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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 (WMS) reported strong fiscal Q3 2022 results, with net sales soaring 47.1% to $715.4 million and net income rising 37.8% to $74.5 million. Year-to-date, net sales reached $2,091.1 million, up 35.9%, while adjusted EBITDA for the quarter was $176.2 million, marking a 26.9% increase. Despite overcoming inflationary pressures and labor shortages, the company remains optimistic about future growth, especially in key regions like Florida and Texas, and has raised its fiscal 2022 net sales outlook to between $2.675 billion and $2.725 billion.
Advanced Drainage Systems (NYSE: WMS) will release its unaudited financial results for the third fiscal quarter ended December 31, 2021, before the market opens on February 3, 2022. President Scott Barbour and CFO Scott Cottrill will discuss the results in a conference call at 10:00 a.m. ET on the same day. The call will be accessible via the Company's Investor Relations website, where participants can also register for the event.
Advanced Drainage Systems (NYSE: WMS) has launched the Nyloplast 12-inch universal inline drain solution, designed for easy installation in various commercial and multi-family projects. This product ensures a durable and water-tight connection, compatible with multiple grate designs. It features a 100-year service life, an H20 load rating, and promotes efficient drainage flow without the need for grout. The solution addresses market demands for reliability and ease of use, while also reducing stock-keeping units for distributors, enhancing project flexibility and efficiency.
Advanced Drainage Systems, Inc. (NYSE: WMS) has acquired Jet Polymer Recycling, a leading recycling firm based in the southeastern U.S. This strategic move aims to enhance ADS's recycling capabilities and support its commitment to environmental sustainability. Jet Polymer, the largest recycled polypropylene supplier for Infiltrator Water Technologies (also a subsidiary of ADS), operates three recycling locations in Alabama and Georgia. The acquisition is expected to secure high-quality recycled plastic for ADS's growing on-site septic wastewater business and expand its presence in key U.S. markets.
Advanced Drainage Systems (WMS) launched the EcoPure™ BioFilter, a stormwater management solution designed for urban environments. This innovative product addresses increased runoff from urbanization, aiming to improve water quality through low-impact development. Available in sizes up to 10x20 feet, it boasts superior flow rates of 60 gallons per minute and removes 85% of total suspended solids. EcoPure is approved by NJCAT-NJDEP and offers a lifespan projected to be twice that of competitors. The company supports installation with training for engineers and contractors, leveraging extensive municipal relationships.
Advanced Drainage Systems, Inc. (NYSE: WMS) announced a quarterly cash dividend of $0.11 per share, reflecting its commitment to shareholder return and confidence in its financial position. The dividend will be paid on December 15, 2021, to shareholders of record by December 1, 2021. CEO Scott Barbour emphasized that this action showcases the company's strength and ongoing investments in strategic initiatives amidst a challenging market landscape.
Advanced Drainage Systems reported a 29.8% increase in net sales for Q2 FY2022, totaling $706.5 million. However, net income fell 5.3% to $76.3 million, and adjusted EBITDA decreased 5.3% to $164.8 million. Year-to-date, net sales rose 30.7% to $1.375 billion, while net income increased 1.4% to $153.4 million. The company faces challenges from labor shortages impacting production but remains confident in future growth driven by strong demand and a record backlog.
Advanced Drainage Systems (NYSE: WMS) will release its unaudited financial results for Q2 fiscal year 2021, ending September 30, 2021, before market opening on November 4, 2021. CEO Scott Barbour and CFO Scott Cottrill will discuss these results during a conference call at 10:00 a.m. ET on the same day. The event can be accessed via the Company’s Investor Relations website. Advanced Drainage Systems specializes in stormwater and septic wastewater management solutions with a broad market reach, operating around 60 manufacturing plants globally.
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