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Advanced Drainage Systems, Inc. (ADS), headquartered in Hilliard, Ohio, is a leading manufacturer specializing in high-performance thermoplastic corrugated pipe and comprehensive water management products. Established in 1966, ADS provides innovative drainage solutions that cater to a diverse range of markets, including residential, non-residential, agricultural, and infrastructure applications.
ADS has built a strong market presence by leveraging its extensive national sales and distribution network, diverse product range, and manufacturing excellence. With a global workforce of 3,700 employees, the company operates 57 manufacturing plants and 33 distribution centers, ensuring efficient production and distribution.
ADS became a publicly traded company on the NYSE® in July 2014, under the symbol WMS. The company's core business segments include Pipe, Infiltrator, International, and Allied Products and Other, with the Pipe segment generating the most revenue. ADS serves a wide array of industries such as agriculture, aviation, military, mining, residential, transportation, and healthcare.
Some recent achievements of ADS include strategic partnerships and continuous innovation in product development. The company is committed to sustainable growth and continually seeks to enhance its product offerings and operational capabilities. ADS's products are known for their quality and reliability, making them a preferred choice for effective water management solutions worldwide.
Advanced Drainage Systems, Inc. (NYSE: WMS) announced it will release its unaudited financial results for the fiscal fourth quarter and year ended March 31, 2023 on May 18, 2023, before market opening. CEO Scott Barbour and CFO Scott Cottrill will host a conference call on the same day at 10:00 a.m. ET to discuss the results. The company, a leader in stormwater and septic wastewater management, operates about 70 manufacturing plants and 40 distribution centers in North America, and is the largest plastic recycling company in the region, preventing over 500 million pounds of plastic from entering landfills annually. Investors can participate via webcast or teleconference.
Advanced Drainage Systems (NYSE: WMS) has announced a $0.12 quarterly cash dividend per share, marking a 9% increase from the previous year. This decision reflects the company’s strong balance sheet and cash generation capabilities. The dividend will be paid on March 15, 2023, to shareholders recorded by March 1, 2023. CEO Scott Barbour stated the increase demonstrates a commitment to returning capital to shareholders while maintaining investments in the business. Advanced Drainage Systems continues to lead in innovative water management solutions across various sectors.
Advanced Drainage Systems, Inc. (WMS) reported its fiscal Q3 2023 financial results, revealing a 8.4% decline in net sales to $655.2 million due to weak demand in December. However, net income increased 11.7% to $83.2 million, highlighting effective cost management and pricing strategies. Year-to-date, net sales rose 17.3% to $2.45 billion, with significant increases in gross profit and adjusted EBITDA. The company anticipates continued challenges in the construction market, adjusting fiscal 2023 sales guidance to $2.975-$3.050 billion and adjusted EBITDA to $850-$890 million.
Advanced Drainage Systems (WMS) announced a $3 million donation from the ADS Foundation to create the Advanced Drainage Systems Behavioral Health Professional Development Fund at Nationwide Children's Hospital. This fund aims to address the shortage of pediatric behavioral health professionals by providing scholarships and expanding internship programs for employees at the hospital. The initiative is part of ADS's broader commitment to enhance community well-being and support the development of professionals in behavioral health. The funds will assist in training psychiatric nurses, therapists, and mental health specialists.
Advanced Drainage Systems, Inc. (NYSE: WMS) announced the retirement of Executive Vice President Roy Moore, effective May 31, 2023. Craig Taylor, currently serving as Vice President of Finance at Infiltrator Water Technologies, will succeed Moore as part of the company's succession plan. Moore has contributed over 35 years to Infiltrator and played a significant role in its growth. Craig Taylor, who joined ADS in February 2020, has extensive experience in finance, including managing a $3 billion division at Stanley Black and Decker. The transition aims to ensure continued leadership stability as ADS focuses on innovative water management solutions.
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