Valmont lifts annual earnings range as utility demand supports higher margins
Valmont Industries ($VMI) reported quarterly sales of $1.10 billion, up 5.5%, while operating profit increased 22.2% to $172.8 million. Earnings per share grew 25.3% to $6.24 and operating cash flow totaled $100.5 million. Demand in utility infrastructure and coatings supported the quarter’s performance. Capital spending was $45.6 million, including investment in North American capacity for utility-related products. The company raised its full-year adjusted earnings-per-share range to $22.75–23.
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