American Vanguard Corporation (NYSE:AVD) Q3 2024 Earnings Conference Call November 11, 2024 4:30 PM ET
Company Participants
Anthony Young - Director, Investor Relations
Timothy Donnelly - Acting Chief Executive Officer
David Johnson - Vice President, Chief Financial Officer & Treasurer
Mark Bassett - Board Member
Mason Bennett - Vice President, North American Crop, American Vanguard Corp.
Conference Call Participants
Ben Klieve - Lake Street Capital Markets LLC
Anthony Young
Thank you, operator. Good afternoon and welcome to American Vanguard's Third Quarter 2024 Earnings Call. Our prepared remarks will be led by Tim Donnelly, Acting Chief Executive Officer; David Johnson, Chief Financial Officer; and Mark Bassett, Board Member and Architect of our Business Transformation. Mason Bennett, Vice President, North America Crop, is also available to answer agricultural-related questions. We have prepared presentation slides which we will reference during the call. These slides are posted on the Investor Relations section of the American Vanguard website.
Let's begin this call with our forward-looking cautionary reminder. During this call, we may discuss forward-looking information. All forward-looking statements are estimates by the company's management and are subject to various risks and uncertainties that may cause actual results to differ. Such factors include weather conditions, changes in regulatory policy and other risks as detailed in the company's SEC reports and filings. All forward-looking statements represent the company's judgment as of the date of this release and such information will not necessarily be updated by the company.
It is now my pleasure to turn the call over to Acting CEO, Tim Donnelly.
Timothy Donnelly
Thanks, Anthony. Hello, everyone and welcome. Today, we want to cover 3 things: first, our full year 2024 adjusted EBITDA target which remains unchanged; second, our Q3 financial performance which, while below our expectations, should be trending upward in light of improving market conditions; and third, our business transformation which we expect to generate an even higher benefit than we had previously targeted.
Before we delve into our substantive comments and in light of the recent election, we would like to thank EPA administrator, Michael Regan and his team, with whom we have worked closely over the past 4 years. We look forward to working with President-Elect Trump's transition team and the newly appointed administrator when they are approved by the U.S. Senate. While the EPA is our primary regulator, we also view the agency as a trusted partner. American Vanguard has worked well with the EPA through numerous administrations and we look forward to continuing this relationship.