Advanced Drainage: Fiscal Q1 Earnings Snapshot
HILLIARD, Ohio (AP) — HILLIARD, Ohio (AP) — Advanced Drainage Systems Inc. (WMS) on Thursday reported fiscal first-quarter profit of $173.7 million.
The Hilliard, Ohio-based company said it had net income of $2.18 per share. Earnings, adjusted for non-recurring gains, were $2.04 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The maker of water drainage systems and pipes posted revenue of $778 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $746.3 million.
Advanced Drainage expects full-year revenue in the range of $2.6 billion to $2.8 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMS at https://www.zacks.com/ap/WMS
