Valmont Q3 net sales record $868.8M (+18.4%); raises FY21 EPS guidance to $10.10-$10.60

VALMONT INDUSTRIES INC

2021-Q3 EPS reported $7.86 revenue$2,538,297,000

GAAP diluted EPS $2.40 vs $1.84 YoY; adjusted EPS $2.57 vs $1.99.
Record global backlog >$1.5B (+35% from FY20); Irrigation sales surged 72.6%.
Full-year GAAP EPS guidance raised to $10.10-$10.60; adjusted to $10.60-$11.10.
Utility Support Structures margins impacted by raw material cost inflation not fully recovered.
Co. expects FY22 sales growth 7%-12% and EPS growth 13%-15% in line with long-term targets.

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