Advanced Drainage Systems Inc. (NYSE: WMS) shares plunged in pre-market trading on Wednesday, following the company's disappointing second-quarter fiscal 2025 earnings results and lowered full-year guidance.
The manufacturer of water drainage systems and pipes reported adjusted earnings per share of $1.70 for the quarter, missing analysts' expectations of $1.90 per share. While revenue was up slightly from the prior year at $782.61 million, it missed estimates of $822.35 million.
Additionally, the company lowered its full-year revenue guidance for fiscal 2025 to a range of $2.9 billion to $2.975 billion, below the previous consensus estimate of $2.99 billion. Management cited ongoing macroeconomic challenges and uncertainty for the revised outlook.
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