Wherever you live, whatever you do, chances are Valmont is part of your life. Lighting and traffic poles guide your way. Utility poles bring power to your home and business. Communication poles and towers enable your wireless communications. Irrigation equipment brings much-needed water to cropland while conserving fresh water resources. And our long-lasting finishes improve products around the world every day.
Valmont is recognized throughout the world as an industry leader in engineered support structures and services for infrastructure, and water management for agriculture. We grow our businesses by leveraging our existing products, markets and processes. We recognize that our growth will only create shareholder value if, at the same time, we exceed our cost of capital. Essential to our success is a company-wide commitment to customer service and innovation, and the ability to be the best cost producer for all products and services we provide. Recognizing that our employees are the cornerstone of our accomplishments, we pride ourselves on being people of passion and integrity who excel and deliver results.
We have created this website to give you – our customers and investors – a window into our company. Valmont Industries has grown with a constant goal of being market leaders in the infrastructure and agriculture businesses. This site is a simple way to access the information you need.
Valmont Industries began in 1946 when our founder, Robert B. Daugherty combined his $5,000 savings and wholehearted belief that business could and should be done better.
Valmont's Board, Officers, and Management team.
Valmont Industries develops products in several overarching business segments to help meet communities' needs for quality infrastructure and sustainable agriculture - safely and efficiently bringing order, light, power and water to new and existing markets.
Wherever you are, whatever you do, Valmont is not far away. In fact, with 92 manufacturing facilities around the world, we may be closer than you think. By working and living near our customers, we better understand their needs, and they better understand our capabilities. That makes for stronger partnerships, and ultimately, a better world.
Valmont believes that companies that monitor and measure their practices with an eye toward the environment will become better companies and stronger competitors. We have an obligation to be good stewards of our resources.
A career with Valmont is a career with a future! We're an international manufacturing company with employment opportunities around the world for qualified candidates.
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With Valmont locations all over the world, we are sure to have someone close to help you with our products and services.
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We are a diversified global producer of fabricated metal products and are a leading producer of steel and aluminum pole, tower and other structures in our Engineered Infrastructure Products (EIP) segment, steel and concrete pole structures in our Utilities Support Structures (Utility) segment and are a global producer of mechanized irrigation systems in our Irrigation segment. We also provide metal coating services, including galvanizing, painting and anodizing in our Coatings business.
At Valmont, we do do more than manufacture structures. We design and build highly engineered products that make life better, structures that are engineered for life. With more than 50 years of experience in the structures industry, Valmont has the knowledge, expertise, and resources to provide the highest-quality products and services in the industry. And, we do it on time and at a competitive price.
As the country's only provider of spun concrete, tubular steel and hybrid poles for the power delivery industry, Valmont-Newmark offers utility engineers a seamless blend of custom solutions for diverse applications in their power delivery projects, maximizing their economic benefits.
With products that set the standard for innovation and quality, Valmont Irrigation is the worldwide leader in precision irrigation and technology. Valley brand products are based on a vision of merging advanced technology with high functionality in order to meet customer needs.
Valmont Coatings is among the country's largest custom galvanizers, serving steel fabrication markets from coast to coast. In addition, our powder coating capabilities provide a high-performance alternative to galvanizing that forms a tough, colorful coating on steel products. Finally, our anodizing capabilities protects aluminum with a wide range of surface finishes that enhance resistance to abrasion and corrosion and reduce surface electrical conductivity.
Access Systems including grating and handrailing are equally at home in industrial, commercial, municipal and general applications.
Our product range includes road safety barriers, carpark & industrial barriers, workzone & traffic control products, delineation & guideposts and fencing products.
Our metallurgists turn steel into specialised grinding media and fasteners. These products don’t simply reduce the particle size of rock, they maximise the long term processing efficiency of any given grinding circuit, minimise mill down-time and contribute to mine profitability.
With one of the broadest size ranges of electric resistance welded steel tubing sizes and finishes in round, square, rectangle & special shapes, Valmont Tubing has been providing solutions for our customers for over 50 years. In addition, HSS SuperStruct custom structural tube sections are produced in square, rectangle and special shapes up to 60” providing Architects and Structural Engineers with unparalleled design flexibility for their projects.
Valmont services the lighting and commercial structures markets with products such as advertising signs, area lighting poles and towers, custom poles, towers, and sign structures, camera and security structures, decorative light poles and lamp posts, extrusions, flag poles, functional lighting, high-mast towers, pole inspections and services, sports lighting, street lighting, and terminal facility lighting.
Valmont provides a wide range of products for the Civil Infrastructure market including lighting, gantry signage, traffic control, hybrid applications, homeland security, pedestrian bridge tube sections, utility structures, telecommunications, road safety barriers, drainage systems, fasteners, metal coatings, utility poles, telecom poles, and galvanizing services.
Valmont provides products for a wide range of transportation structures markets including traffic sign, traffic signal, mass transit, decorative light poles and lamp posts, custom poles, towers, and signs, high-mast light towers, street lighting, wayfindings, and pole inspections and services.
