Advanced Drainage Systems Cuts Full-Year Sales Guidance; Shares Fall 13%
The manufacturer cited softer demand amid higher interest rates and geopolitical uncertainty. Its shares fell 13% to $125.15 midday Thursday.
By Natalie WegerShares of Advanced Drainage Systems fell after the manufacturer of pipes and stormwater-management systems cut its full-year sales guidance as it faces softer demand due to higher interest rates and geopolitical uncertainty.The stock slipped 13%, to $125.15, midday Thursday and is d…