Avalon Holdings Corp-A 2026年季度报告

FORM 10-Q ☒Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2026 ☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934for the transition period from _______________ to ________________ Commission file number 1-14105 AVALON HOLDINGS CORPORATION(Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code:(330) 856-8800 Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s) Indicate by a check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). Yes☑No☐ Indicate by a check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smallerreporting company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer☐Accelerated filer☐Non-accelerated filer☑Smaller reportingcompany☑Emerging GrowthCompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☑ The registrant had 3,287,647 shares of its Class A Common Stock and 611,784 shares of its Class B Common Stock outstanding asof May 5, 2026. AVALON HOLDINGS CORPORATION AND SUBSIDIARIES INDEXPagePART I. FINANCIAL INFORMATIONItem 1.Financial StatementsCondensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (Unaudited)1Condensed Consolidated Balance Sheets at March 31, 2026 and December 31, 2025 (Unaudited)2Condensed Consolidated Statements of Shareholders’Equity for the Three Months Ended March 31, 2026 and 2025(Unaudited)3Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)4Notes to Unaudited Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 3.Quantitative and Qualitative Disclosures about Market Risk32Item 4.Controls and Procedures32PART II. OTHER INFORMATIONItem 1.Legal Proceedings33Item 2.Changes in Securities and Use of Proceeds33Item 3.Defaults upon Senior Securities33Item 4.Mine Safety Disclosures33Item 5.Other Information33Item 6.Exhibits and Reports on Form 8-K33SIGNATURE34i PART I. FINANCIAL INFORMATION AVALON HOLDINGS CORPORATION AND SUBSIDIARIESCondensed Consolidated Statements of Operations (Unaudited)(in thousands, except per share amounts) (in thousands, except for share data) AVALON HOLDINGS CORPORATION AND SUBSIDIARIESNotes to Unaudited Condensed Consolidated Financial StatementsMarch 31, 2026 Note 1. Description of Business Avalon Holdings Corporation (“Avalon” or the “Company”) was formed on April 30, 1998 as a subsidiary of American WasteServices, Inc. (“AWS”). On June 17, 1998, AWS distributed, as a special dividend, all of the outstanding shares of capital stock ofAvalon to the holders of AWS common stock on a pro rata and corresponding basis. Avalon provides waste management services to industrial, commercial, municipal and governmental customers in selectednortheastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalonalso owns and operates a hotel and its associated resort amenities, four golf courses and related country clubs and a multipurposerecreation center. Note 2. Basis of Presentation The unaudited condensed consolidated financial statements of Avalon and related notes included herein have been prepared inaccordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information andfootnote disclosures normally included in financial statements prepared in accordance with generally accepted accountingprinciples have been omitted consistent with such rules and regulations. The accompanying unaudited condensed consolidatedfinancial statements and related notes should be read in conjunction with the consolidated financial statements and related notesinc