Valmont reports record Q3 sales $1.1B, EPS $3.34; raises FY22 outlook, guides FY23 growth

VALMONT INDUSTRIES INC

2022-Q3 EPS reported $9.77 revenue$3,213,734,000

Record Q3 net sales $1.097B (+26.3% YoY); diluted EPS $3.34 GAAP ($3.49 adjusted) vs $2.40 ($2.57).
Infrastructure sales $778.4M (+22.7%); Agriculture sales $327.3M (+36.2%); backlog $2.0B (record).
Updated FY22 outlook: net sales growth ~22%, GAAP EPS $12.95-$13.30, adjusted $13.65-$14.00.
Preliminary FY23 guidance: net sales growth 6-9%, EPS growth 11-15%; operating cash flow $184M YTD.
Returned $22.4M to shareholders via dividends and buybacks; $101M remaining authorization.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VALMONT INDUSTRIES INC reported the fiscal quarter ended September 24, 2022 results: revenue $1,097,382, net income $72,112, EPS $3.34.

Period: the fiscal quarter ended September 24, 2022
Revenue: $1,097,382
Net income: $72,112
EPS: $3.34
Result: reported results

Exact text from the filing

1 (000's except per share amounts) 09/24/2022 09/25/2021 09/24/2022 09/25/2021 Q3 2022 Q3 2021 vs. Q3 2021 Q3 2022 Q3 2021 vs. Q3 2021 Net Sales $ 1,097,382 $ 868,782 26.3 % $ 1,097,382 $ 868,782 26.3 % Operating Income 109,972 76,195 44.3 % 114,147 80,433 41.9 % Operating Income as a % of Net Sales

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Source: SEC EDGAR

accession 0000102729-22-000064

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