secwatch.observer — SEC 8-K summary
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Issuer:     VALMONT INDUSTRIES INC (VMI)
CIK:        0000102729
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0000102729-24-000008
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/102729/000010272924000008/0000102729-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/102729/000010272924000008/vmi-20240221x8k.htm
  HTML page:      https://secwatch.observer/filing/0000102729-24-000008

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