$WMS
ADVANCED DRAINAGE SYSTEMS, INC.

2020 Q2 Form 10-Q Financial Statement

#000156459020037745 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $508.6M $413.7M
YoY Change 22.95% 6.67%
Cost Of Revenue $320.1M $475.9M
YoY Change -32.74% 65.15%
Gross Profit $188.5M -$62.16M
YoY Change -403.26% -162.35%
Gross Profit Margin 37.06% -15.02%
Selling, General & Admin $61.78M $57.80M
YoY Change 6.88% 26.9%
% of Gross Profit 32.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.42M $13.68M
YoY Change 20.02% -23.12%
% of Gross Profit 8.71%
Operating Expenses $61.78M $57.80M
YoY Change 6.88% 26.9%
Operating Profit $126.7M -$120.0M
YoY Change -205.64% -334.95%
Interest Expense -$10.00M -$5.264M
YoY Change 89.97% 38.45%
% of Operating Profit -7.89%
Other Income/Expense, Net $567.0K $96.00K
YoY Change 490.63% -88.21%
Pretax Income $97.70M -$205.5M
YoY Change -147.54% -527.55%
Income Tax $27.20M $22.37M
% Of Pretax Income 27.84%
Net Earnings $70.47M -$226.4M
YoY Change -131.13% -801.23%
Net Earnings / Revenue 13.85% -54.71%
Basic Earnings Per Share $0.83 -$4.06
Diluted Earnings Per Share $0.83 -$4.06
COMMON SHARES
Basic Shares Outstanding 69.38M 57.58M
Diluted Shares Outstanding 70.13M 57.58M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $235.2M $9.400M
YoY Change 2402.13% -48.91%
Cash & Equivalents $235.2M $9.357M
Short-Term Investments
Other Short-Term Assets $13.10M $9.185M
YoY Change 42.62% 5.57%
Inventory $239.2M $230.3M
Prepaid Expenses
Receivables $241.8M $231.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $729.4M $480.7M
YoY Change 51.75% -7.17%
LONG-TERM ASSETS
Property, Plant & Equipment $477.1M $396.3M
YoY Change 20.39% 1.17%
Goodwill $102.8M
YoY Change
Intangibles $35.73M
YoY Change
Long-Term Investments $10.89M
YoY Change -1.24%
Other Assets $72.90M $52.90M
YoY Change 37.8% 46.14%
Total Long-Term Assets $1.686B $587.8M
YoY Change 186.78% 2.56%
TOTAL ASSETS
Total Short-Term Assets $729.4M $480.7M
Total Long-Term Assets $1.686B $587.8M
Total Assets $2.415B $1.068B
YoY Change 126.04% -2.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.70M $106.4M
YoY Change -9.13% 3.41%
Accrued Expenses $105.1M $76.30M
YoY Change 37.75% 15.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.963M $25.94M
YoY Change -69.3% -46.41%
Total Short-Term Liabilities $258.9M $244.0M
YoY Change 6.11% 4.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.037B $230.3M
YoY Change 350.41% -17.31%
Other Long-Term Liabilities $40.30M $28.64M
YoY Change 40.71% 24.8%
Total Long-Term Liabilities $1.037B $259.0M
YoY Change 300.6% -14.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $258.9M $244.0M
Total Long-Term Liabilities $1.037B $259.0M
Total Liabilities $1.563B $608.1M
YoY Change 157.01% -2.91%
SHAREHOLDERS EQUITY
Retained Earnings -$278.7M
YoY Change 2227.38%
Common Stock $512.5M
YoY Change 32.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.16M
YoY Change 12.5%
Treasury Stock Shares
Shareholders Equity $852.2M $199.1M
YoY Change
Total Liabilities & Shareholders Equity $2.415B $1.068B
YoY Change 126.04% -2.06%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $70.47M -$226.4M
YoY Change -131.13% -801.23%
Depreciation, Depletion And Amortization $16.42M $13.68M
YoY Change 20.02% -23.12%
Cash From Operating Activities $133.7M $62.84M
YoY Change 112.82% 539.2%
INVESTING ACTIVITIES
Capital Expenditures $10.30M $9.723M
YoY Change 5.88% 41.45%
Acquisitions
YoY Change
Other Investing Activities -$435.0K $13.00K
YoY Change -3446.15% -88.07%
Cash From Investing Activities -$9.860M -$9.736M
YoY Change 1.27% 39.42%
FINANCING ACTIVITIES
Cash Dividend Paid $7.737M $69.64M
YoY Change -88.89% 1034.03%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -62.95M -52.63M
YoY Change 19.6% 3193.68%
NET CHANGE
Cash From Operating Activities 133.7M 62.84M
Cash From Investing Activities -9.860M -9.736M
Cash From Financing Activities -62.95M -52.63M
Net Change In Cash 60.98M 466.0K
YoY Change 12985.19% -62.72%
FREE CASH FLOW
Cash From Operating Activities $133.7M $62.84M
Capital Expenditures $10.30M $9.723M
Free Cash Flow $123.4M $53.12M
YoY Change 132.39% 1696.31%

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CY2020Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
1366000
CY2019Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
6841000
CY2020Q2 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
2000
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15161000
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10806000
CY2019Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.09
CY2019Q2 us-gaap Dividends
Dividends
81600000
CY2020Q2 us-gaap Undistributed Earnings
UndistributedEarnings
69098000
CY2019Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-233525000
CY2020Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
11242000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
57856000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-233525000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69380000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57576000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.06
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
57856000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-233525000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69380000
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
1047754000
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
1099742000
CY2020Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2321000
CY2020Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2419000
CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
7963000
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
7955000
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1037470000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1089368000
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.278
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.109
CY2019Q2 wms Discrete Income Tax Expense Benefit
DiscreteIncomeTaxExpenseBenefit
60700000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5599000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1841000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5599000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1841000
CY2020Q2 us-gaap Share Price
SharePrice
41.97
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.355
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.009
CY2020Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
508639000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
413708000
CY2020Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
210045000
CY2019Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
123907000
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
35781000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
16694000
CY2020Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10295000
CY2019Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9723000
CY2020Q2 us-gaap Gross Profit
GrossProfit
188503000
CY2019Q2 us-gaap Gross Profit
GrossProfit
-62158000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16423000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13684000
CY2020Q2 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
4939000
CY2019Q2 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
3771000
CY2019Q2 us-gaap Employee Stock Ownership Plan Esop Dividends Paid To Esop
EmployeeStockOwnershipPlanESOPDividendsPaidToESOP
168610000
CY2020Q2 wms Covid19 Related Expenses
COVID19RelatedExpenses
180000
CY2020Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
210045000
CY2019Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
123907000

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