Valmont: 4Q Earnings Snapshot

Associated Press
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OMAHA, Neb. (AP) _ Valmont Industries Inc. (VMI) on Wednesday reported fourth-quarter net income of $35.8 million.

The Omaha, Nebraska-based company said it had net income of $1.68 per share. Earnings, adjusted for one-time gains and costs, came to $2.20 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share.

The infrastructure equipment maker posted revenue of $798.4 million in the period.

For the year, the company reported profit of $140.7 million, or $6.57 per share. Revenue was reported as $2.9 billion.

For the current quarter ending in April, Valmont said it expects revenue in the range of $740 million to $765 million.

The company expects full-year earnings to be $9 to $9.70 per share.

Valmont shares have risen 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $224.47, a rise of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMI at https://www.zacks.com/ap/VMI

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