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Valmont Industries shares rose over the past week, gaining 20.9% during the period. Over the same stretch, the S&P 500 increased 0.5% and the Nasdaq Composite rose 1.5%.
On April 21, Valmont released results for the first quarter of its current fiscal year, which ended March 28. The company reported sales and earnings that beat Wall Street’s average analyst estimates and also increased parts of its forward guidance.
Valmont reported earnings per share (EPS) of $5.51 for fiscal Q1, compared with the average analyst estimate of $4.67. Revenue increased by roughly 6.3% year over year to $1.03 billion, exceeding the average analyst target by about $34.2 million.
The company attributed performance to sales volume growth and margin expansion in its North America Utility segment, alongside forward guidance described as encouraging.
Following its fiscal Q1 report, Valmont reiterated guidance for total sales to be in the range of $4.2 billion to $4.4 billion.
For infrastructure sales, the company raised its forecast to $3.3 billion to $3.45 billion, up from the prior range of $3.25 billion to $3.4 billion. For agriculture sales, Valmont lowered its target to $0.9 billion to $0.95 billion, down from the previous forecast of $0.95 billion to $1 billion.
While the segment sales guidance adjustments were described as effectively a wash, Valmont increased its outlook for diluted EPS. The company raised diluted EPS guidance from $20.50–$23.50 to $21.50–$23.50, including an increase to the lower end of the forecast range.
Investors responded positively to the earnings outlook update, with the stock rising over the past week as the company lifted the floor of its diluted EPS forecast.
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