ADVANCED DRAINAGE SYSTEMS, INC.

Advanced Drainage Systems, Inc. (NYSE: WMS) is the leading manufacturer of innovative water management solutions in the stormwater and onsite wastewater industries. The company designs, manufactures, and markets a comprehensive line of high-performance thermoplastic corrugated pipe and related water management products serving residential, non-residential, infrastructure, and agricultural applications across North America and internationally. The company website is www.ads-lp.com.

ADS operates through two reportable segments: Stormwater and Wastewater. In fiscal 2026, Stormwater represented 78.6 percent of net sales while Wastewater accounted for 21.4 percent. The Stormwater segment encompasses corrugated polypropylene and polyethylene pipe products, storm chambers, drainage structures, fittings, water quality filters, and complementary products including the recently acquired NDS residential stormwater solutions. The Wastewater segment, operated through wholly-owned subsidiary Infiltrator Water Technologies, includes plastic leachfield chambers, onsite wastewater tanks, advanced treatment systems, and related accessories, along with Orenco Systems acquired in October 2024.

The company maintains an extensive manufacturing and distribution infrastructure with 64 manufacturing plants and 41 distribution centers across North America, including facilities in the United States, Canada, and Mexico. As of March 31, 2026, ADS employed approximately 6,425 people across its operations. The company operates an in-house fleet of approximately 600 tractors and 1,100 specialized trailers supporting its logistics network.

ADS serves approximately 16,000 customers across diverse end markets. Two major customers, Ferguson Enterprises and Core & Main, represented 13.1 percent and 12.8 percent of fiscal 2026 net sales respectively. The company estimates its addressable market opportunity at approximately sixteen billion dollars, comprising a fourteen billion dollar stormwater industry and a two billion dollar onsite wastewater market.

The company's competitive advantages include its national manufacturing footprint, broad product portfolio, established distribution relationships, technical expertise, and commitment to sustainability. ADS is recognized for its trademarked green stripe branding and its industry-leading recycling program, which converts approximately 225 million pounds of post-consumer and post-industrial recycled polyethylene and 140 million pounds of recycled polypropylene annually into products.