Valmont Q4 adj. EPS $3.18; FY adj. EPS $14.98; 2024 EPS guidance $14.25-$15.50; new long-term targets

VALMONT INDUSTRIES INC

2023-FY EPS reported $6.78 revenue$4,174,598,000

Fourth quarter net sales $1.02B (-10.3%); GAAP EPS $1.38, adjusted EPS $3.18; operating cash flow $115.9M.
Full year 2023 net sales $4.17B (-3.9%); adjusted operating income $473.2M (+5.2%); adjusted EPS $14.98 (+8.4%); free cash flow $210.0M.
2024 outlook: net sales change (3%) to flat; diluted EPS $14.25-$15.50; capex $125-$140M; effective tax rate ~26%.
New long-term targets: organic net sales growth above mid-single digits; operating margin near mid-teens; ROIC high-teens; FCF conversion 100% of net earnings.
Completed organizational realignment with $35.2M pre-tax cash expense; $178.6M in share repurchases in Q4 including $120M ASR; $136.1M remaining on buyback.

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 0.95

VALMONT INDUSTRIES INC reported fourth quarter and fiscal year ended December 30, 2023 results: revenue $1,015,526 (Q4) and $4,174,598 (FY), net income $28,587 (Q4) and $143,475 (FY), EPS $1.38 (Q4) and $6.78 (FY). Guidance reaffirmed.

Period: fourth quarter and fiscal year ended December 30, 2023
Revenue: $1,015,526 (Q4) and $4,174,598 (FY)
Net income: $28,587 (Q4) and $143,475 (FY)
EPS: $1.38 (Q4) and $6.78 (FY)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2023 GAAP Adjusted 1 (000s except per share amounts) 13 weeks 14 weeks 13 weeks 14 weeks 12/30/2023 12/31/2022 12/30/2023 12/31/2022 Q4 2023 Q4 2022 vs. Q4 2022 Q4 2023 Q4 2022 vs. Q4 2022 Net Sales $ 1,015,526 $ 1,131,516 (10.3) % $ 1,015,526 $ 1,098,244 (7.5) % Gross Profit 282,941

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Source: SEC EDGAR

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