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American Vanguard Reports First Quarter 2025 Results

Substantially Reduced Operating Expenses

Materially Decreased Net Working Capital Consumption

Industry In the Early Innings of a Recovery

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- American Vanguard^庐 Corporation (NYSE: AVD), a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamental management and commercial pest control, today reported financial results for the first quarter ended March 31, 2025.

Financial and Operational Highlights 鈥� First Quarter 2025 versus First Quarter 2024:

• Net sales of $115.8 million v. $135.1 million;
• Adjusted EBITDA¹ of $3.0 million v. $15.5 million;
• EPS of $(0.30) v. $0.06

Other Operational Highlights:

• Reduced net working capital by $85M year-over-year
• While operating expenses decreased by 5% on a GAAP basis, as compared to the year ago period, they decreased by 14% excluding transformation expenses and a non-recurring item

CEO Douglas A. Kaye III stated, 鈥淭he first quarter of 2025 presented a challenging environment for suppliers to the global agricultural sector, continuing trends that we have experienced over the past 18-24 months. Against a backdrop of global economic uncertainty and generally high interest rates, customers focused on managing working capital by reducing inventory and limiting procurement to a just-in-time basis. In the face of these conditions, our results for the quarter declined, as compared to last year. While I am pleased with the progress we have made, if market conditions do not improve, we will enact further cost reduction initiatives over the coming quarters. We have made meaningful improvement to our cost structure, but much of that progress is currently being overshadowed in our financial results so far this year by the continued weakness in the agricultural environment.鈥�

Mr. Kaye continued, 鈥淭he environment is beginning to improve in the second quarter, and, like most industry participants in the agricultural chemical industry, we expect the second half of 2025 to be both seasonally stronger and to benefit from improving customer order rates. We expect to realize the benefit of commercial and operational improvements that are either completed or are well underway. As we continue to transform and simplify this business, future margins will improve, and further margin enhancement in 2026 and beyond is the target.鈥�

David T. Johnson, Vice President, CFO and Treasurer, stated 鈥淲hile the industry recovers from its cyclical downturn, the team has made meaningful improvement to the cost structure. We are pleased with the results from our initial efforts to contain costs and will continue to keep a tight rein on non-essential costs for the foreseeable future. In addition to minimizing operating expenses, we have made significant improvements to our balance sheet. We ended the quarter with total debt of $167 million, which was down from $187 million the prior year. Net working capital decreased to $153 million versus $238 million a year ago. We will continue to focus on strengthening our balance sheet and positioning American Vanguard for a return to growth.鈥�

Mr. Kaye concluded, 鈥淚 believe that simplifying many of the things we do will allow us to better understand what is important and to deliver against high priority tasks. My message across the organization in this regard is straightforward 鈥� SIMPLIFY, PRIORITIZE and DELIVER. If we embrace this mantra, I believe that we can reaffirm American Vanguard鈥檚 position as a trusted provider of proven agricultural and environmental solutions.鈥�

Earnings Conference Call
The company will be hosting an earnings conference call at 9 am Eastern Time on June 6, 2025. The conference call can be accessed through the following link: . A replay can also be accessed through the website. In addition, the company plans to post on the Investor Relations section of the company鈥檚 website a presentation that should be read in connection with this earnings release.

About American Vanguard
American Vanguard Corporation is a diversified specialty and agriculture products company that develops and markets products for crop protection and management, turf and ornamentals management, and public and animal health. Over the past 20 years, through product and business acquisitions, the Company has significantly expanded its operations and now has more than 1,000 product registrations worldwide. To learn more about the Company, please reference .

The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release the matters set forth in this press release include forward-looking statements. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥減roject,鈥� 鈥渙utlook,鈥� 鈥渇orecast,鈥� 鈥渢arget,鈥� 鈥渢rend,鈥� 鈥減lan,鈥� 鈥済oal,鈥� or other words of comparable meaning or future-tense or conditional verbs such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� or 鈥渃ould.鈥� These forward-looking statements are based on the current expectations and estimates by the Company鈥檚 management and are subject to various risks and uncertainties that may cause results to differ from management鈥檚 current expectations. Such factors include risks detailed from time-to-time in the Company鈥檚 SEC reports and filings. All forward-looking statements, if any, in this release represent the Company鈥檚 judgment as of the date of this release. The company disclaims any intent or obligation to update these forward-looking statements.

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Company Contact

American Vanguard Corporation

Anthony Young, Director of Investor Relations

[email protected]

(949) 221-6119



Investor Representative

Alpha IR Group

Robert Winters

[email protected]

(929) 266-6315

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Source: American Vanguard Corporation