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

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

Valmont Reports First Quarter 2016 Earnings

April 20, 2016 5:30 PM EDT

OMAHA, Neb., April 20, 2016 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and mechanized irrigation equipment and services for agriculture, today reported first quarter results.

Revenues of $596.6 million were down 11% year-over-year, reflecting negative foreign currency translation and the revenue impact of significantly lower steel costs Operating income rose 8% to $62.4 million, which included $1.1 million negative foreign exchange impact; operating income was 10.5% of net sales, compared with 8.6% in 2015 Diluted EPS increased 13% to $1.45 compared with $1.28 in 2015 due to restructuring,... More