AVALON HOLDINGS CORPORATION ANNOUNCES SECOND QUARTER RESULTS

AVALON HOLDINGS CORPORATION ANNOUNCES SECOND QUARTER RESULTS

PR Newswire

WARREN, Ohio, Aug, 7, 2026

WARREN, Ohio, Aug, 7, 2026 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the second quarter of 2026.

Net operating revenues in the second quarter of 2026 were $20.9 million compared with $20.3 million in the second quarter of 2025. The Company recorded net income attributable to Avalon Holdings Corporation common shareholders of $0.9 million in the second quarter of 2026 compared with net income attributable to Avalon Holdings Corporation common shareholders of $0.3 million in the second quarter of 2025. For the second quarter of 2026, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.23 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.07 in the second quarter of 2025.For the first six months of 2026, net operating revenues were $38.6 million compared with $36.3 million for the first six months of 2025. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of approximately $0.4 million in the first six months of 2026 compared with net loss attributable to Avalon Holdings Corporation common shareholders of $1.2 million in the first six months of 2025. For the first six months of 2026, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.09 compared with basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.31 in the first six months of 2025.Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalon Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated resort amenities, four golf courses and related country clubs and a multipurpose recreation center.AVALON HOLDINGS CORPORATION AND SUBSIDIARIESCondensed Consolidated Statements of Operations (Unaudited)(in thousands, except for per share amounts)Three Months EndedSix Months Ended June 30,June 30,2026202520262025Net operating revenues:Waste management services$ 10,113$ 9,742$ 21,622$ 19,419Food, beverage and merchandise sales4,1133,7606,1265,784Other golf and related operations6,6726,75010,80911,117Total golf and related operations10,78510,51016,93516,901Total net operating revenues20,89820,25238,55736,320Costs and expenses:Waste management services operating costs7,6697,48916,55215,071Cost of food, beverage and merchandise1,7701,7172,7622,730Golf and related operations operating costs6,5716,87811,47611,975Depreciation and amortization expense9279651,8551,935Selling, general and administrative expenses2,6032,4535,2905,010Operating income (loss)1,358750622(401)Other income (expense):Interest expense(504)(510)(1,008)(1,020)Loss on disposal(15)-(15)-Income (loss) before income taxes839240(401)(1,421)Provision for income taxes30297154Net income (loss)809211(472)(1,475)Less net loss attributable to non-controlling interest in subsidiary(75)(63)(121)(250)Net income (loss) attributable to Avalon Holdings Corporation common shareholders$ 884$ 274$ (351)$ (1,225)Income (loss) per share attributable to Avalon Holdings Corporation common shareholders:Basic net income (loss) per share$ 0.23$ 0.07$ (0.09)$ (0.31)Weighted average shares outstanding - basic 3,8993,8993,8993,899AVALON HOLDINGS CORPORATION AND SUBSIDIARIESCondensed Consolidated Balance Sheets (Unaudited)(in thousands)June 30,December 31,20262025AssetsCurrent Assets:Cash and cash equivalents$ 4,795$ 4,114Accounts receivable, net10,1839,819Unbilled membership dues receivable988541Inventories1,8381,555Prepaid expenses677919Other current assets1515Total current assets18,49616,963Property and equipment, net53,14753,982Property and equipment under finance leases, net6,4856,267Operating lease right-of-use assets1,2691,379Restricted cash8,1668,730Noncurrent deferred tax asset3232Other assets, net2728Total assets$ 87,622$ 87,381Liabilities and EquityCurrent liabilities:Current portion of long term debt$ 634$ 614Current portion of obligations under finance leases376384Current portion of obligations under operating leases372362Accounts payable6,5987,984Accrued payroll and other compensation1,6201,244Accrued taxes660660Deferred membership dues revenue5,7663,529Other liabilities and accrued expenses2,0902,054Total current liabilities18,11616,831Long term debt, net of current portion27,71028,032Line of credit3,2003,200Obligations under finance leases, net of current portion1,1181,248Obligations under operating leases, net of current portion8971,017Asset retirement obligation100100Equity:Total Avalon Holdings Corporation Shareholders' Equity38,00438,355Non-controlling interest in subsidiary(1,523)(1,402)Total shareholders' equity36,48136,953Total liabilities and equity$ 87,622$ 87,381