VMI
Valmont Industries, Inc.
Price as of Jul 17, 2026
VMI earnings
Valmont Industries, Inc. earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| 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% |
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
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-07-21.