Valmont Q2 diluted EPS $4.91 (+16.6% YoY); raises FY 2024 EPS guidance to $16.50-$17.30

VALMONT INDUSTRIES INC

2024-Q2 EPS reported $9.24 revenue$2,017,565,000

Q2 net sales $1.04B (flat YoY); operating income $147.3M (+10.2%); diluted EPS $4.91 vs $4.21, incl $0.15 tax benefit.
Infrastructure sales -1.0% to $762.7M but operating margin improved to 17.6% (from 15.1%) on lower steel costs.
Agriculture sales +slightly to $281.7M; operating margin fell to 14.3% (from 17.7%) due to Brazil headwinds.
FY 2024 diluted EPS guidance raised to $16.50-$17.30 (prev. $15.40-$16.40); net sales guidance lowered to -3.5% to -1.5%.
Operating cash flow $130.8M; $14.9M stock repurchased; $121.2M remains on buyback authorization.

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