AVALON HOLDINGS CORPORATION ANNOUNCES 2024 FULL YEAR AND FOURTH QUARTER RESULTS

Core Insights - Avalon Holdings Corporation reported financial results for the fourth quarter and fiscal year ended December 31, 2024, showing improvements in net income and revenues compared to the previous year [1] Financial Performance - In Q4 2024, net operating revenues were $17.6 million, slightly down from$17.7 million in Q4 2023 [2] - The net loss attributable to common shareholders decreased to $0.5 million in Q4 2024 from$0.8 million in Q4 2023, resulting in a basic net loss per share of $0.13 compared to$0.21 in the prior year [2] - For the full year 2024, net operating revenues increased to $83.8 million from$80.9 million in 2023 [3] - The company achieved a net income of $1.3 million for the year ended December 31, 2024, a significant turnaround from a net loss of$1.8 million in 2023, with basic net income per share rising to $0.34 from a loss of$0.46 [3] Business Operations - Avalon Holdings Corporation provides waste management services to various sectors including industrial, commercial, municipal, and governmental customers in selected northeastern and midwestern U.S. markets [4] - The company also operates Avalon Resorts and Clubs Inc., which includes a hotel, golf courses, country clubs, and a multipurpose recreation center [4] Revenue Breakdown - For Q4 2024, the revenue from waste management services was $9.8 million, down from$9.9 million in Q4 2023 [5] - Food, beverage, and merchandise sales remained stable at $2.9 million for both Q4 2024 and Q4 2023 [5] - Total golf and related operations revenue was$7.9 million in Q4 2024, slightly up from $7.8 million in Q4 2023 [5] Cost and Expenses - Operating costs for waste management services were$7.6 million in Q4 2024, down from $7.8 million in Q4 2023 [5] - Total current liabilities decreased to$15.5 million in 2024 from $17.9 million in 2023, indicating improved financial management [6]