Advanced Drainage Systems, Inc. (WMS), an innovative water management solutions company, on Thursday reported its third quarter net income increased compared with the previous year.
For the third quarter, net income attributable to the company jumped to $93.63 million from $81.23 million in the previous year.
Earnings per share were $1.19 versus $1.04 last year.
Adjusted earnings per share were $1.27 versus $1.09 last year.
On average, 8 analysts had expected the company to report $1.11 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA surged to $209.22 million from $191.49 million in the same period last year.
Income from operations rose to $136.82 million from $126.86 million in the prior year.
Net sales increased to $693.35 million from $690.54 million in the previous year.
Further, the company on Thursday announced a new $1 billion share buyback authorization, increasing the total repurchase capacity to $1.15 billion.
Looking ahead, net sales for the full year 2026 are expected to be between $2.990 billion and $3.040 billion.
Adjusted EBITDA is anticipated to be in the range of $930 million to $960 million for the full year 2026.
In the pre-market trading, Advanced Drainage Systems is 1.94% higher at $163.37 on the New York Stock Exchange.
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