American Vanguard Shares Fall After Revenue Outlook Cut
NYSE-Listed Specialty Chemicals Company Announces Lower Expectations
Shares of American Vanguard (AVD) declined on Friday after the company lowered its full-year revenue outlook.
American Vanguard, a specialty chemicals company listed on the New York Stock Exchange, announced its revised revenue guidance in a statement released on Friday. The company cited lower demand from key end markets as the primary reason for the adjustment.
The company previously projected full-year revenue in the range of $1.20 billion to $1.25 billion. However, the revised guidance now places the expectation within a range of $1.15 billion to $1.18 billion.
Investors reacted negatively to the news, with AVD shares falling by approximately 5% in pre-market trading. The stock continued to decline throughout the trading session, closing the day at $31.95, a decrease of over 4% from its previous close.
Analysts attributed the decline in stock price to concerns among investors about the company's ability to generate revenue in a challenging economic environment.
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