American Vanguard reports Q4 EPS 25c vs. 13c last year

Yesterday evening, American Vanguard also reported Q4 revenue of $172.2M vs. $159.5M last year. Eric Wintemute, Chairman and CEO of American Vanguard, stated: “We rebounded sharply in Q4 after having weathered the effect of global destocking within the distribution channel, the oversupply of Chinese generic products into multiple regions, and the unavailability of our most profitable products due to supply chain issues. Increased demand during Q4 provided evidence that destocking activity continues to subside and that, even while showing greater discipline, procurement within the distribution channel is following more normal patterns. During the quarter, we achieved predicted revenue growth, maintained solid manufacturing operations, sustained strong profit margins by bolstering brand value and strengthened our balance sheet.” Shares of American Vanguard are up 23% in pre-market trading at $13.04.