American Vanguard Corporation (NYSE:AVD) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET
Company Participants
William Kuser - VP, IR
Eric Wintemute - Chairman and CEO
David Johnson - CFO
Conference Call Participants
Brandon Rogers - ROTH Capital Partners
Chris Kapsch - Loop Capital Markets
Wayne Pinsent - Gabelli Funds
Operator
…Earnings Conference Call. At this time all participants are in a listen only mode. A brief question-and-answer session will follow the formal presentation [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Bill Kuser, Vice President of Investor Relations. Thank you, Bill. You may begin.
William Kuser
Well, thank you very much, Alicia, and welcome, everyone, to American Vanguard's third quarter and nine months earnings review. Our speakers today will be Mr. Eric Wintemute, the Chairman and CEO of American Vanguard; Mr. David Johnson, the company's Chief Financial Officer; also assisting in answering your questions Mr. Bob Trogele, the Company's Chief Operating Officer.
Before beginning, let's take a moment for our usual cautionary 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 could include weather conditions, changes in regulatory policy, competitive pressures and various other risks that are detailed in the company's SEC reports and filings. All forward-looking statements represent the company's best judgment as of this date. Such information will not necessarily be updated by the company.
With that said, we turn the call over to Eric.
Eric Wintemute
Thank you, Bill. Hello, everyone. Thank you for joining our call today.
This is a challenging time for American Vanguard and for our entire sector. Our stock price has been under heavy pressure as has that of our competitors. Accordingly, as per Slide 5, I want to first talk about what we are doing to improve our short- and long-term profitability. I believe that growing profitability in current market conditions will require us to take strong calculated measures.
We are preparing to take those measures, including cost margin improvement initiatives, digital transformation and structural design review. We are confident that we and our investors will be rewarded by them. After a discussion of these measures, I will give detail on the full year 2023 targets and our 2024 outlook. In short, we expect to rebound in Q4 and are optimistic about the upcoming year.