Core Viewpoint - Western Metallica Resources Corp. has amended its bridge financing to increase the amount to up to CDN$300,000, with CDN$230,000 already drawn down [1] Financing Details - The Amended Bridge Loan is classified as a "related party transaction" under MI 61-101, as the lender is a related party [2] - The company is relying on exemptions from valuation and minority shareholder approval requirements under MI 61-101 [2] Company Obligations - The company is expected to require additional financing to meet its obligations as they become due [3] Management Changes - Mr. Paul Pearson has resigned from the Board of Directors [4] Company Overview - Western Metallica is an Ontario registered company focused on mineral resource exploration and development, holding options for various projects including the Caña Brava copper-molybdenum project in Peru and the Nueva Celti Copper Property in Spain [5]

Core Insights - Western Metallica Resources Corp. has reported positive results from its inaugural scout drilling program at the Luz Maria copper-molybdenum target, indicating the potential for a significant porphyry-style deposit in Northern Peru [1][2] Drilling Program Overview - The initial drilling program consisted of three holes totaling 1,056.25 meters, confirming homogeneous copper and molybdenum grades throughout the drill sites [1][5] - The drill holes LM24DD001, LM24DD002, and LM24DD003 showed a transition from disseminated pyrrhotite to a stockwork of sulfide veinlets, suggesting an eastward vector towards a hotter center of the porphyry system [1][5] - The program tested only about 5% of the Luz Maria anomaly, with the longest alteration footprint measuring 2.7 kilometers [5] Geological Findings - The drill holes intersected strongly altered intrusive rocks with well-developed alteration assemblages typical of Andean porphyry systems, including potassic, phyllic, and sodic alterations [5][7] - The mineralization observed included chalcopyrite and molybdenite disseminations, with the best result being 1.8 meters at 0.2% Cu [5][7] - The increasing pyrrhotite content and stronger magnetic and chargeability signatures at depth support the geological interpretation of targeting hotter zones closer to the porphyry source [5][7] Future Exploration Plans - The company plans to continue exploring other identified targets, including Caña Brava 1, which features a 1.5 km by 1.5 km phyllic alteration anomaly with surface copper grades up to 0.4% [7] - The exploration work has defined a 10-kilometer unexplored structural corridor of porphyry-related targets, with Luz Maria being the first to be drill tested [2][7] Project Background - The Caña Brava Project is a 5,700-hectare area located in Northern Peru, strategically positioned near industrial ports and major roads, enhancing its scalability potential [12][13] - The project is situated within an under-explored sector of the Cu-Mo metallogenic belt, which hosts several world-class deposits [12][13]

Financial Data and Key Metrics Changes - Net sales increased by 4% to $691 million, driven by the acquisition of Orenco and positive demand in domestic construction markets, marking the fifth consecutive quarter of volume growth [7][11] - Adjusted EBITDA decreased by 6% year-over-year to $191 million, with favorable volume offset by price cost pressures [26] - Free cash flow generated year-to-date was $374 million, down from $564 million in the prior year, with capital spending increasing by 22% year-over-year to $166 million [29][30] Business Line Data and Key Metrics Changes - Sales in the non-residential market increased by 7%, accounting for approximately 45% of total sales, while residential market sales rose by 9%, representing about 35% of total revenue [8][10] - Infiltrator's organic revenue grew by 6%, driven by double-digit growth in tanks and advanced treatment products [11] - Infrastructure market sales declined by 6% due to tough comparisons, with this segment historically representing about 7% of overall revenue [11][12] Market Data and Key Metrics Changes - Strong demand was noted in the South and Southeastern United States, particularly in Florida, Texas, and Georgia, prompting an expansion of the ADS recycling facility in Cordele, Georgia [9][10] - Concerns about stormwater management have increased, with 60% of Americans expressing concern about their community's stormwater infrastructure, up from 51% in 2023 [15][16] Company Strategy and Development Direction - The company is focused on expanding its operations in stormwater management and enhancing its product portfolio, including the launch of a new stormwater treatment solution [13][16] - The acquisition of Orenco is seen as a strategic fit to enhance the product offering in decentralized wastewater treatment, aiming to establish a leadership position in a fragmented market [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment remains fluid, with varying performance across different geographies and market segments [56][60] - The company expects to maintain its fiscal 2025 revenue and adjusted EBITDA guidance, despite challenges posed by weather and market conditions [32][36] Other Important Information - The company plans to hold its 2025 Investor Day on June 26 in Hilliard, Ohio, showcasing its new engineering and technology center [24] - The company has consolidated one pipe manufacturing plant and two distribution yards to optimize operations and reduce costs [27][90] Q&A Session Summary Question: Insights on fourth quarter guidance and EBITDA range - Management indicated that the fourth quarter guidance reflects a tough comparison to the previous year, with stable pricing and material costs contributing to confidence in achieving results [35][37] Question: Non-residential market performance - Management highlighted strong geographic focus in the South and Southeast, contributing to share gains and improved performance in the non-residential market [41][42] Question: Pricing and cost dynamics - Management confirmed that pricing remains stable sequentially, with material costs flattening out, but year-over-year comparisons will still reflect previous trends [51][52] Question: Infrastructure market declines - Management attributed declines in the infrastructure market to timing and tough comparisons from the previous year, with confidence in the stability of IIJA funding for roads and highways [106][108] Question: Orenco's profitability outlook - Management expressed optimism about Orenco's potential to improve profitability over time, with expectations of moving from mid-teens to above 20% margins [116][117]

