Valmont beats Q1 EPS estimates, raises full-year guidance on strong Infrastructure margins

VALMONT INDUSTRIES INC

2024-Q1 EPS reported $4.32 revenue$977,828,000

Q1 diluted EPS $4.32 vs $3.47 YoY (+24.5%); revenue $977.8M, down 8% YoY.
Infrastructure operating margin improved to 16.4% (vs 12.9% YoY) despite 1.7% sales decline.
Agriculture sales fell 22.1% YoY, but operating margin held at 15.9%.
Raised FY2024 EPS outlook to $15.40-$16.40 (from $14.25-$15.50); net sales change guidance narrowed to -2% to +0.5%.
Completed $120M ASR; Fitch reaffirmed BBB-/Stable rating; $136.1M remaining on buyback 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 first quarter ended March 30, 2024 results: revenue $1.0 billion, EPS $4.32. Guidance raised.

Period: first quarter ended March 30, 2024
Revenue: $1.0 billion
EPS: $4.32
Guidance: raised
Result: reported results

Exact text from the filing

creation and delivering outstanding results.” First Quarter 2024 Highlights (all metrics compared to First Quarter 2023 unless otherwise noted) ● Net Sales decreased 8.0% to $1.0 billion compared to $1.1 billion ● Operating Income increased 11.0% to $131.6 million or 13.5% of net sales compared to $118.5 million or 11.1% of net sales ● Diluted Earnings per Share

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Source: SEC EDGAR

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