Valmont Industries (NYSE: VMI) reported Q3 EPS of $4.12, $0.12 better than the analyst estimate of $4.00. Revenue for the quarter came in at $1 billion versus the consensus estimate of $1.02 billion.

GUIDANCE:

Valmont Industries sees FY2024 EPS of $16.50-$17.30, versus the consensus of $16.92.

Reaffirming 2024 Full-Year Financial Outlook and Providing Key Assumptions

The Company is reaffirming its full-year 2024 net sales and diluted earnings per share outlook that was provided in the second quarter.

Net sales change (vs. prior year) of (3.5%) to (1.5%)

Infrastructure net sales growth of Flat to 1.5% vs. prior year
Agriculture net sales expected to decrease (15.0%) to (10.0%) vs. prior year
Effective tax rate expected to be slightly below 26%
Minimal expected foreign currency translation impact on net sales
For cash flow purposes, capital expenditures now expected to be in the range of $85.0 to $95.0 million to support strategic growth initiatives (vs. prior expectation of $95.0 to $110.0 million)

For earnings history and earnings-related data on Valmont Industries (VMI) click here.