$WMS
ADVANCED DRAINAGE SYSTEMS, INC.

2020 Q3 Form 10-Q Financial Statement

#000156459020051293 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $544.2M $495.9M
YoY Change 9.74% 21.98%
Cost Of Revenue $338.3M $349.4M
YoY Change -3.18% 12.28%
Gross Profit $205.9M $146.5M
YoY Change 40.49% 53.63%
Gross Profit Margin 37.83% 29.55%
Selling, General & Admin $65.70M $78.00M
YoY Change -15.77% 68.41%
% of Gross Profit 31.92% 53.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.46M $15.71M
YoY Change 4.81% 9.43%
% of Gross Profit 8.0% 10.72%
Operating Expenses $83.70M $78.00M
YoY Change 7.31% 68.41%
Operating Profit $121.6M $57.22M
YoY Change 112.47% 22.4%
Interest Expense -$9.360M -$52.33M
YoY Change -82.11% 1054.98%
% of Operating Profit -7.7% -91.46%
Other Income/Expense, Net $151.0K -$175.0K
YoY Change -186.29% 86.17%
Pretax Income $112.4M $4.712M
YoY Change 2284.66% -88.81%
Income Tax $31.83M -$3.547M
% Of Pretax Income 28.32% -75.28%
Net Earnings $80.24M $7.589M
YoY Change 957.27% -73.53%
Net Earnings / Revenue 14.74% 1.53%
Basic Earnings Per Share $0.95 $0.10
Diluted Earnings Per Share $0.93 $0.10
COMMON SHARES
Basic Shares Outstanding 69.84M shares 60.22M
Diluted Shares Outstanding 70.76M shares 60.88M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.9M $54.20M
YoY Change 276.2% 207.95%
Cash & Equivalents $203.9M $54.21M
Short-Term Investments
Other Short-Term Assets $13.20M $10.63M
YoY Change 24.19% 47.63%
Inventory $223.3M $248.9M
Prepaid Expenses
Receivables $260.2M $250.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $700.6M $564.2M
YoY Change 24.17% 10.85%
LONG-TERM ASSETS
Property, Plant & Equipment $481.9M $492.0M
YoY Change -2.06% 22.33%
Goodwill $669.8M
YoY Change
Intangibles $501.6M
YoY Change
Long-Term Investments
YoY Change
Other Assets $72.80M $67.76M
YoY Change 7.44% 72.41%
Total Long-Term Assets $1.673B $1.731B
YoY Change -3.37% 195.81%
TOTAL ASSETS
Total Short-Term Assets $700.6M $564.2M
Total Long-Term Assets $1.673B $1.731B
Total Assets $2.373B $2.295B
YoY Change 3.4% 109.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $114.0M $111.5M
YoY Change 2.29% 16.21%
Accrued Expenses $119.1M $98.00M
YoY Change 21.53% 50.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000M $6.195M
YoY Change 12.99% -87.46%
Total Short-Term Liabilities $282.5M $241.3M
YoY Change 17.05% 9.31%
LONG-TERM LIABILITIES
Long-Term Debt $885.5M $1.043B
YoY Change -15.11% 231.37%
Other Long-Term Liabilities $40.60M $37.02M
YoY Change 9.68% 49.87%
Total Long-Term Liabilities $885.5M $1.080B
YoY Change -18.02% 218.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $282.5M $241.3M
Total Long-Term Liabilities $885.5M $1.080B
Total Liabilities $1.431B $1.532B
YoY Change -6.63% 146.44%
SHAREHOLDERS EQUITY
Retained Earnings -$277.7M
YoY Change
Common Stock $812.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.16M
YoY Change
Treasury Stock Shares
Shareholders Equity $942.6M $498.2M
YoY Change
Total Liabilities & Shareholders Equity $2.373B $2.295B
YoY Change 3.4% 109.77%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $80.24M $7.589M
YoY Change 957.27% -73.53%
Depreciation, Depletion And Amortization $16.46M $15.71M
YoY Change 4.81% 9.43%
Cash From Operating Activities $152.5M $108.9M
YoY Change 40.04% 125.0%
INVESTING ACTIVITIES
Capital Expenditures $18.66M $15.90M
YoY Change 17.39% 27.96%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$1.089B
YoY Change -100.01% -217840.0%
Cash From Investing Activities -$18.60M -$1.105B
YoY Change -98.32% 9183.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $300.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -164.9M 1.041B
YoY Change -115.85% -2875.2%
NET CHANGE
Cash From Operating Activities 152.5M 108.9M
Cash From Investing Activities -18.60M -1.105B
Cash From Financing Activities -164.9M 1.041B
Net Change In Cash -31.00M 44.90M
YoY Change -169.04% -4590.0%
FREE CASH FLOW
Cash From Operating Activities $152.5M $108.9M
Capital Expenditures $18.66M $15.90M
Free Cash Flow $133.8M $93.00M
YoY Change 43.91% 158.52%

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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13269000
CY2019Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.09
CY2019Q2 us-gaap Dividends
Dividends
81600000
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
894750000
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1099742000
CY2020Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2222000
CY2020Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2419000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
7000000
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
7955000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
885528000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1089368000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3171000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11095000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5012000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5496000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3171000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11095000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5012000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5496000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.283
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.753
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.281
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.094
wms Discrete Income Tax Expense Benefit
DiscreteIncomeTaxExpenseBenefit
60700000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
544187000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1052826000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
909613000
CY2020Q3 wms Adjusted Gross Profit
AdjustedGrossProfit
228935000
CY2019Q3 wms Adjusted Gross Profit
AdjustedGrossProfit
171874000
wms Adjusted Gross Profit
AdjustedGrossProfit
438980000
wms Adjusted Gross Profit
AdjustedGrossProfit
295781000
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
35778000
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
26566000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
71559000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
43260000
CY2020Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18664000
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15899000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28959000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25622000
CY2020Q3 us-gaap Gross Profit
GrossProfit
205857000
CY2019Q3 us-gaap Gross Profit
GrossProfit
146524000
us-gaap Gross Profit
GrossProfit
394360000
us-gaap Gross Profit
GrossProfit
84366000
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16463000
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15708000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
32886000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29392000
CY2020Q3 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
6598000
CY2019Q3 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
3869000
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
11537000
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
7640000
us-gaap Employee Stock Ownership Plan Esop Dividends Paid To Esop
EmployeeStockOwnershipPlanESOPDividendsPaidToESOP
168610000
CY2020Q3 wms Covid19 Related Expenses
COVID19RelatedExpenses
17000
wms Covid19 Related Expenses
COVID19RelatedExpenses
197000
CY2020Q3 wms Adjusted Gross Profit
AdjustedGrossProfit
228935000
CY2019Q3 wms Adjusted Gross Profit
AdjustedGrossProfit
171874000
wms Adjusted Gross Profit
AdjustedGrossProfit
438980000
wms Adjusted Gross Profit
AdjustedGrossProfit
295781000

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