Welcome to our dedicated page for Valmont Industries news (Ticker: VMI), a resource for investors and traders seeking the latest updates and insights on Valmont Industries stock.
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) announces the appointment of Gene Padgett as SVP, Finance and Chief Accounting Officer, effective November 1, 2022. Padgett, who has nearly three decades of experience, will oversee accounting and SEC reporting, reporting directly to CFO Avner Applbaum. Previously, he served as Chief Accounting Officer at DXP Enterprises and held roles at Enbridge Energy and Duke Energy. Additionally, Tim Francis has been appointed as Senior Vice President and Finance Business Partner, Global Operations. Both appointments aim to enhance Valmont's global finance and operational efficiency.
Valmont Industries, Inc. (NYSE: VMI) has declared a quarterly dividend of $0.55 per share, payable on January 17, 2023, to shareholders of record on December 30, 2022. This dividend reflects an annual rate of $2.20 per share, showcasing the company's commitment to returning value to its shareholders. Valmont has a long-standing reputation as a global leader in infrastructure and agricultural productivity, emphasizing technological innovation to enhance resource conservation.
Valmont Industries (NYSE: VMI) reported record third quarter results, with net sales increasing by 26.3% to $1.1 billion. Operating income rose 44.3% to $110 million, and diluted EPS reached $3.34, up 39.2% from last year. A robust backlog of $2.0 billion highlights continued strong demand in infrastructure and agriculture markets. The company updated its 2022 financial outlook, projecting a 22% growth in net sales and adjusted EPS between $13.65 and $14.00. For 2023, Valmont anticipates net sales growth of 6% to 9% and EPS growth of 11% to 15%.
Valmont Industries (NYSE: VMI) will host its third quarter 2022 earnings conference call on October 27, 2022 at 8:00 a.m. CDT. A news release detailing the results will be available after market close on October 26, 2022. The call will feature President and CEO Stephen G. Kaniewski and CFO Avner M. Applbaum, accessible via telephone or webcast. A replay will be available after the event until November 3, 2022. Valmont has a strong history of advancing agricultural productivity and infrastructure innovation, committed to Conserving Resources. Improving Life.
Valmont Industries, Inc. (NYSE: VMI) announces participation in two investor conferences in September 2022. Management will engage in discussions at Stifel’s London Industrials & Renewables Summit on September 7, featuring Executive VP Avner M. Applbaum and SVP Renee L. Campbell. Additionally, CEO Stephen G. Kaniewski and Applbaum will attend DA Davidson’s 21st Annual Diversified Industrials and Services Conference on September 22 at 9:30 AM CDT. Both events will include investor meetings and a fireside chat with available presentations and webcasts.
Valmont Industries, Inc. (NYSE: VMI) has declared a quarterly dividend of $0.55 per share, set to be paid on October 14, 2022, to shareholders recorded on September 23, 2022. This dividend reflects an annual rate of $2.20 per share. Valmont continues to be a leader in providing critical infrastructure and enhancing agricultural productivity through technological advancements, demonstrating its commitment to sustainability and resource conservation.
Valmont Industries (NYSE: VMI) reported record financial results for Q2 2022, with net sales reaching $1.1 billion, a 26.9% increase year-over-year. Operating income also rose to $118.7 million, representing 10.5% of net sales, while diluted EPS increased by 22.1% to $3.53. The company noted strong market demand, leading to a backlog of $2.0 billion, a 24.7% increase since the end of 2021. Valmont returned $21.5 million to shareholders and announced an increase in its 2022 financial outlook, projecting net sales growth of 20% to 21%.
Valmont Industries (NYSE: VMI) will host its Q2 2022 earnings conference call on July 21, 2022, at 8:00 a.m. CDT. The results will be announced after market close on July 20, 2022. Stephen G. Kaniewski, President & CEO, and Avner M. Applbaum, CFO, will lead the discussion. Participants can dial in or access via a webcast. A replay of the call will be available after the event until July 28, 2022. Valmont has been a leader in infrastructure and agricultural productivity for over 75 years, focusing on innovation and resource conservation.
Valmont Industries, Inc. (NYSE: VMI) has completed its acquisition of a majority interest in ConcealFab, a leader in 5G infrastructure solutions. This strategic move aims to enhance Valmont's telecommunications strategy by integrating ConcealFab's innovative technologies into its product offerings. The partnership with Ericsson, which holds a minority position, is expected to leverage shared expertise and accelerate growth in the telecom sector. ConcealFab's established relationships and rapid growth will bolster Valmont's position in the RF and PIM markets.
Valmont Industries (NYSE: VMI) announced a definitive agreement to acquire a majority interest in ConcealFab, a leader in 5G infrastructure, with the aim of enhancing its telecom services. This partnership, involving Ericsson, aims to leverage their collaboration for innovative solutions in the telecom sector. The acquisition, expected to close in Q2 2022, is anticipated to be accretive to earnings with an estimated Year-1 revenue of $50 million, reinforcing Valmont's strategy for expansion and customer-centric service in the growing telecommunications market.
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