Financial Performance - Net sales for the three months ended December 31, 2024, were $690.5 million, an increase of 4.1% compared to $662.4 million for the same period in 2023[12]. - Net income attributable to ADS for the three months ended December 31, 2024, was $81.2 million, a decrease of 23.1% from $105.6 million in the same period last year[12]. - Net income for the nine months ended December 31, 2024, was $375,785, a decrease of 10% compared to $417,812 in 2023[17]. - The company reported a basic net income per share of $1.05 for the three months ended December 31, 2024, compared to $1.36 for the same period in 2023[12]. - The net income for the period was $373.0 million, representing a significant increase compared to previous periods[24]. - Consolidated net sales for the nine months ended December 31, 2024, increased by $67.9 million, or 3.1%, compared to the same period in fiscal 2023, driven by demand in residential and infrastructure end markets[94]. - Year-to-date net sales increased by 3.1% to $2,288.5 million, while net income decreased by 10.1% to $375.8 million[79]. Profitability - Gross profit for the nine months ended December 31, 2024, was $868.0 million, down 2.8% from $894.0 million in the prior year[12]. - Comprehensive income for the three months ended December 31, 2024, was $74.1 million, down from $110.9 million in the same period last year[14]. - Gross profit decreased by $26.0 million, or 2.9%, to $867.989 million for the nine months ended December 31, 2024, primarily due to unfavorable pricing and material costs in the Domestic Pipe segment[96][97]. - Adjusted EBITDA decreased by $12.7 million, or 6.2%, to $191.5 million, with a margin of 27.7% compared to 30.8% in the prior year[77]. Assets and Liabilities - Total assets increased to $3.6 billion as of December 31, 2024, compared to $3.3 billion as of March 31, 2024[10]. - Current liabilities decreased to $388.1 million from $439.6 million in the previous quarter[10]. - Long-term debt obligations remained stable at approximately $1.3 billion, with a slight decrease from $1.26 billion in the previous quarter[10]. - The company’s total debt, including the Term Loan Facility and Senior Notes, is approximately $1.272 billion as of December 31, 2024[48]. - Total debt as of December 31, 2024, was $1.409 billion, with a leverage ratio of 1.0[111]. Cash Flow - Net cash provided by operating activities decreased to $540,264, down 23% from $700,262 in the previous year[17]. - Free cash flow for the nine months ended December 31, 2024, was $373.854 million, down from $563.877 million in the same period of 2023[110]. - Cash flows from operating activities decreased by $160.0 million to $540.264 million, primarily due to a reduction in net income and changes in working capital[115]. - Cash and restricted cash at the end of the period was $494,753, a decrease from $566,346 at the end of the previous year[17]. Capital Expenditures - Capital expenditures increased to $166,410, compared to $136,385 in the same period last year, reflecting a 22% rise[17]. - Capital expenditures for the nine months ended December 31, 2024, totaled $166.4 million, with anticipated capital expenditures of approximately $225 million for fiscal year 2025[117][118]. Acquisitions - The acquisition of Orenco Systems, Inc. was completed for a preliminary fair value of $237.3 million, funded from cash on hand[33]. - The preliminary goodwill from the acquisition of Orenco is $104.0 million, attributed to expected operating efficiencies[35]. - The identifiable intangible assets from the Orenco acquisition are valued at $148.0 million, including customer relationships and developed technology[37]. - The company incurred $7.5 million in transaction costs related to the Orenco acquisition, included in selling, general and administrative expenses[36]. Market Risks - The company continues to face risks related to raw material costs and competition in existing markets, which may impact future performance[8]. - The company is exposed to various market risks, including interest rates, credit, raw material supply prices, and foreign currency exchange rates, which may negatively impact financial position and cash flows[122]. - The company remains in compliance with its debt covenants as of December 31, 2024[120]. Taxation - The company’s effective tax rate for the three months ended December 31, 2024, was 25.0%, an increase from 22.2% for the same period in 2023[56]. - The effective tax rate for the nine months ended December 31, 2024, was 24.0%, slightly down from 24.3% in the previous year[101]. Segment Performance - Segment Adjusted Gross Profit for the Pipe segment for the three months ended December 31, 2024, was $90,900,000, down from $115,621,000 in 2023, a decline of 21.4%[64]. - The Infiltrator segment reported a Segment Adjusted Gross Profit of $78,285,000 for the three months ended December 31, 2024, compared to $68,392,000 in 2023, an increase of 14.0%[64]. Stockholder Returns - The company declared common stock dividends of $0.48 per share, totaling $37.3 million[24]. - The company declared a quarterly cash dividend of $0.16 per share of common stock, payable on March 14, 2025[68].

