Advanced Drainage Systems Inc reports results for the quarter ended in March - Earnings Summary

Advanced Drainage Systems

16/05/2024 14:32

* Advanced Drainage Systems Inc  WMS.N  reported quarterly
adjusted earnings of $1.21​​ per share for the quarter ended in
March, higher than the same quarter last year, when the company
reported EPS of $1.06.  The mean expectation of eight analysts
for the quarter was for earnings of $1.01 per share. Wall Street
expected results to range from 88 cents to $1.09 per share.
    * Revenue rose 5.9% to $653.84 million from a year ago;
analysts
expected $610.83 million. 
    * Advanced Drainage Systems Inc's reported EPS for the
quarter was
$1.21​.
    * The company reported quarterly net income of $94.82
million.
    * Advanced Drainage Systems Inc shares had risen by 2.3%
this
quarter and gained 25.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
supplies & fixtures peer group is also "buy"

Wall Street's median 12-month price target for Advanced Drainage
Systems Inc is $185.00 
This summary was machine generated from LSEG data May 16 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.01           1.21           Beat
 Dec. 31 2023      1.02           1.34           Beat
 Sep. 30 2023      1.63           1.71           Beat
 Jun. 30 2023      1.54           2.18           Beat