AVALON HOLDINGS CORPORATION ANNOUNCES 2025 FULL YEAR AND FOURTH QUARTER RESULTS
WARREN, Ohio, March 19, 2026 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the fourth quarter and fiscal year ended December 31, 2025.
Net operating revenues in the fourth quarter of 2025 were $21.5 million compared with $17.6 million in the fourth quarter of 2024. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of $0.4 million in the fourth quarter of 2025 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $0.5 million in the fourth quarter of 2024. For the fourth quarter of 2025, 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 $0.13 in the fourth quarter of 2024.
For the year ended December 31, 2025, net operating revenues were $83.6 million compared with $83.8 million for the year ended December 31, 2024. The Company recorded a net income attributable to Avalon Holdings Corporation common shareholders of $0.3 million for the year ended December 31, 2025 compared with a net income attributable to Avalon Holdings Corporation common shareholders of $1.3 million for the year ended December 31, 2024. For the year ended December 31, 2025, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.08 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.34 for year ended December 31, 2024.
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
Year Ended
December 31,
December 31,
2025
2024
2025
2024
Net operating revenues:
Waste management services
$ 13,673
$ 9,771
$ 46,010
$ 45,922
Food, beverage and merchandise sales
2,909
2,915
13,247
13,537
Other golf and related operations
4,897
4,959
24,288
24,336
Total golf and related operations
7,806
7,874
37,535
37,873
Total net operating revenues
21,479
17,645
83,545
83,795
Costs and expenses:
Waste management services operating costs
10,865
7,568
36,195
35,940
Cost of food, beverage and merchandise
1,382
1,388
6,069
6,105
Golf and related operations operating costs
5,548
5,596
24,949
24,521
Depreciation and amortization expense
937
949
3,803
3,906
Selling, general and administrative expenses
2,668
2,278
10,504
10,248
Operating (loss) income
79
(134)
2,025
3,075
Other income (expense):
Interest expense
(510)
(509)
(2,042)
(2,040)
Other income, net
-
-
-
7
Income (loss) before income taxes
(431)
(643)
(17)
1,042
Provision for income taxes
(18)
(36)
82
90
Net income (loss)
(413)
(607)
(99)
952
Less net loss attributable to non-controlling interest in subsidiaries
(57)
(110)
(420)
(366)
Net income (loss) attributable to Avalon Holdings Corporation common shareholders
$ (356)
$ (497)
$ 321
$ 1,318
Income (loss) per share attributable to Avalon Holdings Corporation common shareholders:
Basic net income (loss) per share
$ (0.09)
$ (0.13)
$ 0.08
$ 0.34
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)
December 31,
December 31,
2025
2024
Assets
Current Assets:
Cash and cash equivalents
$ 4,114
$ 2,803
Accounts receivable, net
9,819
8,595
Unbilled membership dues receivable
541
582
Inventories
1,555
1,558
Prepaid expenses
919
1,003
Other current assets
15
15
Total current assets
16,963
14,556
Property and equipment, net
53,982
55,582
Property and equipment under finance leases, net
6,267
5,647
Operating lease right-of-use assets
1,379
1,383
Restricted cash
8,730
8,958
Noncurrent deferred tax asset, net
32
27
Other assets, net
28
33
Total assets
$ 87,381
$ 86,186
Liabilities and Equity
Current liabilities:
Current portion of long term debt
$ 614
$ 575
Current portion of obligations under finance leases
384
201
Current portion of obligations under operating leases
362
365
Accounts payable
7,984
7,116
Accrued payroll and other compensation
1,244
1,064
Accrued taxes
660
594
Deferred membership dues revenue
3,529
3,524
Other liabilities and accrued expenses
2,054
2,024
Total current liabilities
16,831
15,463
Long term debt, net of current portion
28,032
28,646
Line of credit
3,200
3,200
Obligations under finance leases, net of current portion
1,248
707
Obligations under operating leases, net of current portion
1,017
1,018
Asset retirement obligation
100
100
Equity:
Total Avalon Holdings Corporation Shareholders' Equity
38,355
38,034
Non-controlling interest in subsidiaries
(1,402)
(982)
Total shareholders' equity
36,953
37,052
Total liabilities and equity
$ 87,381
$ 86,186
SOURCE Avalon Holdings Corporation