January 20, 2017 12:44 PM ET

Building Products

Company Overview of Advanced Drainage Systems, Inc.

Company Overview

Advanced Drainage Systems, Inc. designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators. It also purchases and distributes construction fabrics, as well as other geosynthetic products for soil stabilization, reinforcement, filtration, separation, erosion contr...

4640 Trueman Boulevard

Hilliard, OH 43026

United States

Founded in 1966

4,300 Employees

Phone:

614-658-0050

Key Executives for Advanced Drainage Systems, Inc.

Chairman, Chief Executive Officer and President
Age: 70
Total Annual Compensation: $543.8K
Chief Financial Officer, Executive Vice President, Treasurer and Secretary
Age: 50
Total Annual Compensation: $195.9K
Co-Chief Operating Officer and Executive Vice President
Age: 58
Total Annual Compensation: $333.3K
Co-Chief Operating Officer and Executive Vice President
Age: 49
Total Annual Compensation: $307.1K
Executive Vice President of Sales
Age: 53
Total Annual Compensation: $288.3K
Compensation as of Fiscal Year 2016.

Advanced Drainage Systems, Inc. Key Developments

Advanced Drainage Systems, Inc. Announces Earnings Results for the Fiscal Second Quarter and Six Months Ended September 30, 2016; Provides Free Cash Flow Guidance for the Second Half of Fiscal 2017 and Revises Earnings Guidance for the Fiscal Year 2017

Advanced Drainage Systems, Inc. announced earnings results for the fiscal second quarter and six months ended September 30, 2016. For the quarter, net sales decreased $22.5 million, or 5.9%, to $360.8 million compared to $383.3 million in the prior fiscal second quarter. The decrease in Net Sales were primarily due to a weaker than anticipated domestic construction market and continued softness in the domestic agriculture market and Mexico. The company reported adjusted EBITDA (Non-GAAP) of $65.6 million compared to Adjusted EBITDA of $63.7 million in the prior fiscal second quarter, an increase of 2.9%. The increase in Adjusted EBITDA was largely attributed to the same factors mentioned above. Adjusted earnings per fully converted share (Non-GAAP) was $0.35 per share based on weighted average fully converted shares of 73.4 million, improved from an adjusted earnings per fully converted share of $0.21 per share for the prior fiscal second quarter. For the fiscal first half 2017, the company recorded net cash provided by operating activities of $45.6 million compared to $16.9 million for the same period last year. Net debt (total debt and capital lease obligations net of cash) was $420.2 million as of September 30, 2016, a decrease of $75.0 million from September 30, 2015. The company provided free cash flow guidance for the second half of fiscal 2017 and revised earnings guidance for the fiscal year 2017. The company expects free cash flow generation should remain strong in the second half of fiscal 2017, which will provide additional avenues to create shareholder value including investing in business, making selective acquisitions and returning cash to shareholders. Based on current visibility, backlog of existing orders and business trends, the company has revised its net sales and adjusted EBITDA targets for fiscal 2017. Net sales are now expected to be in the range of $1.225 billion to $1.250 billion with adjusted EBITDA between $190 and $210 million for fiscal year 2017. The revised guidance is predicated on the belief that end market performance will be slightly lower than previously expected for fiscal year 2017.

Advanced Drainage Mulls Acquisitions

Advanced Drainage Systems, Inc. (NYSE:WMS) is seeking acquisitions, Joe Chlapaty, Chairman and Chief Executive Officer of Advanced Drainage Systems, said, "In addition to organic investments, we also expect to build on our track record of making strategic acquisitions to complement our product mix and geographic footprint."

Advanced Drainage Systems, Inc. to Report Q2, 2017 Results on Jan 12, 2017

Advanced Drainage Systems, Inc. announced that they will report Q2, 2017 results at 9:00 AM, Eastern Standard Time on Jan 12, 2017

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