Advanced Drainage: Fiscal Q2 Earnings Snapshot

HILLIARD, Ohio (AP) — HILLIARD, Ohio (AP) — Advanced Drainage Systems Inc. (WMS) on Thursday reported fiscal second-quarter net income of $110.4 million.

The Hilliard, Ohio-based company said it had net income of $1.46 per share. Earnings, adjusted for one-time gains and costs, were $1.88 per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.

The maker of water drainage systems and pipes posted revenue of $889.4 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $933.6 million.

Advanced Drainage expects full-year revenue in the range of $3.3 billion to $3.4 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