Valmont Q3 2022 Earnings Report
Key Takeaways
Valmont Industries reported record third quarter net sales of $1.1 billion, a 26.3% increase compared to the same period last year. Operating income increased by 44.3% to $110.0 million, and diluted earnings per share reached a record $3.34.
Record third quarter net sales of $1.1 billion, up 26.3% year-over-year.
Operating income increased 44.3% to $110.0 million, representing 10.0% of net sales.
Record third quarter diluted earnings per share (EPS) of $3.34.
Generated $116 million in operating cash flows, driven by better working capital management and reduced inventory compared to the second quarter of 2022.
Valmont
Valmont
Forward Guidance
Valmont anticipates favorable market conditions and strong demand to continue into 2023. They expect sales growth of 6% to 9% and earnings per share growth of 11% to 15%.
Positive Outlook
- Favorable market conditions are expected to continue.
- Strong demand is anticipated to continue.
- Robust backlog supports future revenue.
- Ongoing pricing strategies across the portfolio.
- Diversified business portfolio allows for flexibility.