American Vanguard (AVD) Earnings & Sales Top Estimates In Q3
Zacks Investment Research | Nov 11, 2019 06:51AM ET
American Vanguard Corporation (NYSE:AVD) posted profit of $3.2 million or 11 cents per share for the third quarter of 2019, down around 51% from $6.5 million or 22 cents it earned a year ago. However, earnings per share for the quarter topped the Zacks Consensus Estimate of 9 cents.
The bottom line in the reported quarter was hurt by increased operating expenses and reduced factory activity. The results in the year-ago quarter were also favorably impacted by higher benefit associated with the reassessment of deferred purchase price consideration.
Revenues went up around 12% year over year to $124.9 million in the reported quarter. It surpassed the Zacks Consensus Estimate of $123 million. Sales were driven by the company’s international business.
Total U.S. sales went up 3% year over year in the reported quarter. Sales from the U.S. crop business edged up 1% year over year while sales from U.S. non-crop business rose 10%. Extreme weather conditions impacted American Vanguard’s domestic business in the quarter.
The company's international business saw a 27% increase in sales in the third quarter. The company witnessed growth across Central America, Brazil, Mexico and Canada.
American Vanguard Corporation Price, Consensus and EPS Surprise
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