Valmont offers products and solutions across the Wireless Structures market including wireless communication towers, components, custom poles, towers, and structures and inspection services.
Valmont Coatings George Industries is among the nation's leading aerospace and mil spec metal finishers.
From center pivot and linear irrigation to ag technology, growers know that getting water to their crops when and where it’s needed is key for increased yields.
Valmont offers a variety of products and solutions for the Building Infrastructure market including access systems, handrailing, architectural screens, grating and expanded metals, lintels, metal coatings, industrial tubing, pneumatic tubing, construction tubing, fasteners, and galvanizing services.
Valmont offers innovative solutions to a variety of utility customers including Investor Owned Utilities, Municipal Electric Systems, Government Owned Electrical Utilities, Rural Electric Cooperatives and Engineering, Procurement & Construction Companies.
We work with our customers with an unmatched commitment to support the utility industry. To ensure your projects success in this time of ever-increasing demand, you need to partner with Valmont, a proven performer.
Please Read More about some of the financial highlights of Valmont Industries, Inc.
Essential to our success is a company-wide commitment to customer service and innovation, and the ability to be the best cost producer for all products and services we provide. Recognizing that our employees are the cornerstone of our accomplishments, we pride ourselves on being people of passion and integrity who excel and deliver results.
Valmont is pursuing opportunities for growth by leveraging our products and
services, knowledge of new and existing markets, and capabilities; while
consistently delivering value for our customers. True to our vision, we focus
product and process innovations on the global markets for infrastructure
and agriculture to maximize our strengths.
Valmont Industries, Inc. quarterly results.
Valmont Industries, Inc. investor relations calendar.
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The primary responsibility of the Board is to oversee the business affairs of Valmont Industries. The Board exercises its business judgment to act in what each director reasonably believes to be the best interests of Valmont Industries and its stockholders.
At Valmont, we do do more than manufacture structures. We design and build highly engineered products that make life better-structures that are engineered for life.
Valmont offers utility engineers a seamless blend of custom solutions for diverse applications in their power delivery projects, maximizing their economic benefits.
Valmont Coatings is among the country's largest custom galvanizers, serving steel fabrication markets from coast to coast. In addition, our powder coating capabilities provide a high-performance alternative to galvanizing that forms a tough, colorful coating on steel products.
With products that set the standard for innovation and quality, Valmont Irrigation is the technology leader in precision irrigation worldwide. For over 55 years, Valley has developed products based on a vision of merging advanced technology with high functionality in order to meet customer needs.
Valmont's other activities include the manufacture of forged steel grinding media for the mining industry, tubular products for a variety of industrial customers, electrolytic manganese dioxide for disposable batteries and the distribution of industrial fasteners.
With products that set the standard for innovation and quality, Valley Irrigation is the technology leader in center pivot and linear precision irrigation worldwide.
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Valmont Promotions. Learn more here.
Whether you're a grower, architect, or just looking for something new to learn, Valmont has a video for you on one of their many YouTube Channels.
Third quarter sales increased 7% and operating income rose 22% for a record third quarter.
Third quarter operating income as a percent of sales rose to 14.1% compared with 12.4% for the same period in 2012.
The Engineered Infrastructure Products and Utilities Segments made the greatest contributions to the quarterly operating income improvement.
A decrease in the U.K. tax rate required a reduction in deferred tax assets and an increase in third quarter tax expense. This lowered net earnings by $8.3 million, or $0.31 in fully diluted earnings per share. As a result, reported diluted earnings per share were $2.10 and adjusted for the non-cash deferred tax asset reduction, diluted earnings per share were $2.41. (See table page 7)
Omaha, NE - Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure and mechanized irrigation equipment for agriculture, reported third quarter sales of $778.0 million compared with $729.8 million for the same period of 2012. Third quarter 2013 operating income was $109.9 million versus $90.4 million in 2012. Including the impact of a non-cash income tax expense, third quarter net income was $56.5 million versus $56.7 million in 2012, which resulted in quarterly diluted earnings per share of $2.10 compared to $2.12 in 2012.
Third Quarter Review:
“Sales and earnings comparisons were positive in each reportable segment,” said Mogens C. Bay, Valmont’s Chairman and Chief Executive Officer. “Gross profit margins increased due to improved sales mix and pricing in certain markets combined with somewhat lower input costs. This increase, plus improved operating leverage, drove operating profit improvement.
“Achieving 14.1% operating income as a percent of sales in a third quarter is a record,” said Mogens C. Bay, Valmont’s Chairman and Chief Executive Officer. “This is the result of good performances in our all of our segments, including significant improvement in the Engineered Infrastructure Products Segment, which continues to face challenges in several markets.”
Third Quarter Segment Review:
Utility Support Structures Segment (30% of 3rd Quarter Sales)
Steel and concrete structures for the global electric utility industry.
Utility sales of $229.4 million were 5% higher than 2012. Substantial utility investment in the North American transmission grid continues to drive increased demand. Late in the third quarter, at the request of customers, some shipments were deferred into the fourth quarter. Utility sales in international markets, which remain project based, declined.
