Advanced Drainage Systems Slips To Loss In Q1; Affirms FY20 Outlook

(RTTNews) - Advanced Drainage Systems, Inc. (WMS) on Thursday reported net loss of $233.5 million or $4.06 per share for the first quarter, compared to net income of $31.8 million or $0.51 per share in the prior-year period.

The latest quarter's results include $246.8 million of additional one-time ESOP stock-based compensation expense.

Net sales for the quarter increased 6.7 percent to $413.7 million from $387.8 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share for the quarter on revenues of $410.37 million. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2020, ADS confirmed its net sales and adjusted EBITDA outlook for the legacy ADS business. The company forecast net sales in a range of $1.425 billion to $1.475 billion and Adjusted EBITDA of $245 million to $265 million.

The Street expects earnings of $1.46 per share for the year on revenues of $1.46 billion.