FX.co ★ Advanced Drainage Trims FY24 Net Sales Outlook; Boosts Dividend 14% - Update

In its second-quarter financial report released on Friday, Advanced Drainage Systems Inc. (WMS), a leader in water management solutions, announced a revision to its full-year 2025 net sales forecast. This adjustment reflects the current market visibility, the existing order backlog, and prevailing business trends.

The company now anticipates net sales to fall within the range of $2.900 billion to $2.975 billion, a slight decrease from the earlier projection of $2.925 billion to $3.025 billion. This contrasts with market expectations, as analysts surveyed by Thomson Reuters have estimated annual revenues at approximately $2.99 billion.

Additionally, Advanced Drainage Systems' Board of Directors has sanctioned a 14% increase in the quarterly cash dividend, raising it to $0.16 per share. This dividend will be distributed on December 16, 2024, to shareholders recorded by the close of business on December 2, 2024.