Valmont Industries Inc.

Latest Results (24.12.2024):

Net Sales Performance

In the third quarter of 2024, Valmont Industries Inc. reported net sales of $1.0 billion, marking a 2.9% decrease compared to the same period in 2023. This decline was attributed to strong growth in the Utility and Telecommunications segments, which was offset by lower sales in the Solar and international Agriculture sectors, particularly in Brazil.

Operating Income and Margins

Valmont Industries Inc. achieved an operating income of $125.7 million in the third quarter of 2024, which represents 12.3% of net sales. This is a significant improvement from an operating loss of $24.2 million in the third quarter of 2023. The increase in operating income was driven by pricing discipline, a favorable product mix, and a leaner cost structure.

Earnings Per Share

The company reported diluted earnings per share (EPS) of $4.11 for the third quarter of 2024, compared to a diluted loss per share of $2.34 in the same quarter of the previous year. This improvement reflects the company's successful efforts in expanding operating margins and generating strong cash flows.

Cash Flow and Shareholder Returns

Valmont Industries Inc. generated strong operating cash flows of $225.1 million during the third quarter of 2024. The company returned $52.2 million to shareholders through share repurchases and dividends, and reduced borrowings on its revolving credit facility by approximately $120.0 million.

Full-Year Financial Outlook

Valmont Industries Inc. reaffirmed its full-year 2024 financial outlook, expecting net sales to decrease by 3.5% to 1.5% compared to the previous year. The company anticipates diluted earnings per share to range between $16.50 and $17.30, with an effective tax rate slightly below 26%. Capital expenditures are projected to be between $85.0 million and $95.0 million to support strategic growth initiatives.