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FULL YEAR: VALMONT'S SALES UP 21%, EARNINGS UP 34% TO $235 MILLION
Source: Valmont Industries news release

OMAHA, Neb.--Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today reported financial results for the fourth quarter and fiscal year ended December 25, 2021.

Full Year 2021 Highlights (all metrics compared to Full Year 2020 unless otherwise noted)

*Record Net Sales of $3.5 billion, an increase of 20.9%

*Sales growth in all segments, led by Irrigation which grew 59.3% to a record $1.03 billion

*Operating income improved to $286.8 million or 8.2% of sales ($334.0 million or 9.5% adjusted1), compared to $226.0 million or 7.8% of sales ($268.5 million or 9.3% adjusted1)

*Higher operating income was led by favorable pricing and higher volumes, including significant volume growth in Irrigation, and operating margins of nearly 11.0% in Engineered Support Structures

*Diluted EPS of $9.10 ($10.92 adjusted1) compared to $6.57 ($8.18 adjusted1)

*Capital expenditures were $108.0 million, including approximately $45.0 million for strategic investments, which included a new spun concrete utility distribution pole facility in Bristol, Indiana, capacity expansion of infrastructure facilities in Mexico, and technology investments across the organization, all to support global market growth

*Deployed $313.0 million of cash for two acquisitions, both in the Irrigation segment: Prospera Technologies Ltd. and PivoTrac, accelerating the Company's global Ag Tech growth strategy

To read the entire report click here.


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