Advanced Drainage Systems (NYSE: WMS) reported Q3 EPS of $0.99, $0.20 worse than the analyst estimate of $1.19. Revenue for the quarter came in at $655.2 million versus the consensus estimate of $713.57 million.

GUIDANCE:

Advanced Drainage Systems sees FY2023 revenue of $2.975-3.05 billion, versus the consensus of $3.05 billion.

• Based on current visibility, backlog of existing orders and business trends, the Company updated its financial targets for fiscal 2023. Net sales are now expected to be in the range of $2.975 billion to $3.050 billion. Adjusted EBITDA is now expected to be in the range of $850 to $890 million. Capital expenditures are expected to be approximately $175 million.

For earnings history and earnings-related data on Advanced Drainage Systems (WMS) click here.