Valmont Q2 record sales $894.6M (+29.9% YoY); raises FY guidance, EPS $2.89/$3.06 adj.

VALMONT INDUSTRIES INC

2021-Q2 EPS reported $5.46 revenue$1,669,515,000

Record Q2 net sales $894.6M (+29.9% YoY); GAAP diluted EPS $2.89, adjusted $3.06.
Global backlog over $1.34B (+17.5% vs FY2020); Utility backlog >$675M.
Irrigation segment sales surged 87.2% YoY driven by large Egypt project and strong ag markets.
Completed $300M acquisition of Prospera Technologies and acquired PivoTrac assets.
FY 2021 guidance raised: net sales growth 16-19% (prior 9-14%) and adj. EPS $10.40-$11.10.

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