Advanced Drainage Systems (NYSE:WMS) Q4 2021 Earnings Conference Call May 19, 2022 10:00 AM ET
Corporate Participants
Mike Higgins - Vice President Corporate Strategy and Investor Relations
Scott Barbour - President and Chief Executive Officer
Scott Cottrill - Chief Financial Officer
Conference Call Participants
Josh Pokrzywinski – Morgan Stanley
Mike Halloran - Baird
Garik Shmois - Loop Capital
Matthew Bouley - Barclays
Operator
Good morning, ladies and gentlemen. And welcome to Advanced Drainage Systems, Fourth Quarter and Fiscal Year 2022 Results Conference Call. My name is Rizwan and I will be 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, and good morning, everyone. Thanks for joining us for our call today. With me 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 said, I will turn the call over to Scott Barbour.
Scott Barbour
Thanks, Mike, and good morning everyone. Thank you for joining us on today's call.
Fiscal 2022 played out largely as we communicated in February, with profit improvement occurring in the back half of the year due to multiple actions we took over the course of the year to improve pricing and operations. We closed out fiscal 2022 with a record 2.8 billion in revenue and 676 million in adjusted EBITDA, up 40% and 90% respectively. Our adjusted EBITDA margin was 24.4% coming in at the high-end of our guidance range. This fiscal year, we successfully managed through a number of challenges, including significant inflationary cost pressures, labor shortages in two ways of COVID. Despite material shortages early in the year, and persistent labor challenges, we were able to increase production and improve inventory levels to better service our customers, all while improving the safety within our facilities by double-digit rates.