---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-23-000006"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T02:24:14.585975+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ADS Q3 sales $655M (-8.4%); net income $83M (+11.7%); dividend raised 9% to $0.12

## Summary
- Net sales $655.2M (-8.4% YoY); net income $83.2M (+11.7% YoY); adjusted EBITDA $169.7M (-3.6% YoY).
- Infiltrator sales fell 30.1% to $103.9M; domestic pipe sales down 6.1% to $375.7M.
- Free cash flow $533.6M YTD, up 370% YoY; cash from ops $660.4M, up 240.7%.
- Board declared $0.12 quarterly dividend (9% increase over prior year), payable Mar 15, 2023 to holders of record Mar 1, 2023.
- Management expects challenging demand for most of calendar 2023; reducing headcount and optimizing network.

## SEC filing metadata
- accession: 0001604028-23-000006
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000006/0001604028-23-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000006/wms-20230202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-23-000006
- JSON: https://secwatch.observer/filing/0001604028-23-000006.json
- Plain text: https://secwatch.observer/filing/0001604028-23-000006.txt

## Key facts
- Earnings Releases
  ADVANCED DRAINAGE SYSTEMS, INC. reported the fiscal third quarter ended December 31, 2022 results: revenue $655.2 million, net income $83.2 million. Guidance reaffirmed.
  - Period: the fiscal third quarter ended December 31, 2022
  - Revenue: $655.2 million
  - Net income: $83.2 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Third Quarter Fiscal 2023 Results • Net sales decreased 8.4% to $655.2 million • Net income increased 11.7% to $83.2 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000006/0001604028-23-000006-index.htm
- Earnings Releases
  ADVANCED DRAINAGE SYSTEMS, INC. reported Year-to-Date Fiscal 2023 results: revenue $2,453.6 million, net income $425.0 million. Guidance reaffirmed.
  - Period: Year-to-Date Fiscal 2023
  - Revenue: $2,453.6 million
  - Net income: $425.0 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Year-to-Date Fiscal 2023 Results • Net sales increased 17.3% to $2,453.6 million • Net income increased 86.5% to $425.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000006/0001604028-23-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.