Every 8-K that ADVANCED DRAINAGE SYSTEMS, INC. (WMS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow WMS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WMS filings page.
Advanced Drainage Systems reported fiscal first‑quarter 2027 results that management described as a strong start, with net sales up 20.6% to $1.0 billion and net income from continuing operations up 22.5% to $176.6 million. Diluted EPS from continuing operations rose 22.8% to $2.26.
Growth was led by Stormwater, where sales rose 24.2% to $809.4 million, including $94.7 million from the acquisition of NDS; organic stormwater sales increased 9.7%. Wastewater sales increased 7.5% to $191.7 million. Adjusted EBITDA grew 28.8% to $358.3 million, expanding margin to 35.8% from 33.5%.
Operating cash flow was $260.4 million and free cash flow $203.2 million, with net debt of $1.60 billion and a leverage ratio of 1.5x Adjusted EBITDA. The company repurchased 1.6 million shares for $228.5 million and announced an 11% higher quarterly dividend of $0.20 per share. Full‑year fiscal 2027 guidance was reaffirmed for net sales of $3.35–$3.55 billion and Adjusted EBITDA of $1.0–$1.05 billion.
Advanced Drainage Systems, Inc. held its 2026 Annual Meeting of Stockholders via webcast on July 16, 2026. Stockholders elected nine directors to one-year terms ending at the 2027 annual meeting.
Stockholders also ratified Deloitte & Touche LLP as independent registered public accounting firm for fiscal 2027 with 62,686,364 votes for and 6,631,324 against. In an advisory say-on-pay vote, executive compensation as disclosed in the proxy statement received 61,978,434 votes for, 5,183,274 against and 449,999 abstentions, with 1,838,060 broker non-votes.
Advanced Drainage Systems, Inc. used its Investor Day to highlight its position as a pure-play water infrastructure company and to lay out a Fiscal 2030 vision. For Fiscal 2026, the company reported net sales of $3.05 billion, up 5% year over year, and Adjusted EBITDA of $963 million, a 31.6% margin and up 8% year over year. Stormwater represented 78% of sales and wastewater 22%, with Fiscal 2026 Adjusted EBITDA margins of 28.9% in stormwater and 43.6% in wastewater. Management’s Fiscal 2030 vision targets revenue of more than $4 billion, organic growth above 8%, Adjusted EBITDA margin above 30%, and operating cash flow exceeding 70% of Adjusted EBITDA. The company cited a robust balance sheet with $950 million of liquidity, leverage of 1.6x and about $5 billion of capital available for acquisitions and share repurchases under a disciplined capital allocation framework.
Advanced Drainage Systems, Inc. has realigned its reporting structure and provided unaudited recast historical segment financial information. Following the acquisition of National Diversified Sales, management now evaluates performance using two reportable segments, Stormwater and Wastewater, and has changed the segment profitability measure to Adjusted EBITDA.
The company states the segment realignment does not change previously reported consolidated net sales, income from operations, net income attributable to ADS, or earnings per share. Quarterly segment net sales and Adjusted EBITDA for fiscal 2026, 2025 and 2024 have been recast and furnished in Exhibit 99.1 for informational and supplemental purposes only, and are not amendments or restatements of prior financial statements.
Advanced Drainage Systems reported solid growth for Q4 and fiscal 2026 while raising its dividend. Fourth quarter net sales rose 9.9% to $676.8 million, with stormwater revenue boosted by the NDS acquisition and 2% organic stormwater growth. Q4 Adjusted EBITDA increased 6.4% to $188.0 million, though GAAP net income from continuing operations fell to $35.2 million due to acquisition, restructuring and realignment costs.
For fiscal 2026, net sales grew 5.0% to $3,050.4 million and Adjusted EBITDA increased 8.3% to $962.9 million, lifting the Adjusted EBITDA margin to 31.6%. Adjusted EPS from continuing operations rose to $6.27, while reported diluted EPS from continuing operations edged down to $5.45. Cash from operations reached $819.1 million and free cash flow was $569.3 million.
The company closed the NDS acquisition, realigned into Stormwater and Wastewater segments, and increased net debt to $1,548.9 million, resulting in a 1.6x leverage ratio as of March 31, 2026. Management issued fiscal 2027 targets of $3.35–$3.55 billion in net sales and $1.0–$1.05 billion in Adjusted EBITDA, implying continued growth but lower margins. The Board approved an 11% increase in the annual cash dividend to $0.80 per share, or $0.20 quarterly, payable June 15, 2026.
