Brief: Advanced Drainage Systems Announces Third Quarter Fiscal 2023 Results

Advanced Drainage Systems

02/02/2023 12:59

Advanced Drainage Systems Inc  WMS.N :
    * ADVANCED DRAINAGE SYSTEMS ANNOUNCES THIRD QUARTER FISCAL
2023
RESULTS
    * QTRLY NET SALES DECREASED 8.4% TO $655.2 MILLION
    * IN FISCAL 2023 NET SALES ARE NOW EXPECTED TO BE IN RANGE
OF
$2.975 BILLION TO $3.050 BILLION
    * ADVANCED DRAINAGE SYSTEMS - GOING FORWARD, EXPECT ANNUAL
MARGIN
PERFORMANCE TO BE CONSISTENT WITH WHAT WE COMMUNICATED AT
INVESTOR DAY IN MARCH 2022
    * FISCAL 2023 CAPITAL EXPENDITURES ARE EXPECTED TO BE
APPROXIMATELY $175 MILLION
    * FY2023 REVENUE VIEW $3.15 BILLION -- REFINITIV IBES DATA
    * EXPECT MAJORITY OF CALENDAR 2023 TO REMAIN A CHALLENGING
DEMAND
ENVIRONMENT
    * ADJUSTED EBITDA IN FY 2023 IS NOW EXPECTED TO BE IN RANGE
OF
$850 MILLION TO $890 MILLION
    * WILL WORK THROUGH THIS PERIOD OF LOWER DEMAND BY MANAGING
OUR
COSTS, INCLUDING REDUCING HEADCOUNT, OPTIMIZING NETWORK
    * QTRLY EPS $0.99
    * Q3 EARNINGS PER SHARE VIEW $1.16, REVENUE VIEW $714.3
MILLION --
REFINITIV IBES DATA

Source text for Eikon:  ID:nBw2r6NWva 
Further company coverage:  WMS.N