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NEWPORT BEACH, Calif. - American Vanguard Corporation (NYSE:AVD), a diversified specialty and agricultural products company trading near its 52-week low of $3.94, has reported non-compliance with the New York Stock Exchange’s (NYSE) filing requirements. The company’s stock has declined over 67% in the past year, according to InvestingPro data. The company disclosed on April 2, 2025, that it failed to submit its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, within the prescribed timeframe.
Due to unforeseen delays in completing its year-end reporting process, American Vanguard has not met the NYSE’s continued listing standard Section 802.01E. The company acknowledged it would not manage to file the Form 10-K even within the 15-day extension allowed under Rule 12b-25. Additional time, resources, and efforts are being directed to finalize the necessary work to file the document as promptly as possible.
American Vanguard anticipates regaining compliance with NYSE listing standards by completing the Form 10-K filing soon. In the interim, the company expects its common stock to remain listed on the NYSE. Despite current challenges, InvestingPro analysis indicates the company is undervalued at current levels, with analysts projecting a return to profitability this year.
To accommodate this delay, American Vanguard has renegotiated the terms of its credit facility. An amendment with its senior lenders extends the deadline to provide audited financial statements for the fiscal year 2024 from 90 to 120 days starting December 31, 2024. Details of this amendment can be found in the Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC).
American Vanguard has a history of growth over the past two decades, expanding through product and business acquisitions. The company now holds over 1,000 product registrations worldwide, focusing on crop protection, turf and ornamentals management, and public and animal health sectors. Notable strengths include a solid current ratio of 1.89 and a 29-year track record of consistent dividend payments. For deeper insights into AVD’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.
The information in this article is based on a press release statement. The company has made forward-looking statements regarding its expectations for filing the overdue Form 10-K and intentions to comply with NYSE listing standards. However, these statements are subject to risks and uncertainties that may cause actual results to differ from management’s expectations, as detailed in the company’s SEC reports and filings.
In other recent news, American Vanguard Corporation reported fourth-quarter revenue of $169 million, which fell short of analyst expectations of $169.55 million. For the full year 2024, the company generated revenue of approximately $550 million, or $563 million when excluding the impact of a product recall. Looking ahead, American Vanguard has forecasted fiscal 2025 revenue between $565 million and $585 million, which is below analyst projections of $585 million. The company also set an adjusted EBITDA target range of $45 million to $52 million for 2025.
The company noted it incurred approximately $118 million in non-recurring cash and non-cash charges in 2024 as part of efforts to reposition the business. Total debt was reduced to $156 million by the end of the year, down from $179 million at the end of the third quarter. American Vanguard expects capital expenditures of about $10 million in 2025 and anticipates improved free cash flow, which will be directed towards further debt reduction. CEO Douglas Kaye III expressed optimism about achieving double-digit EBITDA growth over the next few years.
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