Advanced Drainage Systems, Inc. completed a major refinancing of its debt. The company issued $500.0 million of 5.375% senior notes maturing on March 1, 2034, guaranteed by certain domestic subsidiaries, with interest paid in cash semi-annually starting September 1, 2026.
The company plans to use the notes’ net proceeds, together with a new term loan B under its senior secured credit facility, to refinance that facility and redeem its 5.000% senior notes due 2027 in full, with any remaining amounts for general corporate purposes.
Through a Fourth Amendment to its Credit Agreement, the company increased its Revolving Facility from $600 million to $750 million, put in place a new $600 million Term Facility maturing on February 28, 2033, extended the Revolving Facility maturity to February 27, 2031, adjusted interest margins, and added incremental facilities up to the greater of $350 million or 100% of consolidated EBITDA.
Advanced Drainage Systems, Inc. is raising new long-term debt and reshaping its capital structure. The company has priced a private offering of $500 million in 5.375% senior unsecured notes due 2034, expected to close on February 27, 2026, subject to customary conditions.
ADS plans to amend its senior secured credit facility to increase the revolving credit facility from $600 million to $750 million, increase the term loan B from $408 million to $600 million, and extend the facility’s maturity. Together with the expanded term loan B, proceeds from the new notes are intended to refinance the outstanding balance under the existing senior secured credit facility and redeem all of the company’s 5.000% senior notes due 2027, originally issued in an aggregate principal amount of $350 million, with any remaining funds for general corporate purposes.
ADS has elected to exercise its optional redemption rights for the 2027 notes at 100% of principal plus accrued and unpaid interest, with a redemption date set for February 27, 2026. The obligation to complete this redemption is conditioned on receiving sufficient proceeds from the issuance and sale of debt securities on terms the company finds satisfactory.
Advanced Drainage Systems, Inc. plans a private offering of up to $500 million in senior unsecured notes due 2034, subject to market and other conditions. The notes will be guaranteed by its domestic subsidiaries that already guarantee its senior secured credit facility.
In connection with this offering, the company expects to amend its senior secured credit facility to increase the revolving credit facility from $600 million to $750 million, raise the term loan B from $408 million to $600 million, and extend the facility’s maturity. ADS intends to use note proceeds and term loan B proceeds to refinance the existing credit facility, redeem its 5.000% senior notes due 2027, and use any remaining funds for general corporate purposes.
Advanced Drainage Systems, Inc. reported unaudited results for its fiscal third quarter ended December 31, 2025 and simultaneously strengthened its capital return plans. The company announced a $1 billion increase to its existing stock repurchase program, which had approximately $147.7 million of remaining repurchase authority. With this increase, total repurchase authority under the program is $1.148 billion, with buybacks to be executed in the open market or through privately negotiated transactions and with no obligation to repurchase a specific amount. The company’s board also approved a $0.18 per share cash dividend, payable March 16, 2026 to shareholders of record on March 2, 2026, underscoring an ongoing distribution of cash to stockholders alongside the enlarged buyback authorization.
Advanced Drainage Systems, Inc. completed its previously announced all-cash acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE that comprise substantially all of its National Diversified Sales water management business. The transaction value is approximately $1.0 billion, subject to purchase price adjustments, under a Master Share Purchase Agreement dated September 23, 2025. The company also issued a press release on February 2, 2026 to announce the closing.
Advanced Drainage Systems (WMS) furnished unaudited results for its fiscal second quarter ended September 30, 2025 and announced a cash dividend. Management hosted a conference call and webcast at 10:00 a.m. Eastern on November 6, 2025, with accompanying slides available as furnished materials.
The Board approved a $0.18 per‑share cash dividend, payable on December 15, 2025 to stockholders of record as of December 1, 2025. The earnings press release and presentation slides were furnished as Exhibits 99.1 and 99.2, and the dividend press release as Exhibit 99.3. An archived webcast is accessible via the company’s Investor Relations website.
Advanced Drainage Systems, Inc. (WMS) entered into a Master Share Purchase Agreement to acquire National Diversified Sales (NDS), the water management business formerly held within NORMA Group SE, for approximately $1.0 billion in an all-cash transaction, subject to customary purchase price adjustments. The company expects the deal to close in the first quarter of calendar 2026 and completion is conditioned on required regulatory approvals and other customary closing conditions. The filing references a press release and investor presentation dated September 23, 2025, and provides executive contact and signature by EVP/CFO Scott A. Cottrill.