Advanced Drainage Systems Q4 Profit Matches Estimates; Sales Up 36.2%

(RTTNews) - Advanced Drainage Systems, Inc. (WMS) reported fourth quarter net income per share of $0.01, flat with a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.01, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA increased 95.6% to $72.1 million.

Fourth quarter net sales increased 36.2%, to $370.8 million, compared to $272.2 million, prior year. Analysts expected revenue of $356.4 million for the quarter.

In fiscal 2021, the company projects capital expenditures to be in the range of $60 million to $65 million.