U.S. Markets close in 3 hrs 13 mins

Valmont beats Street 1Q forecasts

OMAHA, Neb. (AP) _ Valmont Industries Inc. (VMI) on Wednesday reported first-quarter earnings of $39 million.

On a per-share basis, the Omaha, Nebraska-based company said it had profit of $1.72. Earnings, adjusted for non-recurring gains, were $1.68 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The infrastructure equipment maker posted revenue of $637.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $623.8 million.

Valmont shares have climbed almost 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $152.05, a climb of 21 percent in the last 12 months.


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


Keywords: Valmont Industries, Earnings Report