HILLIARD, Ohio (AP) — HILLIARD, Ohio (AP) — Advanced Drainage Systems Inc. (WMS) on Thursday reported fiscal fourth-quarter net income of $85.9 million.
On a per-share basis, the Hilliard, Ohio-based company said it had net income of $1.06.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The maker of water drainage systems and pipes posted revenue of $617.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $571.6 million.
For the year, the company reported profit of $507.1 million, or $6.08 per share. Revenue was reported as $3.07 billion.
Advanced Drainage expects full-year revenue in the range of $2.6 billion to $2.8 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMS at https://www.zacks.com/ap/WMS
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.