Advanced Drainage Systems Announces Third Quarter Fiscal 2021 Results
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Advanced Drainage Systems (WMS) Tops Q3 EPS by 15c, Revenues Beat; Offers FY21 Revenue Guidance Above Consensus
February 4, 2021 6:43 AM ESTAdvanced Drainage Systems (NYSE: WMS) reported Q3 EPS of $0.62, $0.15 better than the analyst estimate of $0.47. Revenue for the quarter came in at $486.1 million versus the consensus estimate of $407.9 million.
Third Quarter Fiscal 2021 Results
Net sales increased 23.6% to $486.1 millionNet income increased 128.4% to $54.0 millionAdjusted EBITDA (Non-GAAP) increased 52.1% to $138.9 millionScott Barbour, President and Chief Executive Officer of ADS commented, We delivered a record third quarter in fiscal 2021. Sales grew 24% year-over-year, driven by 17% non-residential sales growth and 36% residential sales growth as we continued to execute on our material conversion strategy in the... More
