Stock Track | Advanced Drainage Systems Plunges on Q3 Earnings Miss and Lowered Guidance

Stock Track11-08

Shares of Advanced Drainage Systems (NYSE:WMS) plummeted as much as 11.31% on November 8, 2024, after the water management company reported disappointing fiscal third-quarter results and trimmed its full-year guidance.

For the quarter ended September 30, 2024, Advanced Drainage posted revenue of $782.6 million, missing analysts' average estimate of $819.4 million. The company's adjusted earnings per share of $1.70 also fell short of the consensus forecast of $1.89.

Adding to investor concerns, Advanced Drainage lowered its fiscal 2025 revenue outlook to a range of $2.9 billion to $2.975 billion, down from its previous guidance of $2.93 billion to $3.03 billion. The revised guidance missed Wall Street's expectations of approximately $2.99 billion.

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