Valmont Industries, Inc. (VMI - Free Report) generated profits of roughly $36.5 million or $1.66 per share in first-quarter 2019, down from around $39.3 million or $1.72 in the year-ago quarter.
Barring one-time items, adjusted earnings in the quarter were $1.84 per share which beat the Zacks Consensus Estimate of $1.67.
Net sales in the quarter totaled $692.1 million, down roughly 0.9% year over year. The figure topped the Zacks Consensus Estimate of $677.2 million.
Segment Highlights
Infrastructure-Related
Sales in the Engineered Support Structures segment totaled $230.3 million, up around 2.4% year over year. The upside can be attributed to improved pricing across the segment along with higher volumes in North America.
Sales in the Utility Support Structures rose roughly 16.2% year over year to $243.9 million, supported by sales of solar tracker structures from the Convert Italia buyout. Pricing actions also drove the top line.
Sales in the Coatings segment rose 2.2% year over year to $86.8 million. Per the company, sales generated from the recent acquisitions along with pricing actions boosted sales in the segment.
Agriculture-Related
Sales in the Irrigation unit amounted to $152.8 million, down around 18.7% year over year. Sales in North America were $108.5 million, lower than $109.9 million in the year-ago quarter.
Financial Position
Valmont ended the first quarter with cash and cash equivalents of $211.2 million, down roughly 56% year over year. Long-term debt at the end of the year was $741.6 million.
Outlook
The company has narrowed earnings per share expectation for 2019 to the range of $8.30-$8.90, from $8.10-$8.90.
It continues to expect revenue growth of 7-8% year over year in 2019. Capital spending for the year is unchanged from prior forecast of $90-$100 million.
Price Performance
Valmont’s shares have lost around 5.4% in the past year compared with the industry’s 18.4% decline.
Zacks Rank & Other Key Picks
Valmont currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space include Sandstorm Gold Ltd. (SAND - Free Report) , Flexible Solutions International Inc (FSI - Free Report) and W. R. Grace & Co .
Sandstorm Gold has an expected earnings growth rate of 200% for the current year and sports a Zacks Rank #1 (Strong Buy). The company’s shares have gained around 12.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Flexible Solutions has an expected earnings growth rate of 171.4% for the current year and carries a Zacks Rank #2. Its shares have surged roughly 102.2% in the past year.
W. R. Grace has an expected earnings growth rate of 10.4% for the current year and carries a Zacks Rank #2. Its shares have gained around 9.8% in the past year.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Valmont Industries, Inc. (VMI - Free Report) generated profits of roughly $36.5 million or $1.66 per share in first-quarter 2019, down from around $39.3 million or $1.72 in the year-ago quarter.
Barring one-time items, adjusted earnings in the quarter were $1.84 per share which beat the Zacks Consensus Estimate of $1.67.
Net sales in the quarter totaled $692.1 million, down roughly 0.9% year over year. The figure topped the Zacks Consensus Estimate of $677.2 million.
Segment Highlights
Infrastructure-Related
Sales in the Engineered Support Structures segment totaled $230.3 million, up around 2.4% year over year. The upside can be attributed to improved pricing across the segment along with higher volumes in North America.
Sales in the Utility Support Structures rose roughly 16.2% year over year to $243.9 million, supported by sales of solar tracker structures from the Convert Italia buyout. Pricing actions also drove the top line.
Sales in the Coatings segment rose 2.2% year over year to $86.8 million. Per the company, sales generated from the recent acquisitions along with pricing actions boosted sales in the segment.
Agriculture-Related
Sales in the Irrigation unit amounted to $152.8 million, down around 18.7% year over year. Sales in North America were $108.5 million, lower than $109.9 million in the year-ago quarter.
Financial Position
Valmont ended the first quarter with cash and cash equivalents of $211.2 million, down roughly 56% year over year. Long-term debt at the end of the year was $741.6 million.
Outlook
The company has narrowed earnings per share expectation for 2019 to the range of $8.30-$8.90, from $8.10-$8.90.
It continues to expect revenue growth of 7-8% year over year in 2019. Capital spending for the year is unchanged from prior forecast of $90-$100 million.
Price Performance
Valmont’s shares have lost around 5.4% in the past year compared with the industry’s 18.4% decline.
Zacks Rank & Other Key Picks
Valmont currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space include Sandstorm Gold Ltd. (SAND - Free Report) , Flexible Solutions International Inc (FSI - Free Report) and W. R. Grace & Co .
Sandstorm Gold has an expected earnings growth rate of 200% for the current year and sports a Zacks Rank #1 (Strong Buy). The company’s shares have gained around 12.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Flexible Solutions has an expected earnings growth rate of 171.4% for the current year and carries a Zacks Rank #2. Its shares have surged roughly 102.2% in the past year.
W. R. Grace has an expected earnings growth rate of 10.4% for the current year and carries a Zacks Rank #2. Its shares have gained around 9.8% in the past year.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on VMI - FREE
Get the latest research report on SAND - FREE
Get the latest research report on FSI - FREE