---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-23-000047"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:23:57.231161+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Advanced Drainage Systems Q2 FY2024 revenue down 11.8% to $780M; raises guidance midpoint; dividend up 17% to $0.14

## Summary
- Net sales $780.2M (-11.8% YoY); diluted EPS $1.71 (-4.8%); Adjusted EBITDA $246.3M (-6.4%) with margin expansion to 31.6%.
- FY2024 Adjusted EBITDA guidance mid-point increased; revenue target narrowed to upper end of prior range.
- Quarterly cash dividend raised 17% to $0.14 per share, payable Dec 15 to holders of record Dec 1.
- New manufacturing facility announced in Lake Wales, Florida to support growth in Southeast region.
- Management cites demand headwinds from higher interest rates but confidence in margin performance and secular water management trends.

## SEC filing metadata
- accession: 0001604028-23-000047
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1604028/000160402823000047/0001604028-23-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000047/wms-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-23-000047
- JSON: https://secwatch.observer/filing/0001604028-23-000047.json
- Plain text: https://secwatch.observer/filing/0001604028-23-000047.txt

## Key facts
- Earnings Releases
  ADVANCED DRAINAGE SYSTEMS, INC. reported the fiscal second quarter ended September 30, 2023 results: revenue $780.2 million, net income $137.0 million, EPS $1.71. Guidance raised.
  - Period: the fiscal second quarter ended September 30, 2023
  - Revenue: $780.2 million
  - Net income: $137.0 million
  - EPS: $1.71
  - Guidance: raised
  - Result: reported results
  source text: Net sales decreased 11.8% to $780.2 million • Net income decreased 10.7% to $137.0 million • Net income per diluted share decreased 4.8% to $1.71
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000047/0001604028-23-000047-index.htm

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