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Valmont tops Street 4Q forecasts

OMAHA, Neb. (AP) _ Valmont Industries Inc. (VMI) on Tuesday reported fourth-quarter net income of $70.1 million, after reporting a loss in the same period a year earlier.

The Omaha, Nebraska-based company said it had net income of $3.10 per share. Earnings, adjusted for one-time gains and costs, came to $1.61 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.

The infrastructure equipment maker posted revenue of $674.6 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $631.8 million.

For the year, the company reported profit of $173.2 million, or $7.63 per share. Revenue was reported as $2.52 billion.

Valmont shares have risen 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $143.80, an increase of 29 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