Advanced Drainage Systems Sees FY24 Net Sales Between $2.8B-$2.85B Vs. 2.78B Est. (Prior View: $2.70B-$2.80B), Adjusted EBITDA Expected Between $880M-$910M (Prior View: $800M-$850M)
Portfolio Pulse from Benzinga Newsdesk
Advanced Drainage Systems (WMS) has updated its FY24 financial outlook, projecting net sales between $2.8B-$2.85B, up from the prior estimate of $2.70B-$2.80B, and adjusted EBITDA between $880M-$910M, an increase from the previous range of $800M-$850M. The company also anticipates capital expenditures of approximately $200 million.
February 08, 2024 | 11:51 am
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Advanced Drainage Systems (WMS) has raised its FY24 financial forecasts, indicating stronger than expected performance.
Raising financial forecasts, especially net sales and EBITDA, is a strong positive signal to the market, indicating that the company is performing better than previously expected. This typically leads to increased investor confidence and can drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100