Avalon more than doubles as Q2 results pop

Avalon Holdings Corporation (NYSE: AWX) ballooned Friday following Q2 results.

The company, based in Warren, Ohio, said net operating revenues in the second quarter of 2018 were $16.7 million compared with $14.6 million in the second quarter of 2017.

The Company recorded net income attributable to Avalon Holdings Corporation common shareholders of $0.6 million in the second quarter of 2018 compared with net income attributable to Avalon Holdings Corporation common shareholders of $0.1 million in the second quarter of 2017.

For the second quarter of 2018, basic net income per share attributable to Avalon Holdings Corporation common shareholders was $0.16 compared with basic net income per share attributable to Avalon Holdings Corporation common shareholders of $0.03 in the second quarter of 2017.

For the first six months of 2018, net operating revenues were $28.2 million compared with $25.3 million for the first six months of 2017.

The Company incurred a net loss attributable to Avalon Holdings Corporation common shareholders of $0.2 million in the first six months of 2018 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $0.8 million in the first six months of 2017.

Avalon Holdings Corporation 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 Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated amenities, three golf courses and related country clubs and facilities.

Shares leaped $3.52, or 121.4%, to $6.42