Valmont Q1 2023: Record EPS $3.47, raises FY guidance, hikes dividend 9%

VALMONT INDUSTRIES INC

2023-Q1 EPS reported $3.47 revenue$1,062,481,000

Record Q1 net sales $1.06B (+8.3% YoY); GAAP EPS $3.47 (+19.7%); adjusted EPS $3.61.
Infrastructure segment sales $736M (+11.2%); Agriculture $332M (+8.3%).
Raised FY 2023 adjusted EPS guidance to $15.45-$16.00 from $15.35-$15.90.
Reauthorized $400M share repurchase; increased quarterly dividend 9% to $0.60/share.
Backlog $1.6B; secured $85M order for irrigation equipment in Africa.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VALMONT INDUSTRIES INC reported first quarter ended April 1, 2023 results: revenue $1.1 billion, net income $74,540, EPS $3.47. Guidance raised.

Period: first quarter ended April 1, 2023
Revenue: $1.1 billion
Net income: $74,540
EPS: $3.47
Guidance: raised
Result: reported results

Exact text from the filing

metrics compared to First Quarter 2022 unless otherwise noted) ● Achieved record first quarter Net Sales, Operating Income and Diluted Earnings per Share (“EPS”) o Net Sales of $1.1 billion increased 8.3%; excluding 2022 “Other” segment, Net Sales increased 10.4% 1 o Operating Income increased 24.9% to $118.5 million, or 11.1% of net sales (increased 23.4% to $122.1

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Source: SEC EDGAR

accession 0000102729-23-000022

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