ADS Has Strong Third Quarter

Advanced Drainage Systems, Inc. (ADS) had net sales of $486.1 million for the third quarter of its fiscal 2021 year, an increase of 23.6 per cent compared to net sales of $393.4 million in the third quarter of its 2020 year. This increase was driven by double-digit sales growth in both the U.S. construction and agriculture end markets. Net income increased 128.4 per cent to $54 million year-over-year while gross profit increased 36.6 per cent to $168.5 million. Adjusted earnings before taxes increased 52.1 per cent to $138.9 million compared to last year.