American Vanguard (US:AVD)2025-06-06 13:40Financial Performance - Total net revenue decreased by 14% year-over-year, from $135.1 million in Q1 2024 to $115.8 million in Q1 2025 [11, 33] - U S Crop sales declined by 18% year-over-year [12, 33] - International sales decreased by 14% year-over-year, from $50.1 million to $43.0 million [11, 33] - Adjusted EBITDA decreased significantly from $15.5 million in Q1 2024 to $3.0 million in Q1 2025 [14] - Adjusted EBITDA margin declined from 11.3% in Q1 2024 to 2.6% in Q1 2025 [14] - The company is adjusting its full year adjusted EBITDA target to $40 - $44 million and its full year Revenue target to $535 million - $545 million [6, 29] Cost Management and Working Capital - Operating expenses decreased by $5 million, a 14% decline compared to the prior year [6, 18, 23] - R&D expenses declined by $2.1 million [6, 18, 23] - SG&A expenses declined by $700,000 [6, 18, 23] - Net working capital was reduced by $85 million year-over-year [6, 20]