Welcome to our dedicated page for ADVANCED DRAINAGE SYSTEMS news (Ticker: WMS), a resource for investors and traders seeking the latest updates and insights on ADVANCED DRAINAGE SYSTEMS stock.
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 (NYSE: WMS) has announced its unaudited financial results for the fiscal second quarter ending September 30, 2022, set to be released before the market opens on November 3, 2022. CEO Scott Barbour and CFO Scott Cottrill will host a conference call and webcast on the same day at 10:00 a.m. ET to discuss the results. The company, a leading manufacturer in stormwater and septic wastewater management products, emphasizes its commitment to sustainability through its plastic recycling initiatives, keeping over half a billion pounds of plastic from landfills annually.
Advanced Drainage Systems (WMS) hosted the National Academy of Sciences' Repurposing Plastic Waste in Infrastructure Committee on September 21, 2022, in Ohio. The committee aims to explore the use of recycled materials in infrastructure projects as mandated by the Save Our Seas Act of 2020. During the visit, ADS showcased its recycling facilities and highlighted its contribution as the largest plastic recycler in North America, recycling over 600 million pounds of plastic last year. ADS emphasized the importance of a circular recycling process for sustainable infrastructure development.
Advanced Drainage Systems (WMS) announced a $65 million investment in Hilliard, Ohio, to develop a state-of-the-art Engineering & Technology Center. This facility will span nearly 110,000 square feet and is expected to create 200 new jobs. The center will focus on advanced stormwater engineering, materials science, and manufacturing technologies, emphasizing sustainability through the use of recycled plastics. The groundbreaking is scheduled for October, with completion anticipated in late 2023. This investment aims to consolidate ADS's product development operations and enhance its capabilities as a leading plastic recycler.
Advanced Drainage Systems (NYSE: WMS) has announced a quarterly cash dividend of $0.12 per share, marking a 9% increase from the previous year. This dividend reflects the company's strong balance sheet and robust cash generation. The payment is scheduled for September 15, 2022, for shareholders on record by September 1, 2022. CEO Scott Barbour stated that this increase underscores their commitment to returning capital to shareholders while continuing strategic investments in the business.
For the fiscal first quarter ended June 30, 2022, Advanced Drainage Systems (WMS) reported net sales growth of 36.6%, reaching $914.2 million, and a 144.4% increase in net income to $188.5 million. Adjusted EBITDA rose by 79.5% to $299.0 million. The growth was driven by favorable pricing and volume in construction end markets, despite inflationary pressures. The company has raised its fiscal 2023 revenue and EBITDA guidance, expecting net sales between $3.250 billion and $3.350 billion.
Advanced Drainage Systems (WMS) hosted U.S. Congressman Larry Bucshon at its Brazil, Indiana plant to discuss the company's role in infrastructure and recycling initiatives. With $2.8 billion in net sales for FY 2022, ADS operates around 70 plants and employs 75 at the Brazil facility. The company is investing $2.5 million in the plant over 2022-2023 to enhance operations and is the largest plastic recycler in North America, processing over 600 million pounds of plastic annually. More than 50% of the plastic purchased in 2021 was recycled, underscoring ADS's commitment to sustainability.
Advanced Drainage Systems (NYSE: WMS) has elected Kelly Gast to its Board of Directors during the Annual Meeting of Stockholders. With extensive financial experience gained from her leadership roles at Bayer, Gast is expected to enhance the Board's capabilities. Previously, she served as CFO of Bayer's Crop Science division and held various senior financial positions since joining the company in 1995. Gast holds a B.A. in Economics from the University of Illinois at Champaign-Urbana, making her a valuable addition to ADS.
Advanced Drainage Systems (NYSE: WMS) will release its fiscal Q1 2023 unaudited financial results on August 4, 2022, before the market opens. The conference call will be hosted by President Scott Barbour and CFO Scott Cottrill at 10:00 a.m. ET on the same day, where they will discuss the results. Investors can access the call via the company's Investor Relations website or participate by registering for the teleconference.
Advanced Drainage Systems (NYSE: WMS) has announced a private offering of $500 million in senior unsecured notes due 2030 with a 6.375% interest rate. The offering is set to close on June 9, 2022, pending standard conditions. Proceeds will be used to repay outstanding borrowings under the company’s senior secured revolving credit facility, with any remaining funds allocated for general corporate purposes. The notes will not be registered under the Securities Act and can only be offered to qualified institutional buyers.
FAQ
What is the current stock price of ADVANCED DRAINAGE SYSTEMS (WMS)?
What is the market cap of ADVANCED DRAINAGE SYSTEMS (WMS)?
What does Advanced Drainage Systems, Inc. specialize in?
When was Advanced Drainage Systems, Inc. founded?
Where is the headquarters of Advanced Drainage Systems, Inc. located?
When did Advanced Drainage Systems, Inc. become a public company?
How many employees does Advanced Drainage Systems, Inc. have?
What are the main business segments of ADS?
Which segment generates the most revenue for ADS?
What industries does ADS serve?
How many manufacturing plants and distribution centers does ADS operate?
What are some recent achievements of ADS?