//ADS. Adjusted EBITDA Margin (310) bps 30.8% 27.7% Q3 FY25 Q3 FY24 Q3 Fiscal 2025 Financial Results February 6, 2025 2 3 CEO Highlights Q3 Fiscal 2025 Revenue Sales (1%) $558 $555 +30% SHO4 S135 ADS Legacy Q3 FY24 ■Q3 FY25 Q3 Fiscal 2025 Profitability Business Updates Revenue is based on net sales to external customers. See appendix for reconciliation. · Construction market volume and pricing overall in line with expectations. · Fifth consecutive quarter of volume growth in construction end markets. · Infi ...

Core Viewpoint - Advanced Drainage Systems reported quarterly earnings of $1.09 per share, missing the Zacks Consensus Estimate of $1.17 per share, and down from $1.37 per share a year ago [1][2] Financial Performance - The company posted revenues of $690.54 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.40%, compared to $662.37 million in the same quarter last year [3] - The earnings surprise for the quarter was -6.84%, and the company has surpassed consensus EPS estimates two times over the last four quarters [2][3] Stock Performance - Advanced Drainage shares have increased by approximately 0.4% since the beginning of the year, while the S&P 500 has gained 3.1% [4] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.16 on revenues of $675 million, and for the current fiscal year, it is $6.12 on revenues of $2.96 billion [8] - The estimate revisions trend for Advanced Drainage is mixed, which could change following the recent earnings report [7] Industry Context - The Building Products - Miscellaneous industry, to which Advanced Drainage belongs, is currently in the top 34% of over 250 Zacks industries, indicating a favorable outlook [9]

Financial Performance - Net sales increased by $28.2 million, or 4.3%, to $690.5 million compared to $662.4 million in the prior year quarter[3] - Infiltrator sales increased by $31.4 million, or 30.3%, to $135.3 million, with organic revenue growth of 5.8% excluding the acquisition of Orenco[3] - Year-to-date net sales increased by $67.9 million, or 3.1%, to $2.3 billion, with Infiltrator sales up by $51.1 million, or 14.9%[7] - Net sales for the three months ended December 31, 2024, increased to $690,538,000, up 4.0% from $662,367,000 in the same period of 2023[23] Income and Earnings - Net income decreased by $24.6 million, or 23.0%, to $82.3 million, with diluted earnings per share decreasing by $0.30, or 22.3%, to $1.04[4] - Net income attributable to ADS for the three months ended December 31, 2024, was $81,231,000, down 23.1% from $105,639,000 in the prior year[23] - The company reported a decrease in net income for the nine months ended December 31, 2024, to $375,785,000, down 10.1% from $417,812,000 in 2023[27] - Diluted Earnings Per Share for Q3 2024 was $1.04, a decrease of 22.4% from $1.34 in Q3 2023[40] - Adjusted Earnings per Share for Q3 2024 was $1.09, down 20.4% from $1.37 in Q3 2023[40] Expenses - Selling, general and administrative expenses increased by $9.5 million, or 10.4%, to $100.8 million, representing 14.6% of sales[5] - Operating expenses for the three months ended December 31, 2024, rose to $100,778,000, an increase of 10.5% from $91,289,000 in 2023[23] - Total Gross Profit for Q3 2024 was $241,594, down 7.0% from $259,849 in Q3 2023[36] - Total Segment Adjusted Gross Profit for Q3 2024 was $275,943, a decrease of 2.3% from $284,253 in Q3 2023[36] Cash Flow and Liquidity - Net cash provided by operating activities was $540.3 million, down from $700.3 million in the prior year[12] - Net cash provided by operating activities for the nine months ended December 31, 2024, was $540,264,000, down from $700,262,000 in 2023[27] - Free Cash Flow for the nine months ended December 31, 2024, was $373,854, a decline of 33.7% compared to $563,877 in the same period of 2023[38] - Total liquidity was $1,078.4 million, including cash of $488.9 million and $589.6 million available under credit facilities[14] Capital Expenditures and Debt - Capital expenditures for the nine months ended December 31, 2024, were $166,410,000, compared to $136,385,000 in the same period of 2023[27] - Long-term debt obligations, net, as of December 31, 2024, were $1,253,129,000, slightly down from $1,259,522,000 as of March 31, 2024[25] Future Outlook - The company confirmed its fiscal 2025 financial targets, expecting net sales in the range of $2.900 billion to $2.975 billion and Adjusted EBITDA between $880 million and $920 million[16] Acquisition - The company completed the acquisition of Orenco on October 1, 2024, enhancing its offerings in decentralized wastewater management[13] Depreciation and Interest - Depreciation and amortization for Q3 2024 was $47,766, an increase of 25.5% from $38,053 in Q3 2023[37] - Interest expense for Q3 2024 was $23,094, a slight increase from $22,331 in Q3 2023[37]

