Exhibit 99.1

 

 

 

News Release

For Immediate Release

 

Contact:

Renee Campbell

July 23, 2018

 

402-963-1057

 

 

Valmont Reports Second Quarter 2018 Results

 

Second Quarter 2018 Financial Summary

 

 

 

GAAP

 

Adjusted(1)

 

 

 

6/30/2018

 

7/1/2017

 

 

 

6/30/2018

 

7/1/2017

 

 

 

 

 

Q2 2018

 

Q2 2017

 

vs. Q2 2017

 

Q2 2018

 

Q2 2017

 

vs. Q2 2017

 

Revenue

 

$

682,405

 

$

712,737

 

down 4.3%

 

$

682,405

 

$

712,737

 

down 4.3%

 

Operating Income

 

$

63,670

 

$

78,450

 

down 18.9%

 

$

70,689

 

$

78,450

 

down 9.9%

 

Operating Income as a % of Net Sales

 

9.3

%

11.0

%

 

 

10.4

%

11.0

%

 

 

Net Earnings

 

$

32,960

 

$

45,664

 

down 27.8%

 

$

44,709

 

$

45,664

 

down 2.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share

 

$

1.46

 

$

2.01

 

down 27.4%

 

$

1.98

 

$

2.01

 

down 1.5%

 

Average Shares Outstanding

 

22,573

 

22,740

 

 

 

22,573

 

22,740

 

 

 

 

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 second quarter 2018 results.

 

Second Quarter 2018 Highlights

 

·                  Higher revenues in the Engineered Support Structures and Coatings segments were more than offset by lower sales in the Irrigation and Utility Support Structures segments

 

·                  Late-quarter market headwinds contributed to unfavorable sales comparisons in the Irrigation segment

 

·                  Farmers in North America delayed equipment purchase decisions due to increased uncertainty over tariff and trade policies, and a meaningful decline in grain prices during the quarter

 


The following information was filed by Valmont Industries Inc (VMI) on Tuesday, July 24, 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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