Warren – November 06, 2026 -- Avalon Holdings Corporation (NYSE Amex: AWX) lifted third-quarter 2026 net income attributable to common shareholders to $2.7 million from $1.9 million a year earlier, even as net operating revenues fell to $24.3 million from $25.7 million.
Basic earnings per share rose to $0.69 from $0.49. Operating income increased to $3.2 million from $2.3 million, while net income reached $2.6 million versus $1.8 million in the third quarter of 2025.
Waste management revenue falls $1.8 million but costs fall faster
Waste management services revenue dropped to $11.1 million from $12.9 million in the quarter. Operating costs for the segment fell to $8.4 million from $10.3 million, leaving the gap between segment revenue and operating costs at roughly $2.65 million, in line with $2.66 million a year earlier.
For the nine months, waste management revenue edged up to $32.7 million from $32.3 million. Segment operating costs eased to $25.0 million from $25.3 million.
Golf and related operations add $370,000 in quarterly revenue
Total golf and related operations revenue climbed to $13.2 million from $12.8 million. Food, beverage and merchandise sales grew to $4.8 million from $4.6 million, and other golf and related revenue reached $8.4 million from $8.3 million. Golf operating costs declined to $7.1 million from $7.4 million.
Nine-month golf and related revenue totaled $30.1 million versus $29.7 million, while operating costs dropped to $18.6 million from $19.4 million.
Nine-month earnings per share more than triple to $0.60
Net operating revenues for the first nine months of 2026 reached $62.9 million, up from $62.1 million. Net income attributable to common shareholders rose to about $2.3 million from $0.7 million, lifting basic earnings per share to $0.60 from $0.17. Operating income for the period increased to $3.8 million from $1.9 million.
Net loss attributable to the non-controlling interest in a subsidiary narrowed to $191,000 for the nine months from $363,000. Net interest expense held near $1.5 million in both periods. Weighted average basic shares remained at 3.899 million.
Cash rises to $6.3 million as debt edges lower
Cash and cash equivalents stood at $6.3 million on Sept. 30, up from $4.1 million at year-end 2025. Restricted cash declined to $7.8 million from $8.7 million. Total assets were $88.3 million versus $87.4 million.
Long-term debt, net of current portion, decreased to $27.5 million from $28.0 million. The line of credit was unchanged at $3.2 million. Deferred membership dues revenue grew to $4.6 million from $3.5 million, while accounts payable fell to $6.5 million from $8.0 million.