---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-26-000020"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2026-05-21T20:08:16+00:00"
generated_at: "2026-05-21T20:11:30.737503+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ADS realigns segments to Stormwater and Wastewater after NDS acquisition; recasts historical data

## Summary
- Segment realignment follows NDS acquisition; new segments: Stormwater and Wastewater (formerly Infiltrator).
- Segment profitability measure changed from adjusted gross profit to Adjusted EBITDA.
- Fiscal 2026, 2025, 2024 quarterly data recast under new segments; no change to consolidated net sales, income, or EPS.
- Example recast: Q4 FY2026 Stormwater Adjusted EBITDA $140M, Wastewater $61M (both in thousands).

## SEC filing metadata
- accession: 0001604028-26-000020
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2026-05-21T20:08:16+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604028/000160402826000020/0001604028-26-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402826000020/wms-20260521.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-26-000020
- JSON: https://secwatch.observer/filing/0001604028-26-000020.json
- Plain text: https://secwatch.observer/filing/0001604028-26-000020.txt

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