Last $120.85 USD
Change Today +0.57 / 0.47%
Volume 232.5K
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valmont industries (VMI) Key Developments

Valmont Industries, Inc. Revises Earnings Guidance for the Year 2014

Valmont Industries, Inc. revised earnings guidance for the year 2014. The company lowered its 2014 earnings outlook given on October 23, 2014. This change in outlook is primarily the result of reduced fourth quarter demand for irrigation equipment. Also negatively impacting results in the fourth quarter were both production and shipping delays of utility structures that were in the backlog at the time the company issued its prior guidance, and the impact of a stronger USD on translation of earnings. Prior guidance for 2014 indicated earnings of between $8.55 and $8.65 per diluted share, which excluded $0.18 per share of year-to-date fair value decreases for Delta EMD and $0.91 per share of after-tax expenses associated with the debt refinancing completed in the third quarter, but reflected the effect of the stock repurchase program on earnings per share. Prior guidance on earnings per share including these adjustments was $7.46 to $7.56. Full-year diluted earnings per share are now expected to be in the range of $8.10 to $8.20, excluding $0.15 of fair value decreases for Delta EMD and $0.93 of after-tax expenses associated with the debt refinancing, subject to completion of the year-end financial closing and audit. Accordingly, expected earnings per share including the above adjustments are $7.02 to $7.12.

Valmont Industries, Inc. Declares Quarterly Dividend, Payable on January 15, 2015

The Board of Directors of Valmont Industries, Inc. has declared a quarterly dividend of 37.5 cents per share payable on January 15, 2015 to shareholders of record on December 26, 2014. The dividend indicates an annual rate of $1.50 per share.

Vik Bansal to Relinquish His Role as Valmont Industries, Inc.'s President and COO, Effective December 27, 2014

Valmont Industries, Inc. announced that for family reasons, Vik Bansal, Valmont's newly-appointed President and COO, will be relocating back to Sydney, Australia. As a result of this move, Mr. Bansal will relinquish his role as President and COO effective December 27, 2014. Mr. Bansal will return to his previous role as Group President of the Engineered Infrastructure Products Segment based at Valmont's Sydney, Australia office. Valmont's Group Presidents will report to Mogens Bay, Chairman and CEO of Valmont.

Valmont Industries, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Year-To-Date Ended September 27, 2014; Provides Earnings Guidance for the Full Year 2014

Valmont Industries, Inc. reported unaudited consolidated earnings results for the third quarter and year-to-date ended September 27, 2014. The company reported third quarter sales of $765.7 million compared with $778.0 million for the same period of 2013. Third quarter 2014 operating income was $87.8 million versus $109.9 million in 2013. Third quarter net earnings attributable to Valmont Industries were $23.6 million versus $56.5 million in 2013, or $0.92 in diluted earnings per share compared to $2.10 in 2013. Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries were $39,515,000 against $102,728,000 a year ago. Adjusted net earnings attributable to the company were $49,088,000 against $64,761,000 reported last year. Third quarter net income per diluted share as adjusted for significant non-recurring items was $1.92 for the 2014 third quarter and $2.41 for the 2013 third quarter. Capital expenditures were $16.4 million. For the first nine months of 2014, sales were $2,360.0 million versus $2,476.3 million in 2013. Valmont's nine month net earnings attributable to Valmont Industries were $143.5 million, or $5.43 per diluted share, compared with 2013 nine month net earnings of $223.6 million, or $8.31 per diluted share. Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries were $226,045,000 against $353,852,000 a year ago. Operating income was $291,427,000 against $372,356,000 a year ago. Adjusted net earnings attributable to the company were $172,545,000 against $231,893,000 reported last year. Nine month net income per diluted share as adjusted for significant non-recurring items was $6.53 for the 2014 third quarter and $8.46 for the 2013 third quarter. The company expects earnings per diluted share for the full year 2014, to be in the range of $8.55 to $8.65 per share, which includes the impact of share repurchase, excludes the $0.18 year-to-date fair value adjustments for Delta EMD and excludes the $0.91 year-to-date expenses associated with its debt refinancing. For 2014, the company expects capital spending of approximately $80 million.

Valmont Industries, Inc. Presents at Credit Suisse 2nd Annual Global Industrials Conference, Dec-03-2014 01:15 PM

Valmont Industries, Inc. Presents at Credit Suisse 2nd Annual Global Industrials Conference, Dec-03-2014 01:15 PM. Venue: Credit Suisse, One Madison Ave (between 23rd & 24th St.), New York, New York, United States. Speakers: Mark C. Jaksich, Chief Financial Officer and Executive Vice President.

 

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Price/Earnings 16.2x
Price/Sales 1.0x
Price/Book 2.3x
Price/Cash Flow 15.0x
TEV/Sales 0.5x
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