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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) has acquired Cultec, Inc., a family-owned leader in stormwater and septic solutions. Founded in 1986, Cultec enhances ADS's product portfolio, allowing the company to meet increasing customer demands. The acquisition is strategic, aimed at leveraging complementary technologies and shared values in water conservation. ADS boasts a strong market presence with 60 manufacturing plants and aims to expand its capabilities through this acquisition.
Advanced Drainage Systems, Inc. (NYSE: WMS) will host an Investor Day on March 10, 2022, in New York City, with a virtual attendance option. The event will feature insights on business performance, strategy, and medium-term targets, along with overviews of Infiltrator Water Technologies and ESG initiatives. The presentation begins at 8:30 a.m. ET, with a live webcast available on the company's investor relations site. Interested attendees can request in-person invitations via email.
Advanced Drainage Systems (NYSE: WMS) announced a quarterly cash dividend of $0.11 per share, marking a 22% increase from last year. The Board also approved a new $1 billion stock repurchase program, aimed at enhancing shareholder value. CEO Scott Barbour emphasized the company's strong cash generation and balance sheet, enabling them to return capital to shareholders while pursuing growth opportunities. The cash dividend will be paid on March 15, 2022, to shareholders of record as of March 1, 2022.
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.
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