Avalon Holdings Corporation reported a net operating revenue of $17.7 million for the first quarter of 2026, marking a 9.9% increase from $16.1 million in the same period of 2025. The growth was primarily driven by the waste management services segment, which generated $11.5 million in revenue, up from $9.7 million year-over-year. This increase was attributed to higher continuous work and event work projects. Conversely, the golf and related operations segment saw a slight decline in revenue, totaling $6.2 million compared to $6.4 million in the prior year, largely due to decreased spa and salon revenues.
Despite the increase in revenue, Avalon reported a net loss of $1.2 million, or $0.32 per share, for the first quarter of 2026, an improvement from a net loss of $1.5 million, or $0.38 per share, in the same quarter of 2025. The company’s operating loss decreased to $736,000 from $1.2 million, reflecting better cost management and operational efficiencies. Total costs of operations for the waste management segment rose to $8.9 million, while costs for the golf and related operations segment decreased to $5.9 million, indicating a focus on reducing expenses in that area.
Avalon’s balance sheet as of March 31, 2026, showed total assets of $87.5 million, a slight increase from $87.4 million at the end of 2025. Current assets rose to $17.7 million, driven by an increase in accounts receivable, which reached $11.8 million, up from $9.8 million. The company’s working capital deficit was approximately $0.7 million, a shift from a surplus of $0.1 million at the end of the previous year, primarily due to increased accrued payroll and deferred membership dues revenue.
In terms of strategic developments, Avalon is focusing on enhancing its waste management services through improved sales and marketing efforts, aiming to retain existing customers and attract new business. The company is also investing in capital expenditures, with plans to spend between $4.0 million and $5.0 million in 2026, primarily for renovations at The Grand Resort and the Squaw Creek Country Club. Additionally, Avalon is navigating ongoing legal challenges related to its suspended saltwater injection wells, which have been a significant operational concern since 2014.
Looking ahead, Avalon remains optimistic about its growth prospects, particularly in the waste management sector, where it aims to leverage its relationships with disposal facilities to provide flexible solutions for customers. The company is also committed to improving its golf and related operations, with ongoing renovations expected to enhance the customer experience and potentially increase membership at the Avalon Golf and Country Club. However, Avalon acknowledges the challenges posed by economic conditions, regulatory changes, and competitive pressures that could impact its future performance.
About AVALON HOLDINGS CORP
Avalon Holdings Corporation operates two primary business segments: waste management services and golf and related operations. Its waste management segment offers hazardous and nonhazardous waste disposal brokerage, captive landfill management, and salt water injection well services to industrial, commercial, municipal, and government clients in the northeastern and midwestern U.S. The golf segment manages four golf courses, country clubs, a hotel resort, athletic centers, and spa services, generating revenue from memberships, fees, and hospitality amenities. Avalon’s integrated model combines environmental services with leisure and hospitality offerings, targeting regional customers through specialized expertise and facility management.
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