About Advanced Drainage
Advanced Drainage Systems (ADS) has a market cap of $1.60 billion. It manufactures thermoplastic corrugated pipe. It also provides a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. The products are used in end markets and applications—including non-residential, residential, agriculture, and infrastructure applications.
Advanced Drainage Systems’ (WMS) price movement on a weekly, monthly, and YTD (year-to-date) basis is 1.77%, 4.31%, and 26%, respectively. The YTD price movement of the PowerShares Dynamic Building & Construction Port (PKB), the Guggenheim S&P Global Water ETF (CGW), and the WisdomTree SmallCap Dividend ETF (DES) is 11.90%, -6.31%, -7.64%, respectively.
On August 17, 2015, the company announced that it will restate all the financial statements and other financial data—including its May 12, 2015, earnings report as filed with the SEC (Security and Exchange Commission). The restated financial information will include the annual periods ending on March 31, 2010, 2011, 2012, 2013, and 2014, as set forth in the Company’s Registration Statements on Form S-1. It will also include the quarterly periods ending June 30, September 30, and December 31, 2013, and 2014, as set forth in the Company’s Quarterly Reports on Form 10-Q. The adjustments are made in three areas—lease adjustments, inventory adjustments, and other adjustments. On August 17, 2015, the company announced a quarterly cash dividend of $0.05 per share for its shareholders.
On July 20, 2015, Advanced Drainage Systems announced that it acquired operational control of its BaySaver joint venture from its partner, BaySaver Technologies (BTI). The company has opened a new distribution center in Abbotsford, British Columbia.