ADS Files Q3 FY25 10-Q

TL;DR

ADS dropped its Q3 FY25 10-Q. Check financials.

AI Summary

Advanced Drainage Systems, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter and the first nine months of fiscal year 2025. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.

Why It Matters

This filing provides investors with an update on Advanced Drainage Systems' financial performance and operational status for the most recent quarter, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• 2024-12-31 — Period End Date (The report covers financial data up to this date.)
• 2025-02-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ADVANCED DRAINAGE SYSTEMS, INC. (company) — Filer
• 20241231 (date) — Period of Report
• 20250206 (date) — Filing Date
• HILLIARD, OH (location) — Business Address

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share WMS New York Stock

Filing Documents

• wms-20241231.htm (10-Q) — 1370KB
• wms-12312024xexhibit311.htm (EX-31.1) — 10KB
• wms-12312024xexhibit312.htm (EX-31.2) — 10KB
• wms-12312024xexhibit321.htm (EX-32.1) — 5KB
• wms-12312024xexhibit322.htm (EX-32.2) — 5KB
• 0001604028-25-000005.txt ( ) — 6578KB
• wms-20241231.xsd (EX-101.SCH) — 38KB
• wms-20241231_cal.xml (EX-101.CAL) — 66KB
• wms-20241231_def.xml (EX-101.DEF) — 203KB
• wms-20241231_lab.xml (EX-101.LAB) — 549KB
• wms-20241231_pre.xml (EX-101.PRE) — 396KB
• wms-20241231_htm.xml (XML) — 900KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) Page Condensed Consolidated Balance Sheets as of December 31, 2024 and March 31, 2024 4 Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended December 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity and Mezzanine Equity for the three and nine months ended December 31, 2024 and 2023 8 Notes to the Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

Signatures

Signatures 30 - ii -

Forward-Looking Statements

Forward-Looking Statements This Form 10-Q includes forward-looking statements. Some of the forward-looking statements can be identified by the use of terms such as "believes," "expects," "may," "will," "would," "should," "could," "seeks," "predict," "potential," "target," "outlook," "continue," "intends," "plans," "projects," "estimates," "anticipates" or other comparable terms or the negative of those terms or similar expressions. These forward-looking statements include all matters that are not related to present facts or current conditions or that are not historical facts. They appear in a number of places throughout this Form 10-Q and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our consolidated results of operations, financial condition, liquidity, prospects, growth strategies, and the industries in which we operate and include, without limitation, statements relating to our future performance. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond our control. We caution you that forward-looking statements are not guarantees of future performance and that our actual consolidated results of operations, financial condition, liquidity and industry development may differ materially from those made in or suggested by the forward-looking statements contained in this Form 10-Q. In addition, even if our actual consolidated results of operations, financial condition, liquidity and industry development are consistent with the forward-looking statements contained in this Form 10-Q, those results or developments may not be indicative of results or developments in subsequent periods. A number of important factors could cause actual results to differ materially from those contained in or implied by the forward-looking statements, including those reflected in forward-looking statements relating to our operations and business, the risks and uncertainties di

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ADVANCED DRAINAGE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except par value) December 31, 2024 March 31, 2024 ASSETS Current assets: Cash $ 488,859 $ 490,163 Receivables (less allowance for doubtful accounts of $ 7,346 and $ 4,849 , respectively) 247,940 323,576 Inventories 476,369 464,200 Other current assets 31,928 22,028 Total current assets 1,245,096 1,299,967 Property, plant and equipment, net 1,017,555 876,351 Other assets: Goodwill 720,543 617,183 Intangible assets, net 462,491 352,652 Other assets 156,569 122,760 Total assets $ 3,602,254 $ 3,268,913 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY Current liabilities: Current maturities of debt obligations $ 10,621 $ 11,870 Current maturities of finance lease obligations 30,944 18,015 Accounts payable 183,913 254,401 Other accrued liabilities 162,205 154,260 Accrued income taxes 407 1,076 Total current liabilities 388,090 439,622 Long-term debt obligations (less unamortized debt issuance costs of $ 8,226 and $ 9,759 , respectively) 1,253,129 1,259,522 Long-term finance lease obligations 114,927 61,661 Deferred tax liabilities 193,285 156,705 Other liabilities 88,437 70,704 Total liabilities 2,037,868 1,988,214 Commitments and contingencies (see Note 9) Mezzanine equity: Redeemable common stock: $ 0.01 par value; 5,861 and 6,682 shares outstanding, respectively 95,250 108,584 Total mezzanine equity 95,250 108,584 Stockholders' equity: Common stock; $ 0.01 par value: 1,000,000 shares authorized; 83,573 and 82,283 shares issued, respectively; 71,677 and 70,868 shares outstanding, respectively 11,693 11,679 Paid-in capital 1,269,230 1,219,834 Common stock in treasury, at cost ( 1,219,404 ) ( 1,140,578 ) Accumulated other comprehensive loss ( 38,378 ) ( 29,830 ) Retained earnings 1,427,891 1,092,208 Total ADS stockholders' equity 1,451,032 1,153,313 Nonco

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