnings Per Share $226.2K $0.23 $327.4K
COMMON SHARES
Basic Shares Outstanding 30.87M 29.60M 29.68M
Diluted Shares Outstanding 29.81M 30.23M 30.35M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.81M $22.06M $17.84M
YoY Change 24.46% 12.77% 29.28%
Cash & Equivalents $20.81M $22.06M $17.84M
Short-Term Investments
Other Short-Term Assets $16.97M $16.37M $13.64M
YoY Change 35.83% 17.79% 21.82%
Inventory $192.3M $182.2M $168.0M
Prepaid Expenses $16.37M
Receivables $194.5M $165.7M $183.5M
Other Receivables $12.20M $13.21M $11.07M
Total Short-Term Assets $436.8M $400.1M $394.1M
YoY Change 16.07% 7.23% 7.71%
LONG-TERM ASSETS
Property, Plant & Equipment $94.00M $67.45M $67.44M
YoY Change 41.35% 1.38% 2.27%
Goodwill $47.00M $49.08M
YoY Change -2.83%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.95M $13.10M $15.50M
YoY Change -37.96% -56.94% -16.18%
Total Long-Term Assets $339.4M $343.6M $353.3M
YoY Change -5.61% -5.18% 2.68%
TOTAL ASSETS
Total Short-Term Assets $436.8M $400.1M $394.1M
Total Long-Term Assets $339.4M $343.6M $353.3M
Total Assets $776.2M $743.6M $747.5M
YoY Change 5.48% 1.12% 5.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $81.92M $86.94M $77.70M
YoY Change 23.97% 33.61% 27.5%
Accrued Expenses $113.3M $99.15M $87.96M
YoY Change 34.34% 53.64% 65.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $219.9M $212.9M $220.1M
YoY Change 23.3% 28.38% 31.9%
LONG-TERM LIABILITIES
Long-Term Debt $148.4M $100.8M $98.31M
YoY Change 8.87% -32.53% -31.46%
Other Long-Term Liabilities $25.99M $5.584M $26.31M
YoY Change -9.2% -31.98% 211.27%
Total Long-Term Liabilities $174.4M $106.4M $98.31M
YoY Change 27.93% -32.51% -35.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $219.9M $212.9M $220.1M
Total Long-Term Liabilities $174.4M $106.4M $98.31M
Total Liabilities $413.6M $358.8M $364.8M
YoY Change 12.54% -1.98% 4.25%
SHAREHOLDERS EQUITY
Retained Earnings $319.7M
YoY Change 8.29%
Common Stock $106.9M
YoY Change 5.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.97M
YoY Change 59.53%
Treasury Stock Shares $3.694M
Shareholders Equity $362.6M $384.8M $382.6M
YoY Change
Total Liabilities & Shareholders Equity $776.2M $743.6M $747.5M
YoY Change 5.48% 1.12% 5.27%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $6.741M $6.830M $9.935M
YoY Change 22.61% 32.78% 223.51%
Depreciation, Depletion And Amortization $5.645M $1.974M $2.103M
YoY Change 99.26% 17.99% -3.13%
Cash From Operating Activities -$18.45M $5.085M -$32.32M
YoY Change -198.49% -62.87% -0.68%
INVESTING ACTIVITIES
Capital Expenditures -$3.326M -$2.394M -$4.304M
YoY Change 13.44% 1.18% 45.9%
Acquisitions $0.00
YoY Change
Other Investing Activities $19.00K -$27.00K $54.00K
YoY Change 1800.0% -99.73%
Cash From Investing Activities -$3.307M -$2.421M -$4.250M
YoY Change 12.83% -80.71% 44.31%
FINANCING ACTIVITIES
Cash Dividend Paid $594.0K
YoY Change 0.34%
Common Stock Issuance & Retirement, Net $6.219M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.77M 2.578M 37.45M
YoY Change -210.03% -49.37% 13.99%
NET CHANGE
Cash From Operating Activities -18.45M 5.085M -32.32M
Cash From Investing Activities -3.307M -2.421M -4.250M
Cash From Financing Activities 19.77M 2.578M 37.45M
Net Change In Cash -1.985M 5.242M 884.0K
YoY Change -8.48% -15.97% -133.65%
FREE CASH FLOW
Cash From Operating Activities -$18.45M $5.085M -$32.32M
Capital Expenditures -$3.326M -$2.394M -$4.304M
Free Cash Flow -$15.12M $7.479M -$28.01M
YoY Change -169.81% -53.44% -5.32%

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92660
dei City Area Code
CityAreaCode
949
dei Security12b Title
Security12bTitle
Common Stock, $.10 par value
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
30869520
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
297519000
dei Entity Registrant Name
EntityRegistrantName
AMERICAN VANGUARD CORPORATION
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
250765000
us-gaap Operating Expenses
OperatingExpenses
95410000
CY2021Q2 avd Change In Equity Investment Fair Value
