Advanced Drain Sys Inc Del Stock Price, News & Analysis

For the fiscal first quarter ended June 30, 2022, Advanced Drainage Systems (WMS) reported net sales growth of 36.6%, reaching $914.2 million, and a 144.4% increase in net income to $188.5 million. Adjusted EBITDA rose by 79.5% to $299.0 million. The growth was driven by favorable pricing and volume in construction end markets, despite inflationary pressures. The company has raised its fiscal 2023 revenue and EBITDA guidance, expecting net sales between $3.250 billion and $3.350 billion.

Advanced Drainage Systems (WMS) hosted U.S. Congressman Larry Bucshon at its Brazil, Indiana plant to discuss the company's role in infrastructure and recycling initiatives. With $2.8 billion in net sales for FY 2022, ADS operates around 70 plants and employs 75 at the Brazil facility. The company is investing $2.5 million in the plant over 2022-2023 to enhance operations and is the largest plastic recycler in North America, processing over 600 million pounds of plastic annually. More than 50% of the plastic purchased in 2021 was recycled, underscoring ADS's commitment to sustainability.

Advanced Drainage Systems (NYSE: WMS) has elected Kelly Gast to its Board of Directors during the Annual Meeting of Stockholders. With extensive financial experience gained from her leadership roles at Bayer, Gast is expected to enhance the Board's capabilities. Previously, she served as CFO of Bayer's Crop Science division and held various senior financial positions since joining the company in 1995. Gast holds a B.A. in Economics from the University of Illinois at Champaign-Urbana, making her a valuable addition to ADS.

Advanced Drainage Systems (NYSE: WMS) will release its fiscal Q1 2023 unaudited financial results on August 4, 2022, before the market opens. The conference call will be hosted by President Scott Barbour and CFO Scott Cottrill at 10:00 a.m. ET on the same day, where they will discuss the results. Investors can access the call via the company's Investor Relations website or participate by registering for the teleconference.

Advanced Drainage Systems (NYSE: WMS) has announced a private offering of $500 million in senior unsecured notes due 2030 with a 6.375% interest rate. The offering is set to close on June 9, 2022, pending standard conditions. Proceeds will be used to repay outstanding borrowings under the company’s senior secured revolving credit facility, with any remaining funds allocated for general corporate purposes. The notes will not be registered under the Securities Act and can only be offered to qualified institutional buyers.

Advanced Drainage Systems, Inc. (NYSE: WMS) announced plans to offer up to $500 million in senior unsecured notes due 2030. The offering, which will be exempt from Securities Act registration, aims to repay outstanding borrowings under its senior secured revolving credit facility and for general corporate purposes. The notes will be guaranteed by its domestic subsidiaries, and they may only be sold to qualified institutional buyers. This strategic move highlights the company's effort to manage its debt efficiently while ensuring liquidity.

Advanced Drainage Systems (NYSE: WMS) has announced a quarterly cash dividend of $0.12 per share, marking a 9% increase from last year. The dividend is set to be paid on June 15, 2022, to shareholders on record as of June 1, 2022. President and CEO Scott Barbour stated that this increase reflects the company's strong balance sheet and cash generation, showcasing their commitment to returning capital to shareholders while continuing investments in the business.