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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.
Advanced Drainage Systems (NYSE: WMS) announced a groundbreaking $30 million expansion of its recycling facility in Cordele, Georgia. The expansion will increase the facility's total size to 117,000 square feet and create up to 50 new jobs.
The enhanced facility will feature advanced plastic handling and processing capabilities, an onsite laboratory for streamlined testing, and will supply high-quality recycled plastic material to nearby ADS manufacturing sites. As one of North America's largest plastic recycling companies, ADS converts post-industrial and post-consumer recycled plastics into durable products like pipe and chambers.
The development was supported by the Cordele-Crisp County Industrial Development Council, Crisp County Commissioners, and the Georgia Department of Economic Development, with the Crisp County Power Commission providing transformer installation support.
Advanced Drainage Systems (NYSE: WMS) has released its 2024 stormwater management survey results, conducted by The Harris Poll. The study reveals increasing concerns about stormwater infrastructure, with 60% of Americans worried about their community's stormwater management, up from 51% last year.
Key findings show that 64% of Americans report negative stormwater impacts in their communities, with 12% citing major negative effects. Among those affected, 64% experience flooded streets, and 45% report damage to homes and businesses. Additionally, 52% of Americans worry about flooding around their homes.
The survey comes amid significant weather events in 2024, including 24 confirmed weather-related disasters exceeding $1 billion in losses and 92 flash flood emergencies. In response, ADS has unveiled the world's largest stormwater engineering facility in Hilliard, Ohio, focusing on developing advanced stormwater solutions using recycled plastics and innovative technologies.
Advanced Drainage Systems (NYSE: WMS) has scheduled the release of its fiscal third quarter 2025 financial results for February 6, 2025, before market opening. The company's 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.
ADS is a leading manufacturer of stormwater and onsite septic wastewater management solutions, operating approximately 70 manufacturing plants and 40 distribution centers. The company, along with its subsidiary Infiltrator Water Technologies, serves various markets including commercial, residential, infrastructure, and agriculture. As one of North America's largest plastic recycling companies, ADS keeps over half a billion pounds of plastic out of landfills annually.
Advanced Drainage Systems (NYSE: WMS) Foundation announced a $5 million deposit into Adelphi Bank, a Black-owned financial institution established in January 2023. Adelphi Bank, the first Black-owned bank established in the US since 2000, is one of only 23 Black-owned banks nationwide and the only one in Ohio. Located in the King-Lincoln Bronzeville community, the bank focuses on uplifting central Ohio's communities of color through financial access. The funds will be reinvested in the community through loans, financial services, and support for small businesses, particularly minority- and women-owned enterprises.
Advanced Drainage Systems (NYSE: WMS) announced a $30,000 donation through the ADS Foundation to support Hurricane Helene and Milton relief efforts. The funds will be equally split between the North Carolina Disaster Relief Fund and Florida Disaster Fund. Both states were severely impacted by Hurricane Helene (category 4) and Hurricane Milton (category 3), with Florida experiencing its worst hurricane impact in 103 years. Infiltrator Water Technologies, an ADS subsidiary, is providing products to affected areas, while two ADS manufacturing facilities are delivering supplies to North Carolina.
Advanced Drainage Systems (NYSE: WMS) has announced a quarterly cash dividend of $0.16 per share, representing a 14% increase over the prior year. The dividend will be paid on December 16, 2024, to shareholders of record as of December 2, 2024. CEO Scott Barbour attributes this decision to the company's strong balance sheet, robust cash generation, and commitment to shareholder returns. ADS, a leading manufacturer of stormwater and septic wastewater solutions, operates approximately 70 manufacturing plants and 40 distribution centers, while maintaining North America's largest plastic recycling operation.
Advanced Drainage Systems (NYSE: WMS) reported flat Q2 FY2025 net sales of $782.6 million, with net income decreasing 4.3% to $131.2 million. Net income per diluted share fell 2.3% to $1.67. Year-to-date results showed a 2.5% increase in net sales to $1.6 billion, while net income decreased 5.6% to $293.5 million.
The company maintained a robust Adjusted EBITDA margin of 31.4% despite facing headwinds in the non-residential market and weather-related disruptions. The company highlighted strong demand in Infiltrator and ADS residential and infrastructure markets, while announcing the acquisition of Orenco Systems to expand in the advanced wastewater treatment space.
Advanced Drainage Systems (NYSE: WMS) celebrated the opening of its $65 million Engineering and Technology Center in Hilliard, Ohio. The 110,000-square-foot facility is the world's largest stormwater engineering center, featuring a product development lab, a 90,000-gallon water testing system, hydraulics lab, and advanced technology lab. The center will create 200 new jobs and focus on developing stormwater solutions, materials science, and manufacturing technologies. As one of North America's largest recycling companies, ADS recycled 540 million pounds of plastic last year, equivalent to nearly 5 billion plastic bottles.
Advanced Drainage Systems (NYSE: WMS) has announced it will release its unaudited financial results for the fiscal second quarter ended September 30, 2024, before the market opens on November 8, 2024. President and 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.
Interested parties can access the webcast through the Investor Relations section of the company's website. To participate in the live teleconference, registration is required. ADS is a leading manufacturer of stormwater and onsite septic wastewater solutions, with 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.
Advanced Drainage Systems (NYSE: WMS) has partnered with Geoplast to distribute Aquabox, a modular stormwater retention/detention system, in the United States. This strategic alliance expands ADS's stormwater management product portfolio. Aquabox is designed for flexible underground storage, offering solutions for stormwater retention, infiltration, disposal, and harvesting for reuse.
The system's open cellular design allows for free distribution of stormwater runoff between modules, helping to reduce potential flooding in urban areas. With its high mechanical resistance, Aquabox is suitable for dense urban applications. This partnership aligns with both companies' commitment to innovative, sustainable water management solutions and resilient infrastructure.