Avalon Holdings Reports 2021 Financial Results
WARREN, Ohio — Avalon Holdings Corp. has announced financial results for the fourth quarter and fiscal year ended Dec. 31, 2021.
Net operating revenues in the fourth quarter were $17.6 million compared with $14.6 million in the fourth quarter of 2020. The company recorded a net loss attributable to Avalon Holdings common shareholders of $0.5 million in the fourth quarter compared with net income of $0.5 million in the fourth quarter of 2020. Basic net loss per share attributable to common shareholders was 12 cents compared with basic net income per share of 12 cents in the fourth quarter of 2020.
For the year ended Dec. 31, net operating revenues were $70.4 million compared with $58.7 million for 2020. Net income attributable to common shareholders was $2 million for 2021 compared with less than $0.1 million for the year ended Dece. 31, 2020. For all of 2021, basic net income per share was 51 cents compared with basic net income per share of zero for 2020.
Avalon Holdings Corp. 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 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.
Published by The Business Journal, Youngstown, Ohio.