BUZZ-Valmont Industries gains on annual profit forecast raise, strong Q1 sales

Valmont Industries, Inc.

Valmont Industries, Inc.

VMI

0.00

- ** Shares of Valmont Industries, a manufacturer for infrastructure and agricultural markets, rise about 53% to $463 in early trading

** Co revises FY EPS guidance to $21.50-$23.50 from $20.50-$23.50, raising the lower range

** Co reports 6.2% rise in Q1 sales, helped by pricing strength and higher volumes in North America Utility product line

** Q1 sales of $1.03 bln beat analysts' estimates of $995.9 mln, according to data compiled by LSEG

** VMI also lifts quarterly cash dividend by 13% to $0.77 per share

** As of last close, VMI stock was up 15.59% YTD