$WMS
ADVANCED DRAINAGE SYSTEMS, INC.

2021 Q2 Form 10-Q Financial Statement

#000156459021041569 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $669.3M $508.6M
YoY Change 31.59% 22.95%
Cost Of Revenue $468.2M $320.1M
YoY Change 46.26% -32.74%
Gross Profit $201.1M $188.5M
YoY Change 6.69% -403.26%
Gross Profit Margin 30.05% 37.06%
Selling, General & Admin $76.22M $61.78M
YoY Change 23.38% 6.88%
% of Gross Profit 37.9% 32.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.53M $16.42M
YoY Change 6.75% 20.02%
% of Gross Profit 8.72% 8.71%
Operating Expenses $76.22M $61.78M
YoY Change 23.38% 6.88%
Operating Profit $109.3M $126.7M
YoY Change -13.78% -205.64%
Interest Expense -$7.907M -$10.00M
YoY Change -20.93% 89.97%
% of Operating Profit -7.24% -7.89%
Other Income/Expense, Net $2.014M $567.0K
YoY Change 255.2% 490.63%
Pretax Income $103.4M $97.70M
YoY Change 5.81% -147.54%
Income Tax $26.46M $27.20M
% Of Pretax Income 25.59% 27.84%
Net Earnings $75.99M $70.47M
YoY Change 7.83% -131.13%
Net Earnings / Revenue 11.35% 13.85%
Basic Earnings Per Share $0.89 $0.83
Diluted Earnings Per Share $0.87 $0.83
COMMON SHARES
Basic Shares Outstanding 71.53M shares 69.38M
Diluted Shares Outstanding 73.12M shares 70.13M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $142.8M $235.2M
YoY Change -39.27% 2402.13%
Cash & Equivalents $142.8M $235.2M
Short-Term Investments
Other Short-Term Assets $18.31M $13.10M
YoY Change 39.8% 42.62%
Inventory $330.7M $239.2M
Prepaid Expenses
Receivables $303.7M $241.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $795.6M $729.4M
YoY Change 9.08% 51.75%
LONG-TERM ASSETS
Property, Plant & Equipment $518.2M $477.1M
YoY Change 8.62% 20.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $95.15M $72.90M
YoY Change 30.53% 37.8%
Total Long-Term Assets $1.679B $1.686B
YoY Change -0.39% 186.78%
TOTAL ASSETS
Total Short-Term Assets $795.6M $729.4M
Total Long-Term Assets $1.679B $1.686B
Total Assets $2.475B $2.415B
YoY Change 2.47% 126.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $229.3M $96.70M
YoY Change 137.13% -9.13%
Accrued Expenses $124.1M $105.1M
YoY Change 18.06% 37.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000M $7.963M
YoY Change -12.09% -69.3%
Total Short-Term Liabilities $407.5M $258.9M
YoY Change 57.38% 6.11%
LONG-TERM LIABILITIES
Long-Term Debt $780.6M $1.037B
YoY Change -24.76% 350.41%
Other Long-Term Liabilities $62.48M $40.30M
YoY Change 55.04% 40.71%
Total Long-Term Liabilities $780.6M $1.037B
YoY Change -24.76% 300.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $407.5M $258.9M
Total Long-Term Liabilities $780.6M $1.037B
Total Liabilities $1.463B $1.563B
YoY Change -6.37% 157.01%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.011B $852.2M
YoY Change
Total Liabilities & Shareholders Equity $2.475B $2.415B
YoY Change 2.47% 126.04%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $75.99M $70.47M
YoY Change 7.83% -131.13%
Depreciation, Depletion And Amortization $17.53M $16.42M
YoY Change 6.75% 20.02%
Cash From Operating Activities $104.3M $133.7M
YoY Change -21.97% 112.82%
INVESTING ACTIVITIES
Capital Expenditures $25.55M $10.30M
YoY Change 148.14% 5.88%
Acquisitions $0.00
YoY Change
Other Investing Activities -$53.00K -$435.0K
YoY Change -87.82% -3446.15%
Cash From Investing Activities -$25.49M -$9.860M
YoY Change 158.55% 1.27%
FINANCING ACTIVITIES
Cash Dividend Paid $7.737M
YoY Change -88.89%
Common Stock Issuance & Retirement, Net $204.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$131.3M -62.95M
YoY Change 108.62% 19.6%
NET CHANGE
Cash From Operating Activities $104.3M 133.7M
Cash From Investing Activities -$25.49M -9.860M
Cash From Financing Activities -$131.3M -62.95M
Net Change In Cash -$52.18M 60.98M
YoY Change -185.57% 12985.19%
FREE CASH FLOW
Cash From Operating Activities $104.3M $133.7M
Capital Expenditures $25.55M $10.30M
Free Cash Flow $78.80M $123.4M
YoY Change -36.16% 132.39%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.410
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.011
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.003
CY2021Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
669300000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
508639000
CY2021Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
228208000
CY2020Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
210045000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
34656000
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
35781000
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25546000
CY2020Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10295000
CY2021Q2 us-gaap Gross Profit
GrossProfit
201121000
CY2020Q2 us-gaap Gross Profit
GrossProfit
188503000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17532000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16423000
CY2021Q2 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
9555000
CY2020Q2 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
4939000
CY2020Q2 wms Covid19 Related Expenses
COVID19RelatedExpenses
180000
CY2021Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
228208000
CY2020Q2 wms Adjusted Gross Profit
AdjustedGrossProfit
210045000

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