Advanced Drainage Systems Now Expects FY20 Outlook At Higher End Of Range

(RTTNews) - While reporting financial results for the third quarter on Thursday, Advanced Drainage Systems Inc. (WMS) said it now expects net sales and adjusted EBITDA for the full year 2020 to now be at the higher end of previously communicated guidance ranges. This is based on year-to-date performance, current visibility, backlog of existing orders and business trends.

For fiscal 2020, the company continues to projects net sales in the range of $1.60 billion to $1.65 billion and adjusted EBITDA in the range of $325 million to $345 million, but now at the higher end of the range.

The guidance includes the legacy ADS business and eight months of Infiltrator Water Technologies included in fiscal 2020.

On average, analysts polled by Thomson Reuters expect the company to net sales of $1.63 billion for the year.

Separately, the announced that its Board of Directors has approved a quarterly cash dividend to its shareholders in the amount of $0.09 per share, payable on March 16, 2020 to shareholders of record at the close of business on March 2, 2020.