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
Michael J. Havalo, Chief Financial Officer, Avalon Holdings Corporation, One American Way, Warren, OH 44484-5555, (330) 856-8800