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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.
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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