Friday, March 01, 2019 10:25:10 AM
But I wouldn't look for too much from the 10K. 2018 was an excellent year for them no doubt, with a big increase in profits. But they're taking a substantial impairment charge in Q4 of $3.1M-$3.3M to write down their salt water injection wells:
https://www.sec.gov/Archives/edgar/data/1061069/000143774918021678/awx20181206_8k.htm
There is a silver lining on this, which I don't think the market has sniffed out yet. AWX has been losing money on these salt water injection wells. Approx $800K/year. From the last 10Q:
"During the first nine months of 2018 and 2017, the salt water injection wells incurred a loss before income taxes of approximately $0.6 million and $0.7 million, respectively. The loss was primarily due to depreciation expense recorded on the facility and legal and professional costs incurred relating to Avalon’s appeal and mandamus processes described above."
Without the $800K expense, that would add .20/share to annual earnings! Probably won't eliminate them entirely, but those expenses should be greatly reduced starting in 2019. Q1 is seasonally their worst quarter. But Q2 & Q3 are seasonally strong so AWX likely to post some huge earnings in those quarters. Which would cause this low floater to spike higher again.
Recent AWX News
- AVALON HOLDINGS CORPORATION ANNOUNCES 2023 FULL YEAR AND FOURTH QUARTER RESULTS • PR Newswire (US) • 03/21/2024 09:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 10:02:15 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 01/12/2024 11:11:57 AM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 12/08/2023 11:07:57 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/09/2023 10:20:37 PM
- AVALON HOLDINGS CORPORATION ANNOUNCES THIRD QUARTER RESULTS • PR Newswire (US) • 11/09/2023 10:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/19/2023 06:00:21 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/11/2023 09:05:44 PM
- AVALON HOLDINGS CORPORATION ANNOUNCES SECOND QUARTER RESULTS • PR Newswire (US) • 08/11/2023 09:01:00 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 08/02/2023 12:47:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/28/2023 09:06:12 PM
- AVALON HOLDINGS CORPORATION ANNOUNCES ORGANIZATIONAL CHANGES • PR Newswire (US) • 06/28/2023 11:33:00 AM
- AVALON HOLDINGS CORPORATION ANNOUNCES FIRST QUARTER RESULTS • PR Newswire (US) • 05/10/2023 09:01:00 PM
- AVALON HOLDINGS CORPORATION ANNOUNCES ORGANIZATIONAL CHANGES • PR Newswire (US) • 04/28/2023 09:01:00 PM
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