The company now expects sales of $3.3 billion to $3.4 billion, down from its previous forecast of $3.35 billion to $3.55 billion. Analysts polled by FactSet had projected $3.42 billion. The stock is down 14% year to date.

For the second quarter, Advanced Drainage Systems reported profit of $110.4 million, or $1.46 a share, compared with $156 million, or $1.99 a share, a year earlier. Analysts had expected earnings of $1.85 a share. Sales rose 4.6% to $889.4 million, but fell short of analysts’ $921.8 million estimate.

Chief Executive Scott Barbour said sales were affected by a larger-than-expected pull forward of revenue into the first quarter. For the second half, the company expects profitability to continue as easing inflationary pressure on materials helps offset unfavorable volume and transportation costs. Barbour said that improvement means the company does not need to raise prices as previously expected, a factor that had been included in its earlier sales guidance.