Advanced Drainage Trims FY24 Net Sales Outlook; Boosts Dividend 14% - Update

Advanced Drainage Systems

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Kaufen / Verkaufen

(RTTNews) - While reporting financial results for the second quarter on Friday, water management solutions firm Advanced Drainage Systems Inc. (WMS) trimmed its net sales guidance for the full-year 2025, based on current visibility, backlog of existing orders and business trends.

For fiscal 2025, the company now projects net sales in a range of $2.900 billion to $2.975 billion, down from the prior forecast range of $2.925 billion to $3.025 billion. The Street is looking for revenues of $2.99 billion for the year.

On average, eight analysts polled by Thomson Reuters expect the company to report revenues of $2.99 billion for the year.

Separately, the company's Board of Directors has approved a 14 percent higher quarterly cash dividend to its shareholders in the amount of $0.16 per share, payable on December 16, 2024, to shareholders of record at the close of business on December 2, 2024.

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