---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-23-000012"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2023-05-18T23:59:59+00:00"
generated_at: "2026-06-14T21:16:33.357765+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Advanced Drainage Systems reports FY23 record revenue $3.07B (+10.9%), net income $511.4M (+85.9%), dividend up 17%

## Summary
- Q4 net sales down 8.9% YoY to $617.6M; net income up 83.1% to $86.3M.
- Q4 Adjusted EBITDA $172.0M, up 2.1% YoY; margin 27.8% vs 24.8% prior year.
- FY23 diluted EPS $6.08; Adjusted EBITDA $904.0M, up 33.7%.
- Free cash flow $540.9M, up $415.1M YoY.
- Quarterly cash dividend increased 17% to $0.14 (annual $0.56), payable June 15 to holders of record June 1.

## SEC filing metadata
- accession: 0001604028-23-000012
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2023-05-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000012/0001604028-23-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000012/wms-20230518.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-23-000012
- JSON: https://secwatch.observer/filing/0001604028-23-000012.json
- Plain text: https://secwatch.observer/filing/0001604028-23-000012.txt

## Key facts
- Earnings Releases
  ADVANCED DRAINAGE SYSTEMS, INC. reported the fiscal year ended March 31, 2023 results: revenue $3,071.1 million, net income $511.4 million, EPS $6.08.
  - Period: the fiscal year ended March 31, 2023
  - Revenue: $3,071.1 million
  - Net income: $511.4 million
  - EPS: $6.08
  - Result: reported results
  source text: Fiscal 2023 Results • Net sales increased 10.9% to $3,071.1 million • Net income increased 85.9% to $511.4 million • Diluted net income per share of $6.08
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000012/0001604028-23-000012-index.htm
- Earnings Releases
  ADVANCED DRAINAGE SYSTEMS, INC. reported the fourth quarter ended March 31, 2023 results: revenue $617.6 million, net income $86.3 million.
  - Period: the fourth quarter ended March 31, 2023
  - Revenue: $617.6 million
  - Net income: $86.3 million
  - Result: reported results
  source text: Fourth Quarter Fiscal 2023 Results • Net sales decreased 8.9% to $617.6 million • Net income increased 83.1% to $86.3 million • Adjusted EBITDA (Non-GAAP) increased 2.1% to $172.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000012/0001604028-23-000012-index.htm

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