Increasing transmission grid reliability is a national priority. Regulatory measures effected in 2005 and 2010 created a compelling framework for substantial new investment in transmission infrastructure. Enhancing the interconnectivity of regional grids, and accommodating increased use of renewable energy sources are additional drivers of demand. Valmont believes the size of these opportunities combined with our market leadership, should result in further growth over the next few years.
Operating income rose 37% to $41.5 million, which represents 18.1% of segment sales. The increase in operating income was due to increased SG&A leverage, sales mix, and improved gross profit margins.
Irrigation Segment (23% of 3rd Quarter Sales)
Center pivot and linear move mechanized irrigation equipment and parts for agriculture in global markets.
Irrigation Segment sales increased 12% to $175.1 million, led by strong North American demand. Sales in international markets also improved. Despite lower third quarter crop prices than last year, the outlook among farm customers remained positive and drove sales increases above last year’s record levels.
Over 80% of global irrigated acres still use less efficient flood methods rather than efficient mechanized irrigation equipment. This creates tremendous long-term market opportunities for Valmont’s irrigation segment. Population growth, improved diets and competing demands for water are additional factors that will drive the need for more efficient mechanized irrigation use over time.
Operating income rose 15% to $31.1 million resulting in operating income as a percent of sales of 17.8%.
Engineered Infrastructure Products Segment (33% of 3rd Quarter Sales)
Lighting, traffic and highway safety products, wireless communication structures and components, and industrial gratings and access systems worldwide.
Third quarter sales were $260.3 million, a 6% increase over 2012. Sales gains reflect increases in North America and Europe as well as the addition of $16.8 million in revenue from the February 2013 acquisition of the Locker Group in Australia.
In North America, lighting and traffic products sales were flat with last year. Wireless communication product sales increased over last year reflecting increased carrier investment in 4G infrastructure to support the increased network demands of data.
In Europe, lighting and traffic product sales were comparable to last year.
In the Asia-Pacific region, additional sales from acquired businesses more than offset declines in engineered access systems sales in Australia. Lighting and traffic products revenues in the region increased, while wireless communication product sales declined.
Operating income increased 37% to $25.7 million, or 9.9% of segment sales. This increase was driven by improved operating productivity, increased demand for wireless communication products in North America, improved cost structures in North America and Europe, and the contribution of the Locker Group.
Coatings Segment (11% of 3rd Quarter Sales)
Hot-dip galvanizing, and other coatings to protect against corrosion of steel and aluminum in global markets.
Sales of $89.0 million were 6% higher than last year. North American sales rose due to $9 million revenue contribution from the acquisition of a Canadian galvanizer in December, 2012 and increased internal demand. Sales declined in the Asia Pacific region due to softer market conditions in Australia and the slight revenue loss from a divestiture during the second quarter.
Operating income increased 7% to $19.8 million, or 22.3% of segment sales which was similar to last year’s levels.
“Looking to the fourth quarter, new capacity coming on-line in the Utility Support Structures Segment combined with a strong backlog should lead to record fourth quarter segment results. In the Irrigation Segment, we expect a good quarter, although not to last year’s levels as a later harvest in North America will likely reduce customer traffic in dealerships. We expect our Coatings business to continue its good performance. In the Engineered Infrastructure Products Segment, our outlook is for positive comparisons in sales and operating income. In summary, we expect full-year diluted earnings of approximately $11.00 per share, even after absorbing the $0.31 in higher tax expense this quarter.
“Looking to 2014, at this early juncture our expectations are for continued improvement in the Utility Support and Engineered Infrastructure Support segments. Market demand should result in continued strength in the Coatings Segment. For the Irrigation Segment, it remains too early to assess the outlook for 2014.
“We believe that the long term drivers present in our two core markets, engineered products for infrastructure and efficient irrigation equipment for agriculture provide compelling, global and enduring opportunities for Valmont’s continued growth going forward,” concluded Mr. Bay.
An audio discussion of Valmont’s third quarter results by Mogens C. Bay, Chairman and Chief Executive Officer and Terry J. McClain, Executive Vice President and Chief Financial Officer, will be available live by telephone by dialing 1-877-493-2981 and entering Conference ID#: 98704886 or via the Internet at 8:00 a.m. CDT October 18, 2013, by pointing browsers to: http://www.valmont.com/page.aspx?id=445&pid=21. After the event you may listen by accessing the above link or by telephone. Dial 1-855-859-2056 or 404-537-3406, and enter the Conference ID#: 98704886 beginning October 18, 2013 at 10:00 a.m. CDT through 12:00 p.m. CDT on October 25, 2013.
Valmont is a global leader in designing and manufacturing poles, towers and structures for lighting and traffic, wireless communication and utility markets, industrial access systems, highway safety barriers and a provider of protective coating services. Valmont also leads the world in mechanized irrigation equipment for agriculture, enhancing food production while conserving and protecting natural water resources. In addition, Valmont produces a wide variety of tubing for commercial and industrial applications.
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, risk factors described from time to time in Valmont’s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.