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Advanced Drainage Systems, Inc. reports news on stormwater and onsite wastewater management products for commercial, residential, infrastructure and agricultural applications. Company updates commonly cover quarterly operating results, investor presentations, dividend declarations, stock repurchase authorizations and capital allocation.
Recurring developments also include product and portfolio expansion across water management, including ADS pipe products, Infiltrator septic systems and the completed addition of National Diversified Sales residential water management, access box and irrigation solutions. News may also cover partnerships and foundation activity tied to stormwater innovation, watershed management and water-quality initiatives.
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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.
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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.