Advanced Drainage Systems Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Advanced Drainage Systems Inc. (WMS) reported earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $130.38 million, or $1.67 per share. This compares with $135.80 million, or $1.71 per share, in last year's second quarter.

Excluding items, Advanced Drainage Systems Inc. reported adjusted earnings of $1.70 per share for the period.

Analysts on average had expected the company to earn $1.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $782.61 million from $780.22 million last year.

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

-Earnings (Q2): $130.38 Mln. vs. $135.80 Mln. last year. -EPS (Q2): $1.67 vs. $1.71 last year. -Revenue (Q2): $782.61 Mln vs. $780.22 Mln last year.

-Guidance: Full year revenue guidance: $2.900 - $2.975 Bln