Valmont Q2 diluted EPS $4.21 (record), up 19.3% YoY; FY net sales growth view lowered to 0-2%

VALMONT INDUSTRIES INC

2023-Q2 EPS reported $7.67 revenue$2,108,777,000

Net sales $1.046B, down 7.9% YoY (down 5.7% adjusted for wind energy divestiture); operating income +12.6% to $133.7M.
Infrastructure segment sales +4.2% to $770.6M; Agriculture segment sales -25.9% to $279.9M.
Updated FY 2023 net sales growth 0-2% (prior 4-7%); GAAP EPS guidance unchanged at $14.80-$15.35.
Operating margin expanded 230 bps to 12.8%; adjusted operating margin 13.2%.
Repurchased 85,300 shares for $24.0M in Q2; $346.3M remaining on share buyback program.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VALMONT INDUSTRIES INC updated its FY2023 guidance (reaffirmed).

Period: FY2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Providing updated 2023 full-year net sales growth outlook while maintaining diluted earnings per share outlook

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Source: SEC EDGAR

accession 0000102729-23-000043

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