Advanced Drainage Systems Inc. Announces Increase In Q3 Income, but misses estimates

(RTTNews) - Advanced Drainage Systems Inc. (WMS) reported a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $62.86 million, or $0.86 per share. This compares with $44.68 million, or $0.62 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 47.2% to $715.4 million from $486.1 million last year.

Advanced Drainage Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $62.86 Mln. vs. $44.68 Mln. last year. -EPS (Q3): $0.86 vs. $0.62 last year. -Analyst Estimate: $0.91 -Revenue (Q3): $715.4 Mln vs. $486.1 Mln last year.

-Guidance: Full year revenue guidance: $2.675 - $2.725 bln