Valmont Reports First Quarter 2021 Results
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Valmont Industries (VMI) Tops Q1 EPS by 45c, Revenues Beat; Offers 2Q Revenues Outlook Above Consensus, FY21 EPS Mid-Point View Below Consensus
April 21, 2021 4:19 PM EDTValmont Industries (NYSE: VMI) reported Q1 EPS of $2.57, $0.45 better than the analyst estimate of $2.12. Revenue for the quarter came in at $774.9 million versus the consensus estimate of $756.27 million.
First Quarter 2021 Highlights (all metrics compared to First Quarter 2020 unless otherwise noted)
Net Sales of $774.9 million increased 14.9% led primarily by significantly higher sales in Irrigation and Utility Support StructuresOperating Income increased 15.4% to $77.2 million, or 10.0% of sales compared to $66.9 million or 9.9% of sales last year, despite significant inflationary pressuresDiluted Earnings per Share (EPS) improved to $2.57 compared to $1.99, an increase of... More