Advanced Drainage Systems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 08, 2024 at 04:09 pm EST
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Advanced Drainage Systems, Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was USD 662.37 million compared to USD 655.17 million a year ago. Net income was USD 105.64 million compared to USD 82.04 million a year ago. Basic earnings per share from continuing operations was USD 1.36 compared to USD 1 a year ago. Diluted earnings per share from continuing operations was USD 1.34 compared to USD 0.99 a year ago.
For the nine months, sales was USD 2,220.63 million compared to USD 2,453.56 million a year ago. Net income was USD 415.09 million compared to USD 421.19 million a year ago. Basic earnings per share from continuing operations was USD 5.29 compared to USD 5.08 a year ago. Diluted earnings per share from continuing operations was USD 5.24 compared to USD 5.02 a year ago.
Advanced Drainage Systems, Inc. is engaged in manufacturing water management solutions for the stormwater and onsite septic wastewater industries, which provides superior drainage solutions for use in the construction and agriculture marketplaces. The Company's segments include Pipe, International, Infiltrator and Allied Products & Other. Its Pipe segment manufactures and markets performance thermoplastic corrugated pipe throughout the United States. Its Infiltrator is engaged in providing plastic leach field chambers and systems, septic tanks and accessories, primarily for use in residential applications. International segment manufactures and markets products in regions outside of the United States, with owned facilities in Canada and those markets serviced through its joint ventures in Mexico and South America. The Companyâs Allied Products & Other segment offers adjacent technologies to its core Pipe offering, presenting a complete drainage solution for its clients and customers.
ADVANCED DRAINAGE SYSTEMS, INC. 
