Advanced Drainage Q3 revenue up 47% to $715M; dividend raised 22%; new $1B buyback

ADVANCED DRAINAGE SYSTEMS, INC.

2021-Q3 EPS reported $2.61 revenue$2,091,128,000

Net sales $715.4M (+47.1% YoY); net income $74.5M (+37.8%); Adj. EBITDA $176.2M (+26.9%).
Domestic pipe sales rose 57.4% to $400M; Infiltrator sales up 51.1% to $148.7M.
Quarterly dividend increased 22% to $0.11/share, payable March 15 to holders of record March 1.
Board authorized new $1B stock repurchase program; $292M in buybacks executed YTD.
Management increased sales targets and reaffirmed Adj. EBITDA guidance for FY2022.

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