OMAHA, Neb. (AP) _ Valmont Industries Inc. (VMI) on Tuesday reported second-quarter earnings of $41.4 million.
The Omaha, Nebraska-based company said it had profit of $1.90 per share. Earnings, adjusted for non-recurring costs, came to $2.10 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.
The infrastructure equipment maker posted revenue of $700.9 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $726 million.
Valmont expects full-year earnings to be $8.10 to $8.70 per share.
Valmont shares have climbed 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $131.74, a drop of roughly 5% in the last 12 months.