Valmont Industries, Inc. (VMI) Earnings
Valmont Industries, Inc. is expected to report next earnings on July 28, 2026 (in NaN days), with a consensus EPS estimate of $5.76. VMI has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +6.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 21, 2026 | $4.72 | $5.51 | +16.7% | $1.0B | +3.4% |
| Feb 17, 2026 | $4.95 | $4.92 | -0.6% | $1.0B | +7.6% |
| Oct 21, 2025 | $4.64 | $4.98 | +7.3% | $1.0B | +0.3% |
| Jul 22, 2025 | $4.72 | $4.88 | +3.4% | $1.1B | +1.8% |
| Feb 18, 2025 | $3.63 | $3.84 | +5.8% | $1.0B | +2.4% |
| Oct 22, 2024 | $4.00 | $4.11 | +2.8% | $1.0B | +0.6% |
| Jul 24, 2024 | $4.08 | $4.91 | +20.3% | $1.0B | -0.1% |
| May 1, 2024 | $3.31 | $4.32 | +30.5% | $978M | -0.9% |
| Feb 21, 2024 | $3.08 | $3.18 | +3.2% | $1.0B | -2.0% |
| Oct 25, 2023 | $3.78 | $4.12 | +9.0% | $1.1B | -6.0% |
| Jul 26, 2023 | $4.11 | $4.37 | +6.3% | $1.0B | -9.8% |
| Apr 20, 2023 | $3.33 | $3.61 | +8.4% | $1.1B | +1.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 21, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Delivered strong start to the year with sales growth, record earnings per share, and progress against strategic priorities. - Infrastructure performing well with North America utility having 27% sales growth due to capacity expansion plans. - Agriculture grew in North America due to favorable pricing, but international markets had challenges. - Prioritizing high-value offerings, strengthening core businesses, and improving operational performance. - Focused on supporting employees in challenging environments like the Middle East.
Guidance
- Increased full-year EPS guidance. Net sales projected between $4.2 to $4.4 billion. Infrastructure sales projected between $3.3 to $3.45 billion, agriculture sales between 0.9 to 0.95 billion. - Diluted earnings per share projected in range of $21.50 to $23.50. - Mitigating Section 232 tariff exposure by using primary U.S. melt and poured steel, aiming to be tariff, cost, profit neutral. - Investing $170 to $200 million this year, mostly in utility for capacity expansion.
Segment performance
Net sales were 1.03 billion, up 6.2% year over year. Infrastructure sales were $806 million, up 14.1% year over year. North America utility sales increased 27.4% due to pricing and higher volumes. North America Coatings increased 13.3% supported by infrastructure and data center demand. North America lighting and transportation had mixed conditions. Agriculture sales decreased 15.1% year over year, but North America agriculture increased 1.5% and operating margin improved to 14.8%. Infrastructure operating income was $143 million, 17.8% of net sales. Agriculture operating margin was 14.8%.
Risks & headwinds
- Geopolitical risks in the Middle East impacting international operations. - Fluctuations in raw material prices. - Changes in industry supply chain conditions with extended lead times. - Impact of tariffs and government policy changes on costs and pricing.
Analyst Q&A
Q: Question on 232 tariffs and mitigation.
A: Welcomed clarity on April 6th regulations, maximizing U.S. poured and melted steel, aiming to be tariff, cost, profit neutral.
Q: On U.S. utility business productivity from CapEx.
A: Capital is one lever, also operational and commercial capacity improvements, seeing more than one for one return on CapEx.
Q: On backlog and utility market.
A: Backlog relatively flat sequentially but up year-over-year, utility market has unprecedented demand with U.S. utilities planning $1.4 trillion investment through 2030.
Q: On ag and fertilizer prices.
A: Rising fertilizer prices pressure farmers' profitability, challenging environment in 2026, focused on driving farmer profitability through aftermarket and technology.
Q: On North America utility pricing and competitive landscape.
A: Strong market environment, leader in market with high market share, disciplined in value pricing.
Q: On ag margins and sales headwinds.
A: Ag margins 14.8% driven by pricing, product and regional mix, seasonality and Dubai facility fixed costs will pressure margins in rest of year.
Q: On Section 232 tariff sizing for utility business.
A: Approximately 10% tariff, making rapid progress to maximize U.S. melt and pour steel to reduce exposure, general range of incremental costs roughly right.
Q: On utility price vs volume breakdown.
A: Q1 27% growth driven primarily by price, with volume also a contributor, balance of price and volume expected for 2026, pricing to market considering material and logistics escalations