American Vanguard Issues 2019 Year-End Financial Guidance Update
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 based on the preliminary closing of its accounts for the year ended December 31, 2019, it is providing the following updated guidance. This information is subject to the completion of the audit of the consolidated financial statements for the reporting period, which the company will include in its 2019 Form 10-K in early March 2020.Eric Wintemute, Chairman and CEO of American Vanguard, reported, “We expect 2019 full-year net sales to be approximately $470 million, which is slightly below our previous estimate of $475 million. Overall gross margin for the year will be largely unchanged at about 38%, and we should experience a savings in operating expenses which will end at approximately $152 million. All told, then, we expect that our full-year earnings per share will be at or slightly below the median of the range being forecast by our analysts.”Mr. Wintemute continued, “As we me
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