American Vanguard Corrects Third Party Errors reporting on Its Full Year 2022 EBITDA Expectations and Second Quarter & Mid-Year 2022 Results

Aug 10, 2022

American Vanguard Corporation (NYSE: AVD) today made the following clarifying comments regarding the misreporting of its financial results by third parties yesterday. At about the time the Company issued its earnings release for the three- and six-month periods ended June 30, 2022 (prior to trading on August 9, 2022), Bloomberg inexplicably reduced consensus EBITDA estimates for full-year 2022 from $75 million to $50.8 million. It appears that Bloomberg may have subtracted Q1 2022 EBITDA from the 2022 full-year calculation. In fact, as mentioned on the earnings call (and discussed below), the Company raised its adjusted EBITDA target for 2022 to between $79 million and $81 million.

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