ADS posts record Q2 sales of $706.5M (+30% YoY), net income down 5.3%; declares $0.11 dividend

ADVANCED DRAINAGE SYSTEMS, INC.

2021-Q2 EPS reported $1.74 revenue$1,375,771,000

Net sales rose 29.8% to $706.5M, driven by double-digit growth in U.S. construction, agriculture, and Infiltrator sales up 37.7%.
Net income decreased 5.3% to $76.3M; adjusted EBITDA fell 5.3% to $164.8M (23.3% margin vs 32.0% a year ago) due to labor shortages and higher logistics costs.
Board approved $0.11 quarterly cash dividend, payable Dec. 15, 2021 to shareholders of record Dec. 1, 2021.
Year-to-date cash from operations was $94.9M; free cash flow totaled $31.1M; capital spending more than doubled YoY.
Management reaffirmed adjusted EBITDA guidance and raised sales targets, citing strong backlog and pricing traction.

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