Valmont Q3 2024: EPS $4.11 vs prior year loss; operating margin expands to 12.3%; revenues down 2.9%

VALMONT INDUSTRIES INC

2024-Q3 EPS reported $13.34 revenue$3,037,740,000

Net sales of $1.02B (-2.9% YoY); GAAP diluted EPS $4.11 vs ($2.34) loss; adjusted EPS $4.11 vs $4.12.
Infrastructure segment operating margin 16.3% (up from 13.7%); Utility sales +15%, driven by favorable mix.
Agriculture segment sales -11.1% to $265M; operating margin 11.0% vs prior-year adjusted 13.0%.
Operating cash flow $225M; reduced revolver borrowings $120M; returned $52.2M to shareholders via buybacks/dividends.
Reaffirming FY2024 outlook: revenue -3.5% to -1.5%; EPS $16.50-$17.30; capex guidance lowered to $85-95M.

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