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Advanced Drainage Systems Inc   (NYSE: WMS)

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Description of Advanced Drainage Systems Inc's Business Segments


Advanced Drainage Systems, Inc. (ADS) is a prominent manufacturer of high-density polyethylene (HDPE) and polypropylene drainage products. The company offers a comprehensive range of products and services that cater to various sectors, including stormwater management, agricultural drainage, wastewater systems, and construction applications. Below is an extensive overview of the different segments, products, and services that ADS provides, as well as insights into its international operations.

Segments and Product Offerings

1. Dual Wall Corrugated Pipe
ADSs N-12 dual wall HDPE pipe is a flagship product characterized by a corrugated exterior for strength and a smooth interior for optimal hydraulic performance. This product competes with traditional concrete pipe in storm sewer and drainage applications. Key details include:
- Diameter and Length Options: Available in 17 different diameters from 2” to 60” and lengths of 10 to 30.
- Joint Integrity: Features integral bell and spigot joints for quick installation.
- Customization: Offered with watertight or soil-tight coupling and fitting systems.

The design benefits of this pipe include ease of installation, job-site handling, and resistance to corrosion and abrasion.

HP Storm Pipe and SaniTite HP Pipe
- HP Storm Pipe: Made from polypropylene resin, the HP Storm pipe offers improved stiffness, environmental stress crack resistance (ESCR), and thermal properties. These characteristics translate to less need for select backfill and greater installation efficiency.
- SaniTite HP Pipe: This product leverages the same advanced materials but integrates a smooth third exterior wall for enhanced hydraulic performance, beneficial in sanitary sewer applications.

Single Wall Corrugated Pipe
Ideal for various drainage solutions, the single wall corrugated HDPE pipe is lightweight and flexible, making it suitable for agricultural, residential, and recreational applications. Key attributes include:
- Diameter Options: Available in diameters from 2” to 24”.
- Length Forms: Smaller diameters are typically available in coils, while larger sizes come in 20’ lengths.
- Customizability: Offered in perforated or non-perforated styles based on drainage needs.

Triple Wall Corrugated Pipe and Smoothwall HDPE Pipe
- Triple Wall Pipe (ADS-3000): Engineered with a corrugated polyethylene core reinforced by two smooth walls, this lightweight pipe enhances strength while reducing shipping costs.
- Smoothwall HDPE Pipe: Available in diameters of 3”, 4”, and 6” for residential drainage applications, this product is effective in septic systems.

Allied Products
ADS enhances its pipe systems with a variety of complementary products that provide comprehensive drainage solutions. This includes regulatory-compliant technologies that meet evolving customer requirements.

Storm and Septic Chambers
Oriented towards stormwater retention and septic treatment, these chambers include:
- StormTech Chambers: Engineered for efficient underground storage solutions that minimize the environmental footprint of construction projects.
- ARC and BioDiffuser Chambers: Designed for on-site septic systems, these chambers minimize costs through efficient design and installation without gravel.

Structures
Nyloplast drainage structures include inline drains, basins, and curb inlets. These products:
- Are fabricated from PVC, offering higher design flexibility and reduced weight compared to concrete options.
- Feature rubber gaskets for watertight connections.

8. Fittings and Couplings
Highly engineered fittings and couplings enhance ADS pipe products, ensuring reliability through soil-tight and water-tight options across various sizes. These components are crucial for effective drainage systems.

9. Water Quality Products
The BaySaver line targets pollutant removal to ensure compliance with environmental regulations during stormwater events. This range assists designers and developers in maintaining adherence to EPA and local standards.

10. Construction Fabrics and Geotextiles
ADS distributes a variety of woven and non-woven geosynthetic products designed for soil stabilization, erosion control, and drainage needs. These materials are vital in construction projects for enhancing soil performance and site viability.

International Operations
ADS has made significant strides in expanding its operations beyond the United States. The company serves international markets by leveraging its manufacturing capabilities and distribution networks. Key operational highlights include:
- Global Reach: ADS products are available in various countries, addressing local drainage and stormwater management needs while adapting to regional regulations.
- Local Partnerships: The company collaborates with local distributors and contractors to ensure its product lines meet specific market demands.
- Sustainability Commitment: As part of its global operations, ADS is focused on environmentally friendly practices, emphasizing products that enhance water management and reduce environmental impact.

Conclusion
Advanced Drainage Systems, Inc. provides a rich portfolio of innovative drainage solutions tailored to diverse market needs. Their extensive range of pipes, allied products, structures, fittings, and water quality systems underscores their commitment to enhancing drainage efficiency and environmental sustainability. Through continued expansion and adaptation in international markets, ADS is positioned as a leader in the drainage industry, fostering a robust infrastructure for managing water resources effectively.


