Advanced Drainage Systems Q1 Adj EPS $2.04 Beats $1.53 Estimate, Sales $778.05M Beat $746.29M Estimate
Portfolio Pulse from saritha@benzinga.com
Advanced Drainage Systems (NYSE:WMS) reported Q1 earnings of $2.04 per share, beating the analyst consensus estimate of $1.53 by 33.33%. However, this is an 8.11% decrease from the same period last year. The company also reported quarterly sales of $778.05 million, beating the estimate of $746.29 million by 4.26%, but this is a 14.89% decrease from last year.
August 04, 2023 | 12:53 pm
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NEUTRAL IMPACT
Advanced Drainage Systems reported better than expected Q1 earnings and sales, but both are down from the same period last year.
While Advanced Drainage Systems beat Q1 estimates, the year-on-year decreases in earnings and sales may offset any potential positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100