ChangeInEquityInvestmentFairValue
-295000
avd Change In Equity Investment Fair Value
ChangeInEquityInvestmentFairValue
-403000
CY2021Q2 avd Adjustment To Bargain Purchase Gain On Business Acquisition
AdjustmentToBargainPurchaseGainOnBusinessAcquisition
-88000
avd Adjustment To Bargain Purchase Gain On Business Acquisition
AdjustmentToBargainPurchaseGainOnBusinessAcquisition
-121000
avd Income Loss Before Equity Method Investments
IncomeLossBeforeEquityMethodInvestments
16765000
us-gaap Operating Income Loss
OperatingIncomeLoss
12625000
us-gaap Other Income
OtherIncome
672000
CY2022Q2 us-gaap Interest Expense
InterestExpense
772000
CY2021Q2 us-gaap Interest Expense
InterestExpense
1013000
us-gaap Interest Expense
InterestExpense
1170000
us-gaap Interest Expense
InterestExpense
1959000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
9555000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7663000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
23989000
CY2021Q2 avd Income Loss Before Equity Method Investments
IncomeLossBeforeEquityMethodInvestments
5218000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Gross Profit
GrossProfit
120972000
avd Income Loss Before Equity Method Investments
IncomeLossBeforeEquityMethodInvestments
8302000
CY2021Q2 avd Income Loss From Equity Method Investments Net Of Gain Loss On Dilution
IncomeLossFromEquityMethodInvestmentsNetOfGainLossOnDilution
-74000
avd Income Loss From Equity Method Investments Net Of Gain Loss On Dilution
IncomeLossFromEquityMethodInvestmentsNetOfGainLossOnDilution
-87000
us-gaap Net Income Loss
NetIncomeLoss
16765000
us-gaap Net Income Loss
NetIncomeLoss
8215000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30511000
us-gaap Profit Loss
ProfitLoss
16765000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
411000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
17781000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
8626000
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29930000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30499000
CY2022Q2 us-gaap Assets
Assets
743644000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
67140000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
99152000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
63245000
CY2022Q2 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
20180000
CY2021Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
20745000
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
212944000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
100779000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
250000
avd Payments For Proceeds From Repurchase Or Issuance Of Common Stock
PaymentsForProceedsFromRepurchaseOrIssuanceOfCommonStock
436000
avd Payment For Proceeds From The Exercise Of Stock Options
PaymentForProceedsFromTheExerciseOfStockOptions
167000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34443234
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
34248218
CY2022Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
3694050
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
3361040
CY2022Q2 us-gaap Treasury Stock Value
TreasuryStockValue
28971000
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
22739000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
384834000
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
743644000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
694160000
CY2022Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2022-03-14
CY2022Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-03-25
CY2021 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2021-12-13
CY2021 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2021-12-27
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2021-06-08
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174884000
CY2022Q2 us-gaap Depreciation
Depreciation
1974000
CY2021Q2 us-gaap Depreciation
Depreciation
1673000

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