Advanced Drainage Systems, Inc. (NYSE:WMS) Q1 2023 Earnings Conference Call August 4, 2022 10:00 AM ET

Company Participants

Mike Higgins - Vice President-Corporate Strategy & Investor Relations

Scott Barbour - President & Chief Executive Officer

Scott Cottrill - Chief Financial Officer

Conference Call Participants

Matthew Bouley - Barclays

Michael Halloran - Baird

Josh Pokrzywinski - Morgan Stanley

Spencer Kaufman - UBS

Operator

Good morning, ladies and gentlemen. And welcome to Advanced Drainage Systems, First Quarter Fiscal 2023 Results Conference Call. My name is Brika, and I am your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions]

I would now like to turn the presentation over to your host for today's call, Mr. Mike Higgins, Vice President of Corporate Strategy and Investor Relations. Sir, you may begin.

Mike Higgins

Thank you. Good morning, everyone. Thanks for joining us for our call today. With me today I have, Scott Barbour, our President and CEO, and Scott Cottrill, our CFO. I would also like to remind you that we will discuss forward-looking statements. Actual results may differ materially from those forward-looking statements because of various factors, including those discussed in our press release and the risk factors identified in our Form 10-K filed with the SEC. While we may update forward-looking statements in the future, we disclaim any obligation to do so. You should not place undue reliance on these forward-looking statements, all of which speak only as of today.

Lastly, the press release we issued earlier this morning is posted on the Investor Relations section of our website. A copy of the release has also been included in an 8-K submitted to the SEC. We will make a replay of this conference call available via webcast on the company website.

With that, I will turn the call over to Scott Barbour.

Scott Barbour

Thank you, Mike and good morning. Thank you for joining us on today's call. We achieved a record $914 million in sales in the first quarter, an increase of 37% compared to the same period last year. Sales growth was primarily driven by strong demand across our geographies and construction end markets, supported by continued strength in our priority states.

We saw attractive volume growth in Allied Products, Infiltrator and within our residential end market, driven by share gains from our storm sewer pipe and on-site septic products. Pipe volume in our nonresidential and agriculture end markets started slower than anticipated due to a wet spring for agriculture, job site delays, production limitations and difficult comps relative to the last year.