Advanced Drainage Systems Q1 FY24 net sales down 14.9% to $778M; EPS $2.18; dividend up 17% to $0.14

ADVANCED DRAINAGE SYSTEMS, INC.

2023-Q3 EPS reported $2.18 revenue$778,046,000

Net sales fell 14.9% to $778.0M; diluted EPS $2.18 (down 1.7%); adjusted EBITDA $281.3M (-5.9%) with record margin 36.2%.
Domestic pipe sales down 18.3% to $428.6M; Infiltrator down 14.9% to $141.5M; International down 26.2% to $52.8M.
Board declared quarterly dividend of $0.14/share, a 17% increase, payable Sept 15, 2023 to holders of record Sept 1.
Management cited better-than-expected Infiltrator and Allied products performance; cost controls boosted adjusted EBITDA margin 350 bps.
Gross profit $331.5M (-5.9%); free cash flow $201.9M (-5.5%).

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADVANCED DRAINAGE SYSTEMS, INC. reported the fiscal first quarter ended June 30, 2023 results: revenue $778.0 million, net income $173.9 million, EPS $2.18.

Period: the fiscal first quarter ended June 30, 2023
Revenue: $778.0 million
Net income: $173.9 million
EPS: $2.18
Result: reported results

Exact text from the filing

Net sales decreased 14.9% to $778.0 million • Net income decreased 7.7% to $173.9 million • Net income per diluted share decreased 1.7% to $2.18

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Source: SEC EDGAR

accession 0001604028-23-000033

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