AVALON HOLDINGS CORPORATION ANNOUNCES SECOND QUARTER RESULTS
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 SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except for per share amounts)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net operating revenues:
Waste management services
$ 10,113
$ 9,742
$ 21,622
$ 19,419
Food, beverage and merchandise sales
4,113
3,760
6,126
5,784
Other golf and related operations
6,672
6,750
10,809
11,117
Total golf and related operations
10,785
10,510
16,935
16,901
Total net operating revenues
20,898
20,252
38,557
36,320
Costs and expenses:
Waste management services operating costs
7,669
7,489
16,552
15,071
Cost of food, beverage and merchandise
1,770
1,717
2,762
2,730
Golf and related operations operating costs
6,571
6,878
11,476
11,975
Depreciation and amortization expense
927
965
1,855
1,935
Selling, general and administrative expenses
2,603
2,453
5,290
5,010
Operating income (loss)
1,358
750
622
(401)
Other income (expense):
Interest expense
(504)
(510)
(1,008)
(1,020)
Loss on disposal
(15)
-
(15)
-
Income (loss) before income taxes
839
240
(401)
(1,421)
Provision for income taxes
30
29
71
54
Net income (loss)
809
211
(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
3,899
3,899
3,899
3,899
AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands)
June 30,
December 31,
2026
2025
Assets
Current Assets:
Cash and cash equivalents
$ 4,795
$ 4,114
Accounts receivable, net
10,183
9,819
Unbilled membership dues receivable
988
541
Inventories
1,838
1,555
Prepaid expenses
677
919
Other current assets
15
15
Total current assets
18,496
16,963
Property and equipment, net
53,147
53,982
Property and equipment under finance leases, net
6,485
6,267
Operating lease right-of-use assets
1,269
1,379
Restricted cash
8,166
8,730
Noncurrent deferred tax asset
32
32
Other assets, net
27
28
Total assets
$ 87,622
$ 87,381
Liabilities and Equity
Current liabilities:
Current portion of long term debt
$ 634
$ 614
Current portion of obligations under finance leases
376
384
Current portion of obligations under operating leases
372
362
Accounts payable
6,598
7,984
Accrued payroll and other compensation
1,620
1,244
Accrued taxes
660
660
Deferred membership dues revenue
5,766
3,529
Other liabilities and accrued expenses
2,090
2,054
Total current liabilities
18,116
16,831
Long term debt, net of current portion
27,710
28,032
Line of credit
3,200
3,200
Obligations under finance leases, net of current portion
1,118
1,248
Obligations under operating leases, net of current portion
897
1,017
Asset retirement obligation
100
100
Equity:
Total Avalon Holdings Corporation Shareholders' Equity
38,004
38,355
Non-controlling interest in subsidiary
(1,523)
(1,402)
Total shareholders' equity
36,481
36,953
Total liabilities and equity
$ 87,622
$ 87,381
SOURCE Avalon Holdings Corporation