Valmont Industries (VMI) Misses Q3 EPS by 1c; Slightly Lower Outlook
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Valmont Industries (NYSE: VMI) reported Q3 EPS of $1.48, $0.01 worse than the analyst estimate of $1.49. Revenue for the quarter came in at $610.2 million versus the consensus estimate of $625.99 million.
Valmont Industries slightly lowered FY2016 EPS to $6.23-$6.35, versus the consensus of $6.33.
"The market environment continued to be challenging. Sales declines were largely driven by lower international volumes in Utility Support Structures and weaker Coatings demand in North America," said Mogens C. Bay, Valmont's Chairman and Chief Executive Officer. "Despite slightly lower overall sales, volatile steel prices and operational challenges in the Coatings Segment, we continue to benefit from the restructuring and operational actions undertaken over the last 18 months, delivering operating income at 8.7% of sales, or 9.6% of sales before charges."
For earnings history and earnings-related data on Valmont Industries (VMI) click here.
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