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News about Advanced Drainage Systems, Inc. (NYSE: WMS) centers on its role as a manufacturer of stormwater and onsite wastewater management products and solutions. Company press releases describe Advanced Drainage Systems as a provider of water management solutions for commercial, residential, infrastructure and agricultural applications, with a focus on stormwater and onsite septic wastewater.
Investors following WMS news will see regular updates on financial results, including quarterly earnings for its fiscal year. The company issues press releases and related Form 8-K filings when it reports unaudited results for periods such as the fiscal first and second quarters, along with commentary on net sales, net income, Adjusted EBITDA and performance by business area, including pipe, Infiltrator, Allied products and international operations.
News coverage also includes capital allocation announcements such as quarterly cash dividends approved by the Board of Directors. These releases describe the dividend amount per share, record dates and payment dates, and often reference the company’s balance sheet, cash generation and approach to returning capital to shareholders while investing in the business.
Another key category of news involves strategic transactions and acquisitions. For example, Advanced Drainage Systems has announced a definitive stock purchase agreement to acquire the water management business of Norma Group SE known as National Diversified Sales (NDS), subject to regulatory approvals and closing conditions. Earnings releases also mention acquisitions such as Orenco Systems, Inc. and River Valley Pipe as contributors to growth in Infiltrator and Allied products.
Beyond financial and transaction updates, news items may highlight foundation and conservation initiatives. The ADS Foundation, funded primarily by Advanced Drainage Systems, issues announcements about collaborations and donations related to water, recycling, education, mental health and housing, including partnerships with organizations such as The Nature Conservancy’s Brightstorm program and regional community foundations.
For readers tracking WMS, this news stream provides insight into the company’s operating performance, dividend decisions, acquisition activity and its involvement in water-related community and conservation efforts.
Advanced Drainage Systems (ADS) (NYSE: WMS) has released its Fiscal 2024 Sustainability Report, highlighting its commitment to environmental stewardship and water management. Key achievements include:
- Recycling 540 million pounds of plastic, making ADS one of North America's largest plastic recyclers
- Submitting targets to the Science Based Targets Initiative for approval, including a 50% reduction in Scope 1 and 2 emissions and a 30% reduction in Scope 3 emissions from the Fiscal 2022 baseline
- Implementing a supplier code of conduct and signing the UN Global Compact
- Contributing $2 million to charitable organizations
- Improving safety performance with a 19% reduction in Total Recordable Incident Rate
ADS aims to reach one billion pounds of recycled plastic purchased annually by Fiscal 2032, nearly doubling their current usage.
Advanced Drainage Systems (NYSE: WMS) has announced it will release its unaudited financial results for the fiscal first quarter ended June 30, 2024, before the market opens on August 8, 2024. President and CEO Scott Barbour and CFO Scott Cottrill will host a conference call and webcast at 10:00 a.m. ET on the same day to discuss the results.
Investors can access the webcast through the company's Investor Relations website. For teleconference participation, registration is required. ADS, a leading manufacturer of stormwater and onsite septic wastewater solutions, manages a vast network of approximately 70 manufacturing plants and 40 distribution centers. The company is also one of North America's largest plastic recycling companies, keeping over half a billion pounds of plastic out of landfills annually.
Core & Main (NYSE: CNM) announced significant changes to its executive leadership team. Jack Schaller steps down as president to become executive vice president, focusing on integrating newly acquired businesses and supplier relations. Schaller expressed confidence in this planned transition, emphasizing his commitment to ongoing success.
Brad Cowles, previously leading the fire protection product line, will now oversee the waterworks product line, in addition to several growth and margin initiatives. Cowles has over 18 years of leadership experience within Core & Main.
Mike Huebert is set to join the company on July 22, 2024, as president of the fire protection product line and other high-growth areas. Huebert brings extensive experience from Advanced Drainage Systems, where he oversaw field sales, engineering, national accounts, and retail sales teams.
CEO Steve LeClair believes these changes strategically align the company for profitable growth and increased shareholder value.
Advanced Drainage Systems (NYSE: WMS) announced a 14% increase in its annual cash dividend to $0.64 per share. This decision, backed by strong financial performance and cash generation, reflects ADS' commitment to returning capital to shareholders. In Fiscal 2024, the company returned $251.3 million through dividends and share buybacks. The quarterly cash dividend of $0.16 per share will be paid on June 14, 2024, to shareholders of record as of May 31, 2024.
ADS, a leading provider of water management solutions, operates around 70 manufacturing plants and 40 distribution centers, and is a significant player in plastic recycling. The company focuses on commercial, residential, infrastructure, and agricultural markets.
Advanced Drainage Systems (NYSE: WMS) reported its Q4 and FY 2024 results. For Q4, net sales increased 5.9% to $653.8 million, net income rose 10.6% to $95.5 million, and diluted EPS climbed 14.5% to $1.21. Adjusted EBITDA grew 11.2% to $191.2 million.
For FY 2024, net sales decreased 6.4% to $2,874.5 million, net income rose 0.4% to $513.3 million, and diluted EPS increased 6.1% to $6.45. Adjusted EBITDA increased 2.1% to $922.9 million. Cash from operating activities increased by $10.1 million to $717.9 million, while free cash flow decreased by $6.8 million to $534.1 million.
Despite weaker demand in the first half, the company achieved a record Adjusted EBITDA margin of 32.1%. ADS expects favorable demand and volume growth in FY 2025, with net sales projected to be between $2.925 billion and $3.025 billion and Adjusted EBITDA between $940 million and $980 million.
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