Advanced Drainage Systems Inc. (WMS) has announced a decline in earnings for the second quarter compared to the previous year, and these results also fell short of analysts' expectations.
The company's net income for the quarter amounted to $130.38 million or $1.67 per share. In comparison, it reported $135.80 million or $1.71 per share for the same period last year.
On an adjusted basis, the company's earnings per share stood at $1.70 for the quarter. Analysts, according to data from Thomson Reuters, had projected earnings of $1.89 per share on average. These projections typically do not include special items.
The revenue for Advanced Drainage Systems increased marginally by 0.3%, reaching $782.61 million, up from $780.22 million in the previous year.
Here is a summary of Advanced Drainage Systems Inc.'s second-quarter financial performance (GAAP):
- Earnings: $130.38 million compared to $135.80 million last year
- Earnings Per Share (EPS): $1.67 compared to $1.71 last year
- Revenue: $782.61 million compared to $780.22 million last year
Guidance: The company has issued a full-year revenue guidance in the range of $2.900 to $2.975 billion.
