AVALON HOLDINGS CORPORATION ANNOUNCES FIRST QUARTER RESULTS
Net operating revenues in the first quarter of 2026 were
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AVALON HOLDINGS CORPORATION AND SUBSIDIARIES |
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Condensed Consolidated Statements of Operations (Unaudited) |
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(in thousands, except for per share amounts) |
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Three Months Ended |
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2026 |
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2025 |
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Net operating revenues: |
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Waste management services |
$ 11,508 |
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$ 9,677 |
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Food, beverage and merchandise sales |
2,013 |
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2,024 |
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Other golf and related operations |
4,137 |
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4,367 |
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Total golf and related operations |
6,150 |
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6,391 |
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Total net operating revenues |
17,658 |
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16,068 |
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Costs and expenses: |
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Waste management services operating costs |
8,882 |
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7,582 |
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Cost of food, beverage and merchandise |
993 |
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1,012 |
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Golf and related operations operating costs |
4,905 |
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5,097 |
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Depreciation and amortization expense |
929 |
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970 |
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Selling, general and administrative expenses |
2,685 |
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2,558 |
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Operating loss |
(736) |
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(1,151) |
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Other income (expense): |
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Interest expense, net |
(504) |
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(510) |
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Loss before income taxes |
(1,240) |
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(1,661) |
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Provision for income taxes |
41 |
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25 |
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Net loss |
(1,281) |
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(1,686) |
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Less net loss attributable to non-controlling interest in subsidiaries |
(46) |
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(187) |
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Net loss attributable to |
$ (1,235) |
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$ (1,499) |
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Loss per share attributable to |
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Basic net loss per share |
$ (0.32) |
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$ (0.38) |
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Weighted average shares outstanding - basic |
3,899 |
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3,899 |
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AVALON HOLDINGS CORPORATION AND SUBSIDIARIES |
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Condensed Consolidated Balance Sheets (Unaudited) |
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(in thousands) |
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2026 |
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2025 |
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Assets |
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Current Assets: |
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Cash and cash equivalents |
$ 2,378 |
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$ 4,114 |
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Accounts receivable, net |
11,843 |
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9,819 |
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Unbilled membership dues receivable |
707 |
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541 |
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Inventories |
1,774 |
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1,555 |
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Prepaid expenses |
989 |
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919 |
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Other current assets |
15 |
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15 |
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Total current assets |
17,706 |
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16,963 |
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Property and equipment, net |
53,541 |
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53,982 |
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Property and equipment under finance leases, net |
6,352 |
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6,267 |
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Operating lease right-of-use assets |
1,390 |
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1,379 |
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Restricted cash |
8,501 |
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8,730 |
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Noncurrent deferred tax asset |
32 |
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32 |
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Other assets, net |
27 |
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28 |
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Total assets |
$ 87,549 |
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$ 87,381 |
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Liabilities and Equity |
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Current liabilities: |
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Current portion of long term debt |
$ 624 |
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$ 614 |
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Current portion of obligations under finance leases |
384 |
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384 |
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Current portion of obligations under operating leases |
367 |
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362 |
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Accounts payable |
7,736 |
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7,984 |
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Accrued payroll and other compensation |
1,496 |
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1,244 |
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Accrued taxes |
644 |
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660 |
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Deferred membership dues revenue |
5,126 |
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3,529 |
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Other liabilities and accrued expenses |
2,074 |
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2,054 |
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Total current liabilities |
18,451 |
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16,831 |
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Long-term debt, net of current portion |
27,872 |
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28,032 |
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Line of credit |
3,200 |
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3,200 |
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Obligations under finance leases, net of current portion |
1,231 |
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1,248 |
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Obligations under operating leases, net of current portion |
1,023 |
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1,017 |
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Asset retirement obligation |
100 |
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100 |
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Equity: |
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Total Avalon Holdings Corporation Shareholders' Equity |
37,120 |
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38,355 |
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Non-controlling interest in subsidiaries |
(1,448) |
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(1,402) |
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Total shareholders' equity |
35,672 |
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36,953 |
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Total liabilities and equity |
$ 87,549 |
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$ 87,381 |
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