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Dec 31, 2022
Valmont Q4 2022 Earnings Report
Valmont achieved record results and provided positive full year net sales and EPS guidance.
Key Takeaways
Valmont Industries reported strong Q4 2022 results with record net sales of $1.1 billion, a 17.5% increase year-over-year. Operating income increased by 116.2% to $109.7 million. Diluted EPS was reported at $1.86 ($3.57 adjusted). The company also provided a positive 2023 full-year net sales and EPS guidance.
Net Sales of $1.1 billion increased 17.5%, a fourth quarter record.
Operating Income increased 116.2% to $109.7 million, or 9.7% of net sales.
Diluted Earnings per Share (“EPS”) of $1.86 ($3.57 adjusted) compared to $1.25 ($2.73 adjusted).
Generated strong operating cash flows of $142.5 million.
Valmont
Valmont
Forward Guidance
Valmont provided its 2023 full-year net sales and diluted earnings per share outlook and key assumptions for the year.
Positive Outlook
- Opportunity to drive multi-year revenue and profitability growth.
- Strong market drivers across businesses.
- Proven track record of execution.
- Backlog of $1.7 billion.
- Strong balance sheet, giving flexibility to execute on strategies.
Challenges Ahead
- Net Sales Growth (vs. PY) of 4% to 7%, which reflects the divestiture of the offshore wind energy structures business
- GAAP Diluted Earnings per Share of $14.70 to $15.25 ($15.35 to $15.90 adjusted)
- Effective tax rate of 28% to 29%, primarily due to expected geographic mix of earnings
- Minimal expected foreign currency translation impact to net sales
- Capital expenditures expected to be in the range of $105 to $125 million to support strategic growth and digital transformation initiatives