Filing Flows › Advanced Drainage Systems (WMS) › Q2 FY27
Advanced Drainage Systems (WMS) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Nov 5, 2026
Advanced Drainage Systems (WMS) reported revenue of $889M for the second quarter fiscal 2027 (Q2 FY27), +5% from a year earlier and -11% from the quarter before. Operating margin was 21.9%, net earnings $110M (12.4% of revenue).
Advanced Drainage Systems, Q2 FY27: revenue $889M (+5% year over year), operating margin 21.9%, net earnings $110M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $889M | -11% | +5% |
| Gross profit | $346M | -15% | +2% |
| Operating profit | $195M | -23% | -13% |
| Net earnings | $110M | -34% | -29% |
What changed
Revenue was $889.4M in Q2 FY27, up 5% year over year and down 11% from the previous quarter. Stormwater was the largest line at 80% of revenue. Stormwater added $41.4M year over year (up 6%), 106% of the total change. Wastewater declined 1%.
Gross margin was 38.9%, down 1.1 points from Q2 FY26. Operating profit was $194.9M, a 21.9% margin (down 4.3 points year over year). Operating profit fell $28.4M even though revenue rose $39.0M versus Q2 FY26, so costs grew faster than sales. Operating expenses grew 29% against revenue growth of 5%. Net earnings were $110.4M, down 29% year over year. The effective tax rate was 28.6%.
Questions
What was Advanced Drainage Systems' revenue in the second quarter fiscal 2027?
Advanced Drainage Systems (WMS) reported revenue of $889M for the second quarter fiscal 2027 (Q2 FY27), +5% from a year earlier and -11% from the quarter before.
Was Advanced Drainage Systems profitable in the second quarter fiscal 2027?
Operating profit was $195M (21.9% of revenue) and net earnings $110M.