(RTTNews) - Advanced Drainage Systems, Inc. (WMS), a provider of innovative water management solutions, on Thursday reported higher net income in the first quarter compared with the previous year.
For the first quarter, net income increased to $170.92 million from $144.09 million in the prior year.
Net income attributable to ADS increased to $168.52 million from $143.92 million in the previous year.
Earnings per share were $2.19 versus $1.84 last year.
EBITDA rose to $319.45 million from $264.02 million in the previous year.
Adjusted EBITDA increased to $358.27 million from $278.17 million in the same period a year ago.
Income from operations jumped to $254.55 million from $205.75 million in the prior year.
Net sales increased to $1.001 billion from $829.88 million in the previous year.
Looking ahead, the company confirmed its fiscal 2027 financial targets and continues to expect net sales of $3.350 billion to $3.550 billion and adjusted EBITDA of $1 billion to $1.050 billion.
In the pre-market trading, Advanced Drainage Systems is 0.60% higher at $150.49 on the New York Stock Exchange.
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