Valmont Industries (VMI) Misses Q1 EPS by 20c; Announces Restructuring Plan
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Valmont Announces First Quarter 2015 Results and a Restructuring Plan
April 22, 2015 5:30 PM EDTOMAHA, Neb., April 22, 2015 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure and mechanized irrigation equipment for agriculture, reported first quarter sales of $670.4 million compared with $751.7 million for the same period of 2014. First quarter 2015 operating income was $57.7 million versus $98.8 million in 2014. First quarter reported diluted earnings per share were $1.28 compared with $2.08 in 2014. Included in 2015 and 2014 first quarter earnings were certain items affecting comparability. Without these items, diluted earnings per share were $1.28 in 2015 and $2.20 in 2014. (See Regulation G reconciliation on last page.)... More
