Filing Flows › Advanced Drainage Systems (WMS) › Q4 FY26
Advanced Drainage Systems (WMS) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed May 21, 2026
Advanced Drainage Systems (WMS) reported revenue of $677M for the fourth quarter fiscal 2026 (Q4 FY26), +10% from a year earlier and -2% from the quarter before. Operating margin was 7.9%, net earnings $32.9M (4.9% of revenue).
Advanced Drainage Systems, Q4 FY26: revenue $677M (+10% year over year), operating margin 7.9%, net earnings $32.9M, operating cash flow $39.9M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $677M | -2% | +10% |
| Gross profit | $238M | -8% | +5% |
| Operating profit | $53.3M | -61% | -54% |
| Net earnings | $32.9M | -65% | -57% |
| Operating cash flow | $39.9M | -85% | -3% |
What changed
Revenue was $676.8M in Q4 FY26, up 10% year over year and down 2% from the previous quarter.
Gross margin was 35.1%, down 1.6 points from Q4 FY25. Operating profit was $53.3M, a 7.9% margin (down 11.1 points year over year). Operating profit fell $63.6M even though revenue rose $61.0M versus Q4 FY25, so costs grew faster than sales. Operating expenses grew 69% against revenue growth of 10%. Net earnings were $32.9M, down 57% year over year. The effective tax rate was 13.6%.
Operating cash flow was $39.9M (down 3% year over year), 117% of net income including minority interests. Non-cash charges added back $59.8M of depreciation and amortization and $6.5M of share-based compensation. Working capital and other items used $60.6M. Capital expenditures of $53.0M exceeded it, leaving free cash flow of −$13.1M.
Questions
What was Advanced Drainage Systems' revenue in the fourth quarter fiscal 2026?
Advanced Drainage Systems (WMS) reported revenue of $677M for the fourth quarter fiscal 2026 (Q4 FY26), +10% from a year earlier and -2% from the quarter before.
Was Advanced Drainage Systems profitable in the fourth quarter fiscal 2026?
Operating profit was $53.3M (7.9% of revenue) and net earnings $32.9M.