Exhibit 99.1



News Release

For Immediate Release




Renee Campbell

April 23, 2019





Valmont Reports First Quarter 2019 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 financial results for the first quarter ended March 30, 2019.


Update on Financial Impact of Midwest Flooding Event


The widespread, Midwest U.S. flooding event in mid-March led to a seven-day closure of the Company’s largest manufacturing facility in Valley, Nebraska, and minor impacts to its Columbus and West Point, Nebraska facilities. The resulting first quarter impact was approximately $10.0 million of revenue, with a corresponding $0.11 impact on first quarter diluted earnings per share, and a $0.07 diluted earnings per share impact from additional flood-related expenses. The first quarter revenue impact will shift to the second and third quarters. Insurance recovery for flood impacts to property and business interruption is currently in process. Specific recovery estimates and timing are not yet known; however, the Company does not expect the event to impact full-year 2019 results.


First Quarter 2019 Highlights (metrics compared to first quarter 2018 unless otherwise noted)


·                  Revenues of $692.1 million compared to $698.7 million last year. Excluding an unfavorable currency impact of $17.2 million, and $18.4 million of revenue from the divested grinding media business, sales grew 4.2%


·                  Operating income of $55.1 million or 8.0% of sales, compared to $64.0 million or 9.2% of sales ($68.4 million adjusted1 or 9.8% of sales)


·                  Diluted Earnings per Share of $1.66 compared to $1.72 ($1.87 adjusted1). Excluding flood impacts of $0.18, first quarter diluted EPS would have been $1.84


·                  Repurchased 70,400 shares of company stock for $9.4 million, at an average price of $133.81 per share


The following information was filed by Valmont Industries Inc (VMI) on Wednesday, April 24, 2019 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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