---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-23-000033"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T08:22:33.405624+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%).

## SEC filing metadata
- accession: 0001604028-23-000033
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2023-08-03T23:59:59+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/1604028/000160402823000033/0001604028-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000033/wms-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-23-000033
- JSON: https://secwatch.observer/filing/0001604028-23-000033.json
- Plain text: https://secwatch.observer/filing/0001604028-23-000033.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000033/0001604028-23-000033-index.htm

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