American Vanguard Corporation (NYSE:AVD) Q1 2024 Earnings Call Transcript

Eric Wintemute: Well, I think we’re up a little over 14% so far this year. As we mentioned last year, we were hit with two supply issues that really hurt us. One was our biggest insecticide and the second was the supply of Dacthal that we mentioned. So we’ve improved the sourcing or the sourcing on both of those. We have ample material of Aztec going forward. And so that was really a hit to fourth quarter of ’22 and certainly to the ’23 and we were unable to meet demand. Supply-wise, we’re in a different position and we’re back to moving Aztec and now Index and Force and SmartChoice back up into the corn market. So I guess — I mean, I look at what — where our peers have been discussing. They forecasted downsides in Q1 and that turned out to be the case. We did have improvements in Q1. And so yes, we’ve made the forecast based upon the best that we can see at this point.

Operator: [Operator Instructions] Ladies and gentlemen, it appears we have no additional questions at this time. So I’d like to turn the floor back over to Mr. Wintemute for any additional closing remarks.

Eric Wintemute: Okay. So thank you for — all for listening in today. Slide updates as we have them, but I guess the next scheduled time would be our shareholders’ meeting, which I believe is June 6 or 7. 6, yes. Okay. Thank you and have a good evening. Bye.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. We thank you for your participation and you may disconnect your lines at this time.