secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK:        0001604028
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001604028-23-000033
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604028/000160402823000033/0001604028-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604028/000160402823000033/wms-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001604028-23-000033

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