Avalon Holdings Corporation (Avalon) reported increased net operating revenues of $24.2 million for Q3 2024 compared to $24.0 million in Q3 2023, with a net income of $1.8 million, or $0.47 per share, up from $0.9 million, or $0.23 per share, in the same period last year. The waste management services segment saw a slight decrease in revenues from $11.7 million to $11.5 million, attributed to a reduction in continuous and event work projects. Conversely, the golf and related operations segment experienced an increase from $12.2 million to $12.8 million, due to higher business activity at The Grand Resort and country clubs. Operating costs for waste management services decreased to $8.9 million, while golf and related operations costs dropped to $9.3 million, reflecting cost-cutting efforts. For the nine months ended September 30, 2024, Avalon's net operating...Show More

Avalon Holdings Corporation (Avalon) reported increased net operating revenues of $24.2 million for Q3 2024 compared to $24.0 million in Q3 2023, with a net income of $1.8 million, or $0.47 per share, up from $0.9 million, or $0.23 per share, in the same period last year. The waste management services segment saw a slight decrease in revenues from $11.7 million to $11.5 million, attributed to a reduction in continuous and event work projects. Conversely, the golf and related operations segment experienced an increase from $12.2 million to $12.8 million, due to higher business activity at The Grand Resort and country clubs. Operating costs for waste management services decreased to $8.9 million, while golf and related operations costs dropped to $9.3 million, reflecting cost-cutting efforts. For the nine months ended September 30, 2024, Avalon's net operating revenues rose to $66.2 million from $63.2 million in the previous year, with net income reaching $1.8 million compared to a net loss of $0.9 million in 2023. The company's financial position improved with a working capital deficit reduction from $3.9 million to $0.5 million. Avalon's growth strategy focuses on retaining customers, gaining market share, and enhancing shareholder value through internal growth in waste management services, while the golf and related operations segment aims to attract new members and retain existing ones. Avalon's management believes future operations will generate sufficient cash flow to meet operating requirements and service debt.