Advanced Drainage Systems falls on Q2 sales miss

Advanced Drainage Systems

08/11/2024 14:31

** Shares of pipe manufacturer Advanced Drainage Systems  WMS.N 
fall 5% to $151 premarket
    ** Co reports Q2 net sales of $782.6 million vs analysts'
avg est of $822.4 million - LSEG data
    ** However, WMS posts Q2 adj profit of $1.70 per share,
above expectations of $1.47 per share
    ** WMS sees FY net sales in range of $2.90 bln to $2.97 bln
vs expectations of $2.99 bln
    ** Co approved annual cash dividend of 16 cents/shr to its
shareholders, 14% increase over the prior-year dividend amount
    ** YTD, WMS is up 13.5%
    
    
    
    
    
    
    
    
    
    
    

 (Reporting by Khusbu Jena in Bengaluru)
 ((Khusbu.Jena@thomsonreuters.com;))