Exhibit 99.1

 

News Release

For Immediate Release

 

Contact:

Renee Campbell

April 18, 2018

 

402-963-1057

 

 

Jeff Laudin

 

 

402-963-1158

 

 

Valmont Reports First Quarter 2018 Results

 

Omaha, NE - Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today reported first quarter 2018 results.

 

 

 

 

GAAP

 

Adjusted(1)

 

 

 

3/31/2018

 

4/1/2017

 

 

 

3/31/2018

 

4/1/2017

 

 

 

 

 

Q1 2018

 

Q1 2017

 

vs. Q1 2017

 

Q1 2018

 

Q1 2017

 

vs. Q1 2017

 

Revenue

 

$

698,684

 

$

637,473

 

up 9.6%

 

$

698,684

 

$

637,473

 

up 9.6%

 

Operating Income

 

$

63,960

 

$

64,656

 

down 1.1%

 

$

68,360

 

$

64,656

 

up 5.7%

 

Operating Income as a % of Net Sales

 

9.2

%

10.1

%

 

 

9.8

%

10.1

%

 

 

Net Earnings

 

$

39,281

 

$

38,979

 

up 0.8%

 

$

42,606

 

$

38,979

 

up 9.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share

 

$

1.72

 

$

1.72

 

unch.

 

$

1.87

 

$

1.72

 

up 8.7%

 

Average Shares Outstanding

 

22,796

 

22,660

 

 

 

22,796

 

22,660

 

 

 

 

First Quarter Highlights:

 

·                  Revenues increased 9.6% to $698.7 million, reflecting higher pricing to recover inflation, volume increases in all segments except Utility, and favorable foreign currency translation effects

 

·                  Deployed capital for share repurchases, two acquisitions in the Irrigation segment, and investments in existing factories in the U.S., Poland, and the United Arab Emirates

 

·                  The sale of Donhad Pty. Ltd, the mining consumables business in Australia, was approved by Australian regulatory authorities, with expected closing by April 30

 

- more -

 


The following information was filed by Valmont Industries Inc (VMI) on Thursday, April 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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