American Vanguard Indicates That Unfavorable Domestic Weather Has Affected Second Quarter 2019 Performance
American Vanguard Corporation ($0.10 Par Value) (AVD)
Last american vanguard corporation ($0.10 par value) earnings: 3/9 04:05 pm
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US:NYSE Investor Relations:
american-vanguard.com/newsmedia/investorpresentations/tabid/182/default.aspx
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Source: Business Wire
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--American Vanguard Corporation (NYSE:AVD), today announced that recent prolonged rain, cold and flooding throughout the U.S. has affected its second quarter financial performance. The Company anticipates that, while net sales for the quarter will exceed those of the comparable quarter in 2018, they will be about 10% below the analysts’ consensus for the period ended June 30, 2019. This top line performance will adversely affect net income for the period and earnings per share are likely to be approximately half the current consensus expectation.Eric Wintemute, Chairman and CEO of American Vanguard commented, “As has been widely reported, record precipitation and cold weather delayed, and in some cases prevented, normal crop planting throughout the Midwest and Southeast regions of the United States. Many growers had insufficient time to use the normal measure of pre-plant crop inputs, others were unable to fully plant their intended acreage, a
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