Valmont Industries (VMI) Tops Q1 EPS by 24c, Reaffirms Guidance

Valmont Industries (NYSE: VMI) reported Q1 EPS of $1.49, $0.24 better than the analyst estimate of $1.25. Revenue for the quarter came in at $596.6 million versus the consensus estimate of $618.55 million.

Outlook:

"The result of the restructuring activities of last year are manifested in our improved profitability despite lower first quarter revenues," Mr. Bay said. "For the balance of the year, we expect revenues more in line with last year and are reaffirming annual guidance."

"We continue to operate in a challenging external environment but continue to control what we can do to drive improved profitability. The positive long-term, global drivers for our businesses remain in place. Efficient use of water for food production will only increase in urgency and economic growth cannot be sustained without investments in the world's infrastructure. We believe we are well positioned to participate in these opportunities."

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

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