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Valmont Industries, Inc. (VMI) is a globally recognized leader in the design and manufacturing of poles, towers, and structures for a variety of markets, including lighting, traffic, wireless communication, and utilities. The company also excels in providing protective coating services to preserve metal products. Beyond infrastructure, Valmont is a pioneer in mechanized irrigation equipment, which plays a crucial role in enhancing agricultural productivity while conserving natural water resources. Additionally, Valmont produces a wide range of tubing for commercial and industrial applications.
Operating through two primary segments, Infrastructure and Agriculture, Valmont generates the majority of its revenue from its Infrastructure segment. This segment focuses on creating and distributing products and solutions that cater to utility, renewable energy, lighting, transportation, telecommunications, and coatings services. Geographically, the company derives most of its revenue from North America, underlining its strong presence in the region.
Valmont Industries is not just about producing high-quality products; it also emphasizes sustainability and innovation. Through its advanced irrigation solutions, the company supports sustainable agriculture by optimizing water use and increasing crop yields. These initiatives are vital for addressing global food security challenges.
Recently, Valmont has made significant strides in expanding its operations and forming strategic partnerships, further solidifying its position as a market leader. The company continually invests in research and development to stay ahead of industry trends and meet the evolving needs of its customers.
Financially, Valmont Industries remains robust, with consistent revenue growth and a stable market position. The company's commitment to innovation, sustainability, and quality makes it a reliable choice for investors looking to diversify their portfolios with a company that has a strong track record and promising future prospects.
Valmont Industries (NYSE: VMI) has appointed Thomas Liguori as Executive Vice President and Chief Financial Officer, effective immediately. Liguori, with over 30 years of finance experience, will lead the global finance and accounting organization, reporting to CEO Avner M. Applbaum. He joins Valmont from Fortna , where he served as CFO, and previously held the same position at Avnet, a Fortune 200 global semiconductor distributor.
Liguori's appointment is expected to bring valuable public-company experience and a track record of creating shareholder value, improving working capital, and enhancing operating efficiencies. Timothy P. Francis, who served as Interim CFO since July 2023, will remain with Valmont as Chief Accounting Officer, reporting to Liguori.
Valmont Industries (NYSE: VMI), a global leader in vital infrastructure and agricultural productivity, has announced a quarterly dividend of $0.60 per share. The dividend is payable on October 15, 2024, to shareholders of record on September 27, 2024. This dividend indicates an annual rate of $2.40 per share.
Valmont is known for providing essential infrastructure solutions and advancing agricultural productivity through innovative technology. The company's Board of Directors approved this dividend, demonstrating its commitment to returning value to shareholders.
Valmont Industries (NYSE: VMI) reported strong Q2 2024 results, raising full-year diluted EPS guidance to $16.50-$17.30. Net sales remained steady at $1.0 billion, while operating income increased 10.2% to $147.3 million. Diluted EPS grew 16.6% to $4.91, including a $0.15 per share tax benefit. The company generated $130.8 million in operating cash flows and returned $27.1 million to shareholders through repurchases and dividends.
The Infrastructure segment saw a slight 1.0% decrease in sales but improved operating income. The Agriculture segment experienced growth in North America due to weather-related replacement sales, offset by lower sales in Brazil. Valmont is adjusting its strategy, exiting low-margin Solar projects and adapting to steel price deflation, leading to revised net sales projections but improved profitability outlook.
Valmont Industries (NYSE: VMI), a global leader in infrastructure and agricultural technology, will host its second quarter 2024 earnings call on July 25, 2024, at 8:00 a.m. CT. The earnings release will be issued on July 24, 2024, after market close. The call will feature President and CEO Avner M. Applbaum and Interim CFO Timothy P. Francis. Investors can access the live call via phone or webcast, with a slide presentation available for download. A replay will be accessible three hours post-call and remain available until August 1, 2024, at 10:59 p.m. CT.
Valmont Industries has published its 2024 Sustainability Report, the ninth since 2015. Highlighting significant advancements in infrastructure and agricultural productivity, the report outlines the company's progress towards its 2025 environmental goals using a 2018 baseline. Notable achievements include a reduction in carbon intensity from 78.13 CO2 MT/$M to 43.96 MT/$M and a 46% decrease in normalized electricity usage. The company also reported a 13.5% reduction in Total Recordable Incident Rate (TRIR) for safety metrics. Valmont's commitment to sustainability is integrated into its business model, driving operational efficiencies, reducing costs, and creating competitive advantages.
Valmont Industries (NYSE: VMI) announced its participation in two key investor conferences in June 2024. Timothy P. Francis, Interim CFO, and Renee Campbell, SVP Investor Relations and Treasurer, will represent the company at the Stifel 2024 Cross Sector Insight Conference on June 4, 2024, including a fireside chat at 2:00 PM CT. Additionally, Avner M. Applbaum, CEO, and Timothy P. Francis will present at the William Blair & Company 44th Annual Growth Stock Conference on June 5, 2024, at 4:00 PM CT. Both events will feature live audio webcasts accessible through Valmont's investor relations website. Replays will be available for 90 days post-event.
Valmont Industries, a global leader in vital infrastructure and agricultural productivity, declared a quarterly dividend of $0.60 per share, with an annual rate of $2.40 per share.
Valmont Industries, Inc. reported strong Q1 2024 financial results, with reduced sales but expanded margins. Infrastructure segment saw continued utility market demand, while Agriculture faced lower sales due to normalized backlog levels. Operating income increased by 11%, diluted EPS grew by 24.5%, and the company repurchased 96,200 shares.
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