Overview

• US infrastructure and irrigation supplier's Q2 revenue rose 6.5%, beating analyst expectations

• Company raised full-year 2026 net sales and EPS outlook

Outlook

• Valmont raises full-year 2026 net sales outlook to $4.3-$4.45 bln from $4.2-$4.4 bln

• Company lifts Infrastructure net sales forecast to $3.4-$3.5 bln for 2026

• Valmont expects 2026 diluted EPS of $22.25-$23.50, up from $21.50-$23.50

Result Drivers

• INFRASTRUCTURE GROWTH - Higher sales in North America Utility and Coatings, supported by favorable pricing and increased volumes, drove Infrastructure segment growth

• AGRICULTURE WEAKNESS - Agriculture segment sales declined due to market softness in North America and international disruptions from the Middle East conflict

• PRICING DISCIPLINE AND COST MANAGEMENT - Company cited pricing discipline and operational execution as helping offset lower Agriculture volumes

Company press release: ID:nBw2KTXzRa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Net Sales		$1.12 bln
Q2 Adjusted Net Sales	Beat	$1.12 bln	$1.09 bln (6 Analysts)
Q2 EPS		$6.14
Q2 Net Earnings Attributable to VMI		$119.92 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction & engineering peer group is "buy"

• Wall Street's median 12-month price target for Valmont Industries Inc is $600.00, about 14.1% above its July 20 closing price of $525.88

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 18 three months ago

Reuters Recommended Reads

* July 20 - Steel Dynamics' second-quarter profit jumps on record shipments, improved pricing

* July 21 - 3M lifts annual profit forecast as industrial unit remains resilient

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.