WARREN, Ohio, May 5, 2026 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the first quarter of 2026.

Net operating revenues in the first quarter of 2026 were $17.7 million compared with $16.1 million in the first quarter of 2025. The Company recorded a net loss attributable to Avalon Holdings Corporation common shareholders of $1.2 million in the first quarter of 2026 compared with net loss attributable to Avalon Holdings Corporation common shareholders of $1.5 million in the first quarter of 2025. For the first quarter of 2026, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.32 compared with basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.38 in the first quarter of 2025.

Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalon Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated resort amenities, four golf courses and related country clubs and a multipurpose recreation center.

AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except for per share amounts)



	Three Months Ended
	March 31,
	2026	2025

Net operating revenues:
Waste management services	$ 11,508	$ 9,677

Food, beverage and merchandise sales	2,013	2,024
Other golf and related operations	4,137	4,367
Total golf and related operations	6,150	6,391

Total net operating revenues	17,658	16,068

Costs and expenses:
Waste management services operating costs	8,882	7,582
Cost of food, beverage and merchandise	993	1,012
Golf and related operations operating costs	4,905	5,097
Depreciation and amortization expense	929	970
Selling, general and administrative expenses	2,685	2,558
Operating loss	(736)	(1,151)

Other income (expense):
Interest expense, net	(504)	(510)
Loss before income taxes	(1,240)	(1,661)

Provision for income taxes	41	25
Net loss	(1,281)	(1,686)

Less net loss attributable to non-controlling interest in subsidiaries	(46)	(187)
Net loss attributable to Avalon Holdings Corporation common shareholders	$ (1,235)	$ (1,499)

Loss per share attributable to Avalon Holdings Corporation common shareholders:
Basic net loss per share	$ (0.32)	$ (0.38)

Weighted average shares outstanding - basic	3,899	3,899

AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands)


	March 31,	December 31,
	2026	2025
Assets
Current Assets:
Cash and cash equivalents	$ 2,378	$ 4,114
Accounts receivable, net	11,843	9,819
Unbilled membership dues receivable	707	541
Inventories	1,774	1,555
Prepaid expenses	989	919
Other current assets	15	15
Total current assets	17,706	16,963

Property and equipment, net	53,541	53,982
Property and equipment under finance leases, net	6,352	6,267
Operating lease right-of-use assets	1,390	1,379
Restricted cash	8,501	8,730
Noncurrent deferred tax asset	32	32
Other assets, net	27	28
Total assets	$ 87,549	$ 87,381

Liabilities and Equity
Current liabilities:
Current portion of long term debt	$ 624	$ 614
Current portion of obligations under finance leases	384	384
Current portion of obligations under operating leases	367	362
Accounts payable	7,736	7,984
Accrued payroll and other compensation	1,496	1,244
Accrued taxes	644	660
Deferred membership dues revenue	5,126	3,529
Other liabilities and accrued expenses	2,074	2,054
Total current liabilities	18,451	16,831

Long-term debt, net of current portion	27,872	28,032
Line of credit	3,200	3,200
Obligations under finance leases, net of current portion	1,231	1,248
Obligations under operating leases, net of current portion	1,023	1,017
Asset retirement obligation	100	100

Equity:
Total Avalon Holdings Corporation Shareholders' Equity	37,120	38,355
Non-controlling interest in subsidiaries	(1,448)	(1,402)
Total shareholders' equity	35,672	36,953
Total liabilities and equity	$ 87,549	$ 87,381

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SOURCE Avalon Holdings Corporation

AVALON HOLDINGS CORPORATION ANNOUNCES FIRST QUARTER RESULTS