Advanced Drainage Systems (WMS) reported fiscal Q2 adjusted earnings Friday of $1.70 per diluted share, down from $1.71 a year earlier.

Analysts polled by Capital IQ expected $1.89.

Net sales for the quarter ended Sept. 30 were $782.6 million, up from $780.2 million a year earlier.

Analysts polled by Capital IQ expected $819.4 million.

The company now expects fiscal 2025 sales of $2.9 billion to $2.98 billion, lowering the prior guidance of $2.93 billion to $3.03 billion. Analysts surveyed by Capital IQ expect $2.98 billion.

Shares of the company were down more than 9% in recent Friday premarket activity.

Price: 144.35, Change: -14.65, Percent Change: -9.21