Company Expansion - Advanced Drainage Systems (ADS) announced the groundbreaking of a significant expansion to its recycling facility in Cordele, Georgia, increasing the facility's total size to 117,000 square feet [1] - The expansion will enhance ADS' ability to provide high-quality recycled material to its factories in the Southeast [1] - The investment will bring as many as 50 new jobs to the local community [5] Industry Leadership - ADS is one of the largest plastic recycling companies in North America, sourcing both post-industrial and post-consumer recycled plastics to manufacture its stormwater and onsite septic wastewater products [2] - The company ensures over half a billion pounds of plastic is kept out of landfills every year [4] - ADS' industry-leading material blending programs allow the conversion of recycled plastic into durable products such as pipe and chambers [2] Strategic Location and Partnerships - The Cordele facility is part of a thriving economic region, ideal for efficiently manufacturing and transporting recycled materials to ADS' Southeastern pipe plant network [2] - The development of the ADS Recycling facility was supported by the Cordele-Crisp County Industrial Development Council, Crisp County Commissioners, and the Georgia Department of Economic Development [3] - The Crisp County Power Commission is purchasing and installing transformers to support production capabilities for this facility [3] Company Overview - ADS is a leading manufacturer of innovative stormwater and on-site septic wastewater solutions, managing the world's most precious resource: water [4] - The company operates approximately 70 manufacturing plants and 40 distribution centers, with the industry's largest company-owned fleet and an expansive sales team [4] - ADS and its subsidiary, Infiltrator Water Technologies, provide superior stormwater drainage and on-site septic wastewater products used in commercial, residential, infrastructure, and agricultural markets [4]

TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) (“Western Metallica” or the “Company”) announces it has secured bridge financing in the amount of CDN$100,000 (the "Bridge Loan") from Gregory Duras, Chief Executive Officer and Director of the Company (the "Lender"), in order to continue to advance its exploration activities at the Luz Maria copper-molybdenum target, located within the Company’s 100%-owned Caña Brava Project, Northern Peru. The Bridge Loan bears inte ...

Core Viewpoint - Western Metallica Resources Corp. has reported promising initial results from its ongoing drill program at the Luz Maria copper-molybdenum target, indicating the presence of a significant Cu-Mo porphyry system in Northern Peru [1][6][7]. Drilling Highlights - Three diamond drill holes have been completed at the Luz Maria prospect, all intersecting broad intervals of strongly altered intrusive rocks typical of Andean porphyry systems [4]. - Drill hole LM24DD001 reached a depth of 396.1 meters, intersecting 275 meters of altered and mineralized diorite with average grades of 400 ppm Cu and 100 ppm Mo [4][6]. - Drill hole LM24DD002, completed to 329.7 meters, showed increasing alteration intensity, with the best result being 1.8 meters at 0.2% Cu [4][5]. - Drill hole LM24DD003, terminated at 330.45 meters due to operational issues, intercepted a strongly altered quartz-monzonite intrusion, indicating increasing mineralization density at depth [5][6]. Geological Context - The Luz Maria project is located within a 500 meters by 300 meters area, representing less than 5% of the defined alteration footprint, suggesting significant potential for further exploration [4][6]. - The project is situated in a region known for world-class deposits, with the Caña Brava Project being strategically located near industrial ports and major roads [9][10]. Future Exploration Plans - The company plans to conduct a 6-hole maiden scout drill program to further assess the size and grade of the porphyry system, having only tested a small portion of the alteration footprint so far [6][8]. - Additional targets, such as Caña Brava 1, are also being explored, with plans for drilling a 1.5 km by 1.5 km phyllic alteration anomaly [8][10]. Technical Assurance - Sample preparation and analyses are conducted following standard industry procedures, ensuring the reliability of the results [11]. Company Overview - Western Metallica Resources Corp. is focused on mineral resource exploration and development, holding the option to acquire a 100% interest in the Caña Brava copper-molybdenum project in Peru [13].