Advanced Drainage Systems(US:WMS)2022-02-04 06:15Financial Performance - Q3 Fiscal Year 2022 revenue increased by 47% to $715 million compared to $486 million in Q3 Fiscal Year 2021[7, 15] - ADS Legacy sales grew by 47% and Infiltrator sales increased by 51%[7] - Adjusted EBITDA for Q3 Fiscal Year 2022 increased by 27% to $176 million from $139 million in Q3 Fiscal Year 2021[10] - Adjusted EBITDA margin was 246% in Q3 Fiscal Year 2021 and 286% in Q3 Fiscal Year 2022, a 400 bps increase[16] - For the nine months ended December 31, 2021, revenue increased by 359% to $2091 million compared to $1539 million for the same period in Fiscal Year 2021[30] - Adjusted EBITDA for the nine months ended December 31, 2021, was $5075 million, compared to $4724 million for the same period in Fiscal Year 2021[32, 41] Business Segments and Markets - Pipe sales increased by 53% and Allied Products sales increased by 33%[15] - Construction market sales increased by 57%, with Non-Residential up 55% and Residential up 62%[15] - Infrastructure sales increased by 35%, while Agriculture sales decreased by 2%[15] Capital Allocation and Liquidity - Year-to-date capital expenditures increased by 74%[13] - $292 million was used for share repurchases[13] - A $1 billion multi-year share repurchase program was announced[13] - Free cash flow was $94 million, a decrease of $297 million compared to $391 million in the previous year[20] Fiscal Year 2022 Guidance - Net sales are expected to be between $2675 million and $2725 million, an increase of 35% to 37% year-over-year[24] - Adjusted EBITDA is projected to be between $635 million and $665 million, an increase of 12% to 17% year-over-year[24]