Page 1

Exhibit 99.1 ADS ADVANCED DRAINAGE SYSTEMS ANNOUNCES FIRST QUARTER FISCAL 2022 _ RESULTS HILLIARD , Ohio ( August 5 , 2021 ) – Advanced Drainage Systems , Inc. ( NYSE : WMS ) ( “ ADS ” or the “ Company ” ) , a leading provider of innovative water management solutions in the stormwater and on - site septic waste water industries today announced financial results for the fiscal first quarter ended June 30 , 2021 . First Quarter Fiscal 2022 Results • Net sales increased 31.6 % to $ 669.3 million • Net income increased 9.1 % to $ 77.1 million • Adjusted EBITDA ( Non - GAAP ) increased 4.5 % to $ 166.6 million • Cash provided by operating activities of $ 104.3 million • Free cash flow ( Non - GAAP ) of $ 78.8 million Scott Barbour , President and Chief Executive Officer of ADS commented , " We achieved a record $ 669 million in sales in the first quarter driven by strong demand across our product portfolio and geographic footprint , particularly in priority states such as Florida , Texas , North Carolina and South Carolina . Overall , the 32 % growth was driven by both ADS and Infiltrator , with favorable pricing slightly outpacing volume growth . " Barbour continued , “ Our favorable demand trends and strong top - line growth were matched with inflationary cost pressure on materials , transportation and labor that proved to be more significant than initially anticipated . Over the near term , we will continue to raise pricing in the marketplace and leverage our productivity improvement initiatives and synergy programs to offset these pressures on a dollar basis . Over the longer term , we remain confident in our ability to continue expanding margins through our traditional profitability levers . " " Importantly , the momentum underpinning the core drivers of our business remain strong . We will continue executing on our material conversion and water management solutions strategies to generate above - market growth . We are also well positioned to capitalize on growing residential development and horizontal construction , and our planned capital investments will increase capacity , support growth , and improve productivity through the end of the fiscal year and beyond . " Barbour concluded , “ Finally , we remain confident in our outlook for the fiscal year as our demand , backlog and pricing remain favorable , giving us confidence in our increased sales targets as well as our Adjusted EBITDA guidance for the year . " First Quarter Fiscal 2022 Results Net sales increased $ 160.7 million , or 31.6 % , to $ 669.3 million , as compared to $ 508.6 million in the prior year . Domestic pipe sales increased $ 100.4 million , or 36.7 % , to $ 374.0 million . Domestic allied products & other sales increased $ 10.1 million , or 8.7 % , to $ 127.0 million . Infiltrator sales increased $ 24.6 million , or 24.1 % , to $ 126.7 million . These increases were driven by double - digit sales growth in both the U.S. construction and agriculture end markets . International sales increased $ 29.5 million , or 82.4 % , to $ 65.4 million , driven by double - digit sales growth in the Canadian , Mexican and Exports businesses . Gross profit increased $ 12.6 million , or 6.7 % , to $ 201.1 million as compared to $ 188.5 million in the prior year . The increase is primarily due an increase in sales volume and pricing on pipe , on - site septic and allied products . These increases were partially offset by inflationary cost pressure on materials , transportation and labor . Adjusted EBITDA ( Non - GAAP ) increased $ 7.1 million , or 4.5 % , to $ 166.6 million , as compared to $ 159.5 million in the prior year . The increase is primarily due to the factors mentioned above . As a percentage of net sales , Adjusted EBITDA was 24.9 % as compared to 31.4 % in the prior year . 1