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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, Inc. (NYSE: VMI) has declared a quarterly dividend of $0.60 per share, reflecting an annual rate of $2.40 per share. The payment is scheduled for July 14, 2023, for shareholders on record as of June 30, 2023. This decision signals the company's ongoing commitment to providing returns to its investors while maintaining its position as a leader in infrastructure and agricultural productivity.
Valmont has been operational for over 75 years, consistently innovating to enhance resource efficiency and agricultural advancements. The company aims to improve life through technology, adhering to its mission of Conserving Resources. Improving Life.
Valmont Industries, Inc. (NYSE: VMI) reported strong first quarter results for 2023, highlighting record Net Sales and Operating Income. Net Sales reached $1.1 billion, an 8.3% increase year-over-year, while Operating Income rose 24.9% to $118.5 million. Diluted EPS also grew to $3.47, a 19.7% increase compared to the previous year. The company secured an $85 million order for agricultural projects in Africa, and reported a backlog of $1.6 billion. Additionally, Valmont announced a $400 million share repurchase plan and increased its quarterly dividend by 9%, from $0.55 to $0.60 per share. The company raised its full-year EPS outlook, highlighting strong market demand and operational excellence.
Valmont Industries, Inc. (NYSE: VMI) launched its AgTech Tour 2023 in Omaha, Nebraska, showcasing advanced agricultural technologies from its subsidiaries, Valley and Prospera. The tour aims to address challenges like high input costs and labor shortages by providing innovative solutions that enhance efficiency and profitability for growers. Nebraska Governor Jim Pillen emphasized the importance of AgTech in achieving sustainability. The tour will feature interactive technology demonstrations, including Plant Insights and irrigation management tools, allowing growers to optimize resources and crop health while maximizing yields.
Valmont Industries (NYSE: VMI) will host its first quarter 2023 earnings conference call on April 21, 2023, at 8:00 a.m. CDT. A news release detailing the earnings results will be issued after market close on April 20, 2023. The call will feature Stephen G. Kaniewski, CEO, and Avner M. Applbaum, CFO, and can be accessed at this link. A replay will be available three hours after the event and can be accessed until April 28, 2023.
Valmont Industries (NYSE: VMI) has announced its Investor Day set for May 23, 2023, at the New York Stock Exchange. This event will be available both in-person and virtually. Key executives, including CEO Stephen G. Kaniewski and CFO Avner M. Applbaum, will present an overview of the company's strategies, capital priorities, and financial objectives. The event will begin at 9:00 a.m. ET and will include a live webcast with Q&A sessions. Advanced registration is required for in-person attendance. For more details, visit the Valmont Investor Day website.
Valmont Industries (NYSE: VMI) announced an increased quarterly dividend and the reauthorization of its share repurchase program. The new quarterly cash dividend is set at $0.60 per share, a 9% increase from the previous $0.55, payable on April 14, 2023, to shareholders of record on March 31, 2023. Additionally, the company will have authorization to repurchase up to $400 million in common stock under the renewed program. This decision is backed by strong cash flow generation and reflects the company's commitment to enhancing shareholder value while maintaining a disciplined growth strategy.
Valmont Industries (NYSE: VMI) reported record fourth-quarter 2022 net sales of $1.1 billion, a 17.5% increase year-over-year. Operating income surged 116.2% to $109.7 million, marking 9.7% of net sales. Diluted EPS rose 48.8% to $1.86, despite a $33.3 million loss from divesting the offshore wind energy structures business. For the full year, net sales hit $4.3 billion, up 24.1%, with diluted EPS at $11.62. Valmont anticipates 2023 net sales growth of 4%-7% and diluted EPS between $14.70 and $15.25. The company's robust financials reflect solid demand across its Infrastructure and Agriculture divisions.
Valmont Industries (NYSE: VMI) will conduct its fourth quarter and full year 2022 earnings conference call on February 23, 2023, at 8:00 a.m. CST. The earnings results will be released after the market closes on February 22, 2023. During the call, Stephen G. Kaniewski, President and CEO, along with Avner M. Applbaum, EVP and CFO, will discuss the results. Interested parties can join via telephone or a live webcast. A replay will be available three hours post-call until March 2, 2023.
Valmont Industries (NYSE: VMI) announced a supply agreement to provide mechanized irrigation equipment and technology for multiple agricultural projects in Africa. This initiative aims to enhance food production efficiency amid rising global demands and supports national agricultural investments. The project will utilize cutting-edge Valley Irrigation technology to optimize crop yields while conserving water. Shipments are projected to start in Q2 2023, reflecting the company's strong international project pipeline and commitment to sustainable farming practices.
Valmont Industries (NYSE: VMI) will participate in the CJS Securities New Ideas for the New Year Conference on January 11, 2023. Management, including CEO Stephen G. Kaniewski and CFO Avner Applbaum, will host virtual investor meetings throughout the day and a fireside chat at 2:20 PM ET. Investors can access a live webcast of this session at the company's website, with a replay available for 90 days. Valmont has been a leader in infrastructure and agricultural productivity for over 75 years, focusing on innovation and sustainability.
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