Advanced Drainage Systems, Inc. (NYSE:WMS) Q3 2023 Earnings Call Transcript

Scott Barbour: Yes. I think the 10% plus CAGR is still on the table. I wouldn’t say that it’s off. Obviously, as we’ve talked about our comments related to calendar €˜23, you have to remember our fiscal year begins on April 1. So when we see kind of this trend through Q4 which takes us through March, we see certain of those trends continuing at least through kind of our first and second quarter, which takes us all the way to the end of September. So that’s kind of how we look at it, how we think about it, which takes us kind of to most of the way through calendar €˜23. Again, it goes back to the breadth and depth of this lower demand environment that we’re in. It depends on your forecast and how you currently view that. Our view is that it’s going to continue, like we said, through kind of those first two quarters and potentially a little bit longer, but that you’ll start seeing kind of a recovery as you get toward that back end of calendar €˜23.

At least that’s the way we’re currently looking at it today.

Spencer Kaufman: Okay, thanks guys. Good luck going forward.

Scott Barbour: Thanks, very much.

Operator: Thank you. There are no additional questions waiting at this time. So I’d like to hand the conference over to Scott Barbour for any closing remarks. Please go ahead.

Scott Barbour: All right. Thank you. And we certainly appreciate all the good questions today and your participation in the call. We look forward to catching up with you as we move on into the latter meetings today and at the upcoming conferences. So thank you.

Operator: This concludes today’s conference call. Thank you all for your participation. You may now disconnect your lines.