Composition of Advanced Drainage Systems Inc Revenues by Segments

 
International    7.28 % of total Revenue
International - Pipe International    5.11 % of total Revenue
International - Allied Products Other International    2.17 % of total Revenue
InterEliminations    4.62 % of total Revenue
Reportable Aggregation before Other Segment    80.38 % of total Revenue
Reportable Aggregation before Other InterEliminations    -4.13 % of total Revenue
Pipe    48.92 % of total Revenue
Pipe InterEliminations    -1.8 % of total Revenue
Infiltrator    24.18 % of total Revenue
Infiltrator InterEliminations    -2.13 % of total Revenue
International InterEliminations    -0.2 % of total Revenue
Allied Products Other    24.24 % of total Revenue
Allied Products Other InterEliminations    -0.49 % of total Revenue
Reportable Segment    80.38 % of total Revenue

Q3 three months ended (Dec 31 2025)
Revenues by Business Segments Revenues
(in millions $)
%
(of total Revenues)
International 50.48 7.28 %
International - Pipe International 35.45 5.11 %
International - Allied Products Other International 15.03 2.17 %
InterEliminations 32.02 4.62 %
Reportable Aggregation before Other Segment 557.32 80.38 %
Reportable Aggregation before Other InterEliminations -28.64 -4.13 %
Pipe 339.18 48.92 %
Pipe InterEliminations -12.46 -1.8 %
Infiltrator 167.67 24.18 %
Infiltrator InterEliminations -14.79 -2.13 %
International InterEliminations -1.39 -0.2 %
Allied Products Other 168.05 24.24 %
Allied Products Other InterEliminations -3.38 -0.49 %
Reportable Segment 557.32 80.38 %
Total 693.35 100 %




Q3 three months ended (Dec 31 2025)
Revenue Growth rates by Segment Y/Y Revenue
%
Q/Q Revenue
%
International -5.25 % -15.8 %
International - Pipe International -3.94 % -14.8 %
International - Allied Products Other International -8.2 % -18.05 %
InterEliminations 9.1 % -10.06 %
Reportable Aggregation before Other Segment -1.46 % -18.42 %
Reportable Aggregation before Other InterEliminations - -
Pipe -3.71 % -20.53 %
Pipe InterEliminations - -
Infiltrator 4.74 % -14.62 %
Infiltrator InterEliminations - -
International InterEliminations - -
Allied Products Other 8.91 % -17.16 %
Allied Products Other InterEliminations - -
Reportable Segment -1.46 % -18.42 %
Total 0.41 % -18.47 %




Q3 three months ended (Dec 31 2025)
Income by Business Segments Income
(in millions $)
%
(Profit Margin)
Total 94.04 13.56 %




Q3 three months ended (Dec 31 2025)
Income Growth rates by Segment Y/Y Income
%
Q/Q Income
%
Total 14.28 % -39.91 %




Annual Report on Advanced Drainage Systems Inc Divisions, Sales by Country

 
InterEliminations   InterEliminations Segment contribution to total sales -3.21 % of total Revenue
Stormwater   Stormwater Segment contribution to total sales 79.79 % of total Revenue
Stormwater Domestic Pipe   Stormwater Domestic Pipe Segment contribution to total sales 49.03 % of total Revenue
Stormwater Domestic Allied Products   Stormwater Domestic Allied Products Segment contribution to total sales 24.6 % of total Revenue
Stormwater International   Stormwater International Segment contribution to total sales 6.16 % of total Revenue
Wastewater   Wastewater Segment contribution to total sales 23.42 % of total Revenue
InterEliminations Stormwater   InterEliminations Stormwater Segment contribution to total sales 1.2 % of total Revenue
InterEliminations Wastewater   InterEliminations Wastewater Segment contribution to total sales 2.02 % of total Revenue
United States   United States Segment contribution to total sales 93.68 % of total Revenue
Canada   Canada Segment contribution to total sales 3.91 % of total Revenue
Other   Other Segment contribution to total sales 2.41 % of total Revenue


Twelve months ended 2026
WMS s Annual Revenue by Geography and Business Segments Sales
(in millions $)
%
(of total Sales)
InterEliminations -98.05 -3.21 %
Total 3,050.38 100 %
Stormwater 2,433.88 79.79 %
Stormwater Domestic Pipe 1,495.56 49.03 %
Stormwater Domestic Allied Products 750.50 24.6 %
Stormwater International 187.83 6.16 %
Wastewater 714.54 23.42 %
InterEliminations Stormwater 36.47 1.2 %
InterEliminations Wastewater 61.58 2.02 %
United States 2,857.55 93.68 %
Canada 119.27 3.91 %
Other 73.55 2.41 %


Twelve months ended 2026
WMS s Annual Income by Country and Business Segments Income
(in millions $)
%
(Profit Margin)
Total 428.77 14.06 %

Twelve months ended 2026
Annual Revenue and Income Growth by Country and Business Segments % Y/Y Sales Growth % Y/Y Income Growth
InterEliminations - -
Reportable Aggregation before Other Segment - -
Pipe - -
Infiltrator - -
Allied Products Other - -
Total 5.03 % -5.26 %
Stormwater 3.04 % -
Stormwater Domestic Pipe -1.73 % -
Stormwater Domestic Allied Products 16.28 % -
Stormwater International -3.5 % -
Wastewater 13.44 % -
InterEliminations Stormwater 2.3 % -
InterEliminations Wastewater 18.35 % -
Canada -0.19 % -
Other -2.11 % -
Total International - -
Total International International - Pipe - -
Total International International - Allied Products Other - -
InterNet Sales - -
InterNet Sales Reportable Aggregation before Other Segment - -
InterNet Sales Pipe - -
InterNet Sales Infiltrator - -
InterNet Sales Total International - -
InterNet Sales Allied Products Other - -
Total Reportable Segment - -
UNITED STATES - -



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