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NEWS RELEASE Advanced Drainage Systems Announces Second Quarter Fiscal 2022 Results 11/4/2021 ADS HILLIARD , Ohio -- ( BUSINESS WIRE ) -- 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 second quarter ended September 30 , 2021 . Second Quarter Fiscal 2022 Results • Net sales increased 29.8 % to $ 706.5 million • Net income decreased 5.3 % to $ 76.3 million Adjusted EBITDA ( Non - GAAP ) decreased 5.3 % to $ 164.8 million Year - to - Date Fiscal 2022 Results ● • Net sales increased 30.7 % to $ 1,375.8 million • Net income increased 1.4 % to $ 153.4 million ● Adjusted EBITDA ( Non - GAAP ) decreased 0.6 % to $ 331.4 million • Cash provided by operating activities of $ 94.9 million Free cash flow ( Non - GAAP ) of $ 31.1 million ● Scott Barbour , President and Chief Executive Officer of ADS commented , " We achieved another quarter of record revenue results in the second quarter of fiscal 2022. Sales growth of 30 % was driven by favorable pricing at both ADS and Infiltrator , as we capitalized on strong demand across our product portfolio and geographic footprint , particularly in priority states such as Florida , Texas and Georgia . Our leading indicators support continued strength in demand for the foreseeable future as we work through our record high levels of backlog . " 1