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Mar 30, 2024
Valmont Q1 2024 Earnings Report
Valmont reported strong quarterly results with expanded margins and raised full-year guidance.
Key Takeaways
Valmont Industries reported a decrease in net sales by 8.0% to $1.0 billion, but increased operating income by 11.0% to $131.6 million. Diluted earnings per share grew 24.5% to $4.32. The company also raised its full-year 2024 guidance, reflecting confidence in its strategies and market conditions.
Net sales decreased by 8.0% to $1.0 billion.
Operating income increased by 11.0% to $131.6 million.
Diluted earnings per share grew by 24.5% to $4.32.
Full-year 2024 guidance was raised due to strong market demand and improved visibility in international agriculture projects.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Valmont is raising its 2024 net sales and diluted earnings per share expectations, focusing on execution, commercial excellence, and operational efficiencies to drive margin expansion.
Positive Outlook
- Improved visibility to international agriculture projects supports a slightly more positive view of Agriculture sales for the full year.
- Demand for Infrastructure products remains strong.
- Strategic capacity investments are being made to meet customer needs and take advantage of visible opportunities.
- Broad exposure to infrastructure and agriculture markets helps manage market cycles and share resources across businesses.
- Effective cost management enhances the ability to expand margins.
Challenges Ahead
- Effective tax rate of approximately 26%
- Minimal expected foreign currency translation impact on net sales
- Capital expenditures now expected to be in the range of $110.0 to $125.0 million to support strategic growth initiatives
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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