WARREN, Ohio, May 5, 2026 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the first quarter of 2026.
Net operating revenues in the first quarter of 2026 were $17.7 million compared with $16.1 million in the first quarter of 2025. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of $1.2 million in the first quarter of 2026 compared with net loss attributable to Avalon Holdings Corporation common shareholders of $1.5 million in the first quarter of 2025. For the first quarter of 2026, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.32 compared with basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.38 in the first quarter 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
March 31,
2026 2025
Net operating revenues:
Waste management services $11,508 $9,677
Food, beverage and merchandise sales 2,013 2,024
Other golf and related operations 4,137 4,367
Total golf and related operations 6,150 6,391
Total net operating revenues 17,658 16,068
Costs and expenses:
Waste management services operating costs 8,882 7,582
Cost of food, beverage and merchandise 993 1,012
Golf and related operations operating costs 4,905 5,097
Depreciation and amortization expense 929 970
Selling, general and administrative expenses 2,685 2,558
Operating loss (736) (1,151)
Other income (expense):
Interest expense, net (504) (510)
Loss before income taxes (1,240) (1,661)
Provision for income taxes 41 25
Net loss (1,281) (1,686)
Less net loss attributable to non-controlling interest in subsidiaries (46) (187)
Net loss attributable to Avalon Holdings Corporation common shareholders $(1,235) $(1,499)
Loss per share attributable to Avalon Holdings Corporation common shareholders:
Basic net loss per share $(0.32) $(0.38)
Weighted average shares outstanding - basic 3,899 3,899
AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands)
March 31, December 31,
2026 2025
Assets
Current Assets:
Cash and cash equivalents $2,378 $4,114
Accounts receivable, net 11,843 9,819
Unbilled membership dues receivable 707 541
Inventories 1,774 1,555
Prepaid expenses 989 919
Other current assets 15 15
Total current assets 17,706 16,963
Property and equipment, net 53,541 53,982
Property and equipment under finance leases, net 6,352 6,267
Operating lease right-of-use assets 1,390 1,379
Restricted cash 8,501 8,730
Noncurrent deferred tax asset 32 32
Other assets, net 27 28
Total assets $87,549 $87,381
Liabilities and Equity
Current liabilities:
Current portion of long term debt $624 $614
Current portion of obligations under finance leases 384 384
Current portion of obligations under operating leases 367 362
Accounts payable 7,736 7,984
Accrued payroll and other compensation 1,496 1,244
Accrued taxes 644 660
Deferred membership dues revenue 5,126 3,529
Other liabilities and accrued expenses 2,074 2,054
Total current liabilities 18,451 16,831
Long-term debt, net of current portion 27,872 28,032
Line of credit 3,200 3,200
Obligations under finance leases, net of current portion 1,231 1,248
Obligations under operating leases, net of current portion 1,023 1,017
Asset retirement obligation 100 100
Equity:
Total Avalon Holdings Corporation Shareholders' Equity 37,120 38,355
Non-controlling interest in subsidiaries (1,448) (1,402)
Total shareholders' equity 35,672 36,953
Total liabilities and equity $87,549 $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