Financial Performance - Net sales decreased to 115.8million,down14135.1 million in Q1 2024[3] - Adjusted EBITDA fell to 3.0million,adeclineof8115.5 million in the same quarter last year[3] - Net loss per share was (0.30),comparedtoearningsof0.06 per share in Q1 2024[3] - Gross profit declined to 30.2million,down2942.4 million in Q1 2024, with a gross margin of 26%[14] - Net income for Q1 2025 was reported at (8,462)million,adecreasefrom1,552 million in Q1 2024[18] - Adjusted EBITDA for Q1 2025 was 2,973million,downfrom15,516 million in Q1 2024, indicating a significant decline[18] Operating Expenses and Costs - Operating expenses decreased by 5% on a GAAP basis and by 14% excluding transformation expenses and a non-recurring item[3] - Interest expense, net, increased to 3,765millioninQ12025from3,693 million in Q1 2024[18] - Depreciation and amortization expenses decreased to 4,749millioninQ12025from5,630 million in Q1 2024[18] - Stock compensation expenses decreased significantly to 559millioninQ12025from2,005 million in Q1 2024[18] - Transformation costs rose to 2,191millioninQ12025,comparedto1,152 million in Q1 2024, indicating increased investment in restructuring[18] Debt and Working Capital - Net working capital reduced by 85millionyear−over−year,from238 million to 153million[4]−Totaldebtdecreasedfrom187 million to 167millionyear−over−year[4]FutureOutlook−Thecompanyanticipatesastrongersecondhalfof2025duetoimprovingcustomerorderratesandoperationalimprovements[2]−Theagriculturalsectorisexpectedtorecover,withmanagementfocusingoncostreductioninitiativesifmarketconditionsdonotimprove[2]−Thecompanyaimstosimplifyoperationstoenhancefuturemarginsandreaffirmitspositionintheagriculturalsolutionsmarket[4]TaxandOtherProvisions−ProvisionforincometaxesinQ12025was387 million, compared to 1,484millioninQ12024[18]−Dacthalreturnswerereportedat(216) million in Q1 2025, with no comparable figure in Q1 2024[18]
American Vanguard (AVD)2025-06-06 10:15