ADVANCED DRAINAGE SYSTEMS, INC. - WMS STOCK NEWS

Core & Main (NYSE: CNM) announced significant changes to its executive leadership team. Jack Schaller steps down as president to become executive vice president, focusing on integrating newly acquired businesses and supplier relations. Schaller expressed confidence in this planned transition, emphasizing his commitment to ongoing success.

Brad Cowles, previously leading the fire protection product line, will now oversee the waterworks product line, in addition to several growth and margin initiatives. Cowles has over 18 years of leadership experience within Core & Main.

Mike Huebert is set to join the company on July 22, 2024, as president of the fire protection product line and other high-growth areas. Huebert brings extensive experience from Advanced Drainage Systems, where he oversaw field sales, engineering, national accounts, and retail sales teams.

CEO Steve LeClair believes these changes strategically align the company for profitable growth and increased shareholder value.

Advanced Drainage Systems (NYSE: WMS) announced a 14% increase in its annual cash dividend to $0.64 per share. This decision, backed by strong financial performance and cash generation, reflects ADS' commitment to returning capital to shareholders. In Fiscal 2024, the company returned $251.3 million through dividends and share buybacks. The quarterly cash dividend of $0.16 per share will be paid on June 14, 2024, to shareholders of record as of May 31, 2024.

ADS, a leading provider of water management solutions, operates around 70 manufacturing plants and 40 distribution centers, and is a significant player in plastic recycling. The company focuses on commercial, residential, infrastructure, and agricultural markets.

Advanced Drainage Systems (NYSE: WMS) reported its Q4 and FY 2024 results. For Q4, net sales increased 5.9% to $653.8 million, net income rose 10.6% to $95.5 million, and diluted EPS climbed 14.5% to $1.21. Adjusted EBITDA grew 11.2% to $191.2 million.

For FY 2024, net sales decreased 6.4% to $2,874.5 million, net income rose 0.4% to $513.3 million, and diluted EPS increased 6.1% to $6.45. Adjusted EBITDA increased 2.1% to $922.9 million. Cash from operating activities increased by $10.1 million to $717.9 million, while free cash flow decreased by $6.8 million to $534.1 million.

Despite weaker demand in the first half, the company achieved a record Adjusted EBITDA margin of 32.1%. ADS expects favorable demand and volume growth in FY 2025, with net sales projected to be between $2.925 billion and $3.025 billion and Adjusted EBITDA between $940 million and $980 million.

Advanced Drainage Systems, Inc. (NYSE: WMS) will announce its unaudited financial results for the fiscal fourth quarter and year ended March 31, 2024, on May 16, 2024. President and CEO, Scott Barbour, and CFO, Scott Cottrill, will host a conference call and webcast to discuss the results.

Advanced Drainage Systems, Inc. (NYSE: WMS) emphasizes the need for effective stormwater management on World Water Day. The company highlights the increasing cost of stormwater-related disasters in the US and advocates for resilient communities through proper stormwater infrastructure. ADS President and CEO, Scott Barbour, stresses the importance of managing stormwater throughout its lifecycle. ADS released a video showcasing the impact of efficient stormwater solutions, reflecting their commitment to water management.

Advanced Drainage Systems, Inc. (NYSE: WMS) has been named to Newsweek’s list of America’s Most Responsible Companies 2024 for the second consecutive year, highlighting its dedication to environmental, social, and corporate governance efforts. ADS President and CEO, Scott Barbour, expressed gratitude for the recognition, emphasizing the company's commitment to water management and environmental protection. The award, presented by Newsweek and Statista Inc., recognizes the top 600 responsible companies in the US across 14 industries, based on ESG criteria.

Advanced Drainage Systems, Inc. (NYSE: WMS) has announced a 17% increase in its quarterly cash dividend to $0.14 per share. The company's President and CEO, Scott Barbour, attributes this to the strength of their balance sheet and cash generation, indicating confidence in their financial performance and operational excellence. The dividend will be paid on March 15, 2024.

Advanced Drainage Systems, Inc. (WMS) announced financial results for the fiscal third quarter ended December 31, 2023. Net sales increased 1.1% to $662.4 million, net income increased 28.5% to $106.9 million, and adjusted EBITDA increased 20.3% to $204.2 million. However, year-to-date fiscal 2024 results showed a decrease in net sales by 9.5% to $2,220.6 million. The company's outlook for fiscal 2024 includes net sales in the range of $2.800 billion to $2.850 billion and adjusted EBITDA in the range of $880 to $910 million.

Advanced Drainage Systems, Inc. (ADS) donates $1 million to the University of Minnesota Duluth’s Advanced Materials Center to support the education of future scientists and engineers and further research on the repurposing of plastic waste. The funding will provide scholarships and research funding for UMD’s graduate students in Applied Materials Science and Engineering, supporting the education of future scientists and engineers, and further research on the repurposing of plastic waste. The $1 million gift will span four years and annually deliver $65,000 in scholarships, $125,000 in research funding, as well as provide $60,000 into an endowment, which by the end of the lifecycle of the gift, will fund an additional $10,000 a year in scholarships, in perpetuity.