American Vanguard Corporation (NYSE:AVD) Q4 2022 Results Conference Call March 13, 2023 4:30 PM ET
Company Participants
Tim Donnelly - CAO
Eric Wintemute - Chairman, CEO
David Johnson - CFO
Scott Hendrix - SVP, US & Canada Crop Sales
James Thompson - Director, Portfolio Strategy & Business Development
Ulrich Trogele - COO
Conference Call Participants
Chris Kapsch - Loop Capital Markets
Wayne Pinsent - Gabelli Funds
Brandon Rogers - ROTH
Operator
Greetings, and welcome to the American Vanguard 2022 Year-End Earnings Call. [Operator Instructions] Please note that this conference call is being recorded.
I will now turn the conference over to our host, Tim Donnelly, Chief Administrative Officer. Thank you. You may begin.
Tim Donnelly
Thank you, Diego, and welcome, everyone. Our speakers today will be Eric Wintemute, the Chairman and CEO of American Vanguard; David Johnson, the company's Chief Financial Officer; Scott Hendrix, AMVAC's Senior Vice President of Crop Sales for U.S. and Canada as well as for Application Technology; Jim Thompson, AMVAC's Director of Portfolio Strategy and Business Development. Also to assist in answering your questions, we have Bob Trogele, our Chief Operating Officer on hand.
American Vanguard will be filing our Form 10-K with the SEC in the next day or 2, that should provide additional detail with respect to the results that we are discussing on this call. Before beginning, let's take a moment for our safe harbor reminder. In today's call, the company may discuss forward-looking information. Such information and statements are based on estimates and assumptions by the company's management and are subject to various risks and uncertainties that may cause actual results to differ from management's current expectations.
Such factors can include weather conditions, changes in regulatory policy, competitive pressures and various other risks as detailed in the company's SEC reports and filings. All forward-looking statements represent the company's best judgment as of the date of this call and such information will not necessarily be updated by the company.
With that, I turn the call over to Eric Wintemute. Eric?
Eric Wintemute
Thank you, Tim, and welcome, everyone. I'm pleased to report that, as I had noted on our February call, our full year 2022 performance exceeded that of '21 in nearly all material respects. I'm extremely proud of the work our global team delivered net sales of growth of 9% and growing our net income by 47%. We achieved this result despite a flat fourth quarter, during which we were unable to sell our leading soil insecticides Aztec due to a supply chain and disruption, which has improved during the first quarter of this year.