WARREN, Ohio, Nov. 6, 2026 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the third quarter of 2026.
Net operating revenues in the third quarter of 2026 were $24.3 million compared with $25.7 million in the third quarter of 2025. The Company recorded net income attributable to Avalon Holdings Corporation common shareholders of $2.7 million in the third quarter of 2026 compared with net income attributable to Avalon Holdings Corporation common shareholders of $1.9 million in the third quarter of 2025. For the third quarter of 2026, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.69 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.49 in the third quarter of 2025.
For the first nine months of 2026, net operating revenues were $62.9 million compared with $62.1 million for the first nine months of 2025. The Company recorded a net income attributable to Avalon Holdings Corporation common shareholders of approximately $2.3 million in the first nine months of 2026 compared with net income attributable to Avalon Holdings Corporation common shareholders of $0.7 million in the first nine months of 2025. For the first nine months of 2026, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.60 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.17 in the first nine 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 Nine Months Ended
September 30, September 30,
2026 2025 2026 2025
Net operating revenues:
Waste management services $11,098 $12,918 $32,720 $32,338
Food, beverage and merchandise sales 4,800 4,553 10,926 10,337
Other golf and related operations 8,398 8,275 19,206 19,392
Total golf and related operations 13,198 12,828 30,132 29,729
Total net operating revenues 24,296 25,746 62,852 62,067
Costs and expenses:
Waste management services operating costs 8,446 10,259 24,997 25,330
Cost of food, beverage and merchandise 1,917 1,958 4,679 4,688
Golf and related operations operating costs 7,129 7,425 18,605 19,401
Depreciation and amortization expense 921 932 2,776 2,867
Selling, general and administrative expenses 2,718 2,826 8,007 7,835
Operating income 3,165 2,346 3,788 1,946
Other income (expense):
Interest expense, net (509) (512) (1,517) (1,532)
Loss on disposal - (15)
Income before income taxes 2,656 1,834 2,256 414
Provision for income taxes 41 45 113 100
Net income 2,615 1,789 2,143 314
Less net loss attributable to non-controlling interest in subsidiary (70) (113) (191) (363)
Net income attributable to Avalon Holdings Corporation common shareholders $2,685 $1,902 $2,334 $677
Income per share attributable to Avalon Holdings Corporation common shareholders:
Basic net income per share $0.69 $0.49 $0.60 $0.17
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)
September 30, December 31,
2026 2025
Assets
Current Assets:
Cash and cash equivalents $6,306 $4,114
Accounts receivable, net 10,220 9,819
Unbilled membership dues receivable 776 541
Inventories 1,710 1,555
Prepaid expenses 651 919
Other current assets 15 15
Total current assets 19,678 16,963
Property and equipment, net 52,666 53,982
Property and equipment under finance leases, net 6,999 6,267
Operating lease right-of-use assets 1,090 1,379
Restricted cash 7,804 8,730
Noncurrent deferred tax asset 32 32
Other assets, net 28 28
Total assets $88,297 $87,381
Liabilities and Equity
Current liabilities:
Current portion of long term debt $645 $614
Current portion of obligations under finance leases 364 384
Current portion of obligations under operating leases 373 362
Accounts payable 6,495 7,984
Accrued payroll and other compensation 1,710 1,244
Accrued taxes 533 660
Deferred membership dues revenue 4,608 3,529
Other liabilities and accrued expenses 1,950 2,054
Total current liabilities 16,678 16,831
Long term debt, net of current portion 27,545 28,032
Line of credit 3,200 3,200
Obligations under finance leases, net of current portion 961 1,248
Obligations under operating leases, net of current portion 717 1,017
Asset retirement obligation 100 100
Equity:
Total Avalon Holdings Corporation Shareholders' Equity 40,689 38,355
Non-controlling interest in subsidiary (1,593) (1,402)
Total shareholders' equity 39,096 36,953
Total liabilities and equity $88,297 $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