ADS Q2 2023 Earnings Report
Key Takeaways
Advanced Drainage Systems reported a 25.2% increase in net sales, reaching $884.2 million, and a 101.0% increase in net income, totaling $153.4 million for the second quarter of fiscal year 2023. The company experienced growth in both construction and agriculture end markets, driven by favorable pricing and strong volume growth in Allied Products.
Net sales increased by 25.2% to $884.2 million.
Net income increased by 101.0% to $153.4 million.
Adjusted EBITDA increased by 59.7% to $263.2 million.
The company is lowering its fiscal year revenue guidance to the original Fiscal 2023 guidance of $3.100 billion to $3.200 billion.
ADS
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ADS Revenue by Segment
Forward Guidance
The company updated its financial targets for fiscal 2023. Net sales are now expected to be in the range of $3.100 billion to $3.200 billion. Adjusted EBITDA is unchanged and expected to be in the range of $900 to $940 million. Capital expenditures are expected to be approximately $175 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income