Advanced Drainage Systems Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Advanced Drainage Systems Inc. (WMS) announced a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $137.027 million, or $1.71 per share. This compares with $153.377 million, or $1.80 per share, in last year's second quarter.

Excluding items, Advanced Drainage Systems Inc. reported adjusted earnings of $1.71 per share for the period.

Analysts on average had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.8% to $780.220 million from $884.209 million last year.

Advanced Drainage Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $137.027 Mln. vs. $153.377 Mln. last year. -EPS (Q2): $1.71 vs. $1.80 last year. -Analyst Estimates: $1.64 -Revenue (Q2): $780.220 Mln vs. $884.209 Mln last year.

-Guidance: Full year revenue guidance: $2.700 to $2.800 Bln