Valmont Q2 record sales $1.14B (+27% YoY); EPS $3.53; raises FY2022 guidance

VALMONT INDUSTRIES INC

2022-Q2 EPS reported $6.43 revenue$2,116,352,000

Record diluted EPS of $3.53 ($3.70 adjusted) vs $2.89 ($3.06 adjusted) in Q2 2021.
Net sales of $1.14B, up 26.9% YoY; operating income $118.7M (10.5% margin).
Record backlog of $2.0B, up 24.7% since FY2021 end and 13.4% since Q1 2022.
Infrastructure segment sales $765M (+23.9%); Agriculture $377.8M (+34%).
Raised full-year EPS guidance: GAAP $12.90-$13.30, adjusted $13.60-$14.00.

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