AVALON HOLDINGS CORPORATION ANNOUNCES SECOND QUARTER RESULTS

Friday, August 7, 2026 · 5:05 PM ET PR Newswire

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

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SOURCE Avalon Holdings Corporation

AWX Avalon Holdings Corp

Avalon Reported Earnings

AVALON HOLDINGS CORPORATION ANNOUNCES SECOND QUARTER RESULTS