Advanced Drainage Q1 Results Miss Estimates; Reaffirms FY24 Outlook; Boosts Dividend 14% - Update

RTTNews | 392日前
Advanced Drainage Q1 Results Miss Estimates; Reaffirms FY24 Outlook; Boosts Dividend 14% - Update

(RTTNews) - Water management solutions firm Advanced Drainage Systems Inc. (WMS) reported Thursday that net income available to common stockholders for the first quarter decreased to $161.40 million or $2.06 per share from $173.65 million or $2.18 per share in the prior-year quarter.

Net sales for the quarter grew 4.8 percent to $815.34 million from $778.05 million in the same quarter last year.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $2.08 per share on net sales of $830.30 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2025, the company continues to project net sales in the range of $2.925 billion to $3.025 billion and adjusted EBITDA in the range of $940 million to $980 million. The Street is looking for revenues of $3.01 billion for the year.

Capital expenditures for the year are also still expected to be in the range of $250 million to $300 million.

Separately, the company's Board of Directors has approved a quarterly cash dividend to its shareholders in the amount of $0.16 per share, a 14 percent increase over the prior year dividend amount. The quarterly cash dividend will be paid on September 13, 2024, to shareholders of record at the close of business on August 30, 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Canadian Market Looks Headed For Another Positive Close

Canadian Market Looks Headed For Another Positive Close

The Canadian market is firmly placed in positive territory Thursday afternoon, thanks largely to a fine performance by several technology stocks, and a few frontline stocks from consumer discretionary, real estate, communications and financials sectors.
RTTNews | 3時31分前
Swiss Market Closes On Buoyant Note

Swiss Market Closes On Buoyant Note

The Switzerland market closed on a strong note on Thursday, in line with most of the markets across Europe, amid rising expectations of a rate cut by the Federal Reserve, and easing concerns about tariffs.
RTTNews | 4時6分前
European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data

European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data

European stocks closed mostly higher on Thursday, with most of the markets in the region gaining for a second straight day amid cooling bond markets. Still, the mood in the markets remained a bit cautious with investors looking ahead to crucial U.S. non-farm payroll data on Friday.
RTTNews | 4時41分前
U.S. Services Index Climbs To Six-Month High In August

U.S. Services Index Climbs To Six-Month High In August

Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.
RTTNews | 7時8分前
U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated

U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated

A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.
RTTNews | 7時26分前
U.S. Trade Deficit Widens More Than Expected As Imports Spike

U.S. Trade Deficit Widens More Than Expected As Imports Spike

With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.
RTTNews | 7時56分前