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American Vanguard (AVD) Q1 Earnings Beat Estimates, Sales Lag
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American Vanguard Corporation (AVD - Free Report) posted profit of $0.5 million or 2 cents per share for the first quarter of 2020, down from $3.9 million or 13 cents it earned a year ago. Earnings per share for the quarter beat the Zacks Consensus Estimate of 1 cent.
Revenues were $96 million for the reported quarter, down 4% year over year. It marginally missed the Zacks Consensus Estimate of $96.1 million.
American Vanguard saw flat sales in its domestic business while its international business witnessed lower sales due to weaker market conditions and impacts of currency exchange translation. Sales by crop and product line were mixed across the company’s businesses in the reported quarter.
American Vanguard Corporation Price, Consensus and EPS Surprise
Revenues from American Vanguard’s domestic crop business for the reported quarter was flat year over year at roughly $50.4 million.
Sales from the domestic non-crop business went down 2% to around $11 million.
Revenues from international businesses fell 9% to around $34.6 million.
Financials
American Vanguard ended the quarter with cash and cash equivalents of roughly $5.5 million, down around 17% year over year. Long-term debt was roughly $168.2 million, up around 13% year over year.
Outlook
American Vanguard said that the coronavirus pandemic did not materially impact its performance in the first quarter. The company is not yet able to determine the long-term effects of the outbreak. American Vanguard noted that it is focusing on maximizing its results during the remainder of 2020 and is poised to perform in line with its peers.
Price Performance
American Vanguard’s shares are down 5.7% over a year, compared with the 29% growth of the industry it belongs to.
Zacks Rank & Key Picks
American Vanguard currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space are Equinox Gold Corp. (EQX - Free Report) , The Scotts Miracle-Gro Company (SMG - Free Report) and Newmont Corporation (NEM - Free Report) .
Equinox Gold has a projected earnings growth rate of 231% for the current year. The company’s shares have rallied roughly 44% in a year. It currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Scotts Miracle-Gro has an expected earnings growth rate of 17.7% for the current fiscal year. The company’s shares have gained roughly 58% in the past year. It currently carries a Zacks Rank #2 (Buy).
Newmont has a projected earnings growth rate of 85.6% for the current year. The company’s shares have surged around 103% in a year. It currently has a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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American Vanguard (AVD) Q1 Earnings Beat Estimates, Sales Lag
American Vanguard Corporation (AVD - Free Report) posted profit of $0.5 million or 2 cents per share for the first quarter of 2020, down from $3.9 million or 13 cents it earned a year ago. Earnings per share for the quarter beat the Zacks Consensus Estimate of 1 cent.
Revenues were $96 million for the reported quarter, down 4% year over year. It marginally missed the Zacks Consensus Estimate of $96.1 million.
American Vanguard saw flat sales in its domestic business while its international business witnessed lower sales due to weaker market conditions and impacts of currency exchange translation. Sales by crop and product line were mixed across the company’s businesses in the reported quarter.
American Vanguard Corporation Price, Consensus and EPS Surprise
American Vanguard Corporation price-consensus-eps-surprise-chart | American Vanguard Corporation Quote
Sales by Regions and Categories
Revenues from American Vanguard’s domestic crop business for the reported quarter was flat year over year at roughly $50.4 million.
Sales from the domestic non-crop business went down 2% to around $11 million.
Revenues from international businesses fell 9% to around $34.6 million.
Financials
American Vanguard ended the quarter with cash and cash equivalents of roughly $5.5 million, down around 17% year over year. Long-term debt was roughly $168.2 million, up around 13% year over year.
Outlook
American Vanguard said that the coronavirus pandemic did not materially impact its performance in the first quarter. The company is not yet able to determine the long-term effects of the outbreak. American Vanguard noted that it is focusing on maximizing its results during the remainder of 2020 and is poised to perform in line with its peers.
Price Performance
American Vanguard’s shares are down 5.7% over a year, compared with the 29% growth of the industry it belongs to.
Zacks Rank & Key Picks
American Vanguard currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space are Equinox Gold Corp. (EQX - Free Report) , The Scotts Miracle-Gro Company (SMG - Free Report) and Newmont Corporation (NEM - Free Report) .
Equinox Gold has a projected earnings growth rate of 231% for the current year. The company’s shares have rallied roughly 44% in a year. It currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Scotts Miracle-Gro has an expected earnings growth rate of 17.7% for the current fiscal year. The company’s shares have gained roughly 58% in the past year. It currently carries a Zacks Rank #2 (Buy).
Newmont has a projected earnings growth rate of 85.6% for the current year. The company’s shares have surged around 103% in a year. It currently has a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>