Avalon Holdings (AWX) risk factors, FY2024 10-K

Avalon Holdings's FY2024 10-K, filed Mar 20, 2025, lists 17 risk factors. There is no earlier 10-K to compare against, so the most company-specific risks are listed below.

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Risk factors listed
170 groups
Section length
5k wordsItem 1A

Avalon Holdings's biggest risks in the FY2024 10-K

  • Dual-class voting structure secures management control and anti-takeover provisions protect against unwanted acquisitions.
  • Operations depend heavily on out-of-state waste brokerage and single-customer captive landfill management.
  • Golf and hospitality operations rely on annual memberships, liquor licenses, and variable commodity costs.

The risks most specific to Avalon Holdings

  • Voting control by management

    Management maintains voting control through Class B common stock, which carries ten votes per share compared to one vote for Class A stock.

  • A portion of Avalon’s waste brokerage and management services revenues is derived from the disposal and/or transportation of out-of-state waste. Any law or regulation restricting or impeding the transportation of waste or the acceptance of out-of-state waste for disposal could have a negative effect on Avalon

    Waste brokerage revenues depend on out-of-state waste transportation, making the business vulnerable to new restrictive laws or regulations.

  • A majority of Avalon’s business is not subject to long-term contracts

    Most waste brokerage and management services are not secured by long-term contracts, risking sudden revenue drops if customers leave.

  • Avalon’s captive landfill management business is dependent upon a single customer as its sole source of revenue. If the captive landfill management business is unable to retain this customer, Avalon’s future financial performance could be adversely impacted

    The captive landfill management business relies entirely on a single customer as its sole source of revenue.

  • Golf memberships and liquor licenses

    Golf and hospitality operations depend entirely on annual membership renewals for the Avalon Golf and Country Club and retention of liquor licenses for The Grand Resort.

  • Avalon may be subject to liability for environmental contamination caused by pollutants, the transportation, treatment or disposal of which was arranged for by Avalon or one of its predecessors

    Waste brokerage and management services expose Avalon to potential substantial liabilities for environmental contamination and pollutants.

  • On September 14, 2017, an appeal hearing was held in the Ohio 10th District Court of Appeals and on July 31, 2018 a decision was issued on the appeal. The decision reinstated the previous Ohio Oil and Gas Commission decision in this matter

    Past adverse rulings from the Supreme Court of Ohio regarding the Division of Oil and Gas Resources Management create ongoing regulatory and legal uncertainty.

All 17 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01Voting control by management
  2. 02Certain anti-takeover provisions of Articles of Incorporation, Code of Regulations and Ohio Law
  3. 03Avalon’s market for shares may be subject to greater volatility and limited daily activity
  4. 04A portion of Avalon’s waste brokerage and management services revenues is derived from the disposal and/or transportation of out-of-state waste. Any law or regulation restricting or impeding the transportation of waste or the acceptance of out-of-state waste for disposal could have a negative effect on Avalon
  5. 05Unfavorable general economic conditions could adversely affect our business and financial results
  6. 06Challenges with respect to labor, including availability and cost, could impact our business and results of operations
  7. 07Changes in commodity and other operating costs could adversely affect our results of operations
  8. 08Effective succession planning is important to our continued success
  9. 09A majority of Avalon’s business is not subject to long-term contracts
  10. 10Avalon’s captive landfill management business is dependent upon a single customer as its sole source of revenue. If the captive landfill management business is unable to retain this customer, Avalon’s future financial performance could be adversely impacted
  11. 11Avalon's loan and security agreement may obligate it to repay debt before its maturity
  12. 12Golf memberships and liquor licenses
  13. 13Avalon may be subject to liability for environmental contamination caused by pollutants, the transportation, treatment or disposal of which was arranged for by Avalon or one of its predecessors
  14. 14On September 14, 2017, an appeal hearing was held in the Ohio 10th District Court of Appeals and on July 31, 2018 a decision was issued on the appeal. The decision reinstated the previous Ohio Oil and Gas Commission decision in this matter
  15. 15Changes in laws, regulations and accounting standards
  16. 16Accounting estimates and judgments
  17. 17Long-lived asset impairment

Other Avalon Holdings 10-Ks

  • FY2025 10-K risk factors
    16 risks1 dropped2 reworded

    Avalon Holdings Corp dropped its out-of-state waste regulatory risk.

    Filed Mar 19, 2026

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.