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 Jul. 23, 2025 Source: Valmont Industries news release OMAHA, Neb.-- Valmont Industries, Inc. (NYSE: VMI), a global leader that provides products and solutions to support vital infrastructure and advance agricultural productivity, today reported financial results for the second quarter ended June 28, 2025. President and Chief Executive Officer Avner M. Applbaum commented, "We delivered a solid quarter operationally, with continued strength in Utility, Telecommunications, and International Agriculture. Our teams executed well, driving volume growth in key markets while advancing our long-term strategy. We remain focused on our key value drivers: capturing infrastructure demand by expanding Utility capacity and throughput, positioning our Agriculture segment for long-term growth through international expansion and technology solutions, and maintaining disciplined capital and resource allocation. This quarter, we completed the realignment work that we began when I became CEO in July 2023. We took decisive steps to streamline the organization and refine our product portfolio, resulting in one-time charges that contributed to a GAAP loss for the quarter. These were purposeful changes designed to increase agility, bring operations closer to our commercial teams, and sharpen our focus on higher-return growth opportunities, improving time to market and customer responsiveness. "With these changes, we're operating with greater clarity and speed. Looking ahead, we're now focused on scaling innovation, investing in growth, and driving greater efficiency across the business. I'm incredibly proud of how our teams continue to live our core values and deliver meaningful results for our shareholders." Second Quarter 2025 Highlights (all metrics compared to Second Quarter 2024 unless otherwise noted1) *Net sales increased 1.0% to $1.05 billion, compared to $1.04 billion; sales growth in Utility, Telecommunications, and International Agriculture was offset by lower sales in Solar and North America Agriculture *Operating income of $29.3 million or 2.8% of net sales ($141.4 million or 13.5% adjusted), compared to $147.3 million or 14.2% of net sales *Operating cash flows increased 28.1% to $167.6 million, compared to $130.8 million The Company recorded one-time charges of $112.1 million, consisting of: Non-cash long-lived asset impairment charges of $91.3 million, including: *$71.1 million for goodwill and intangibles related to the Solar and Access Systems businesses *$20.2 million for other assets that will no longer be utilized *Cash realignment charges of $9.8 million, primarily severance-related *Other non-recurring charges of $10.9 million, primarily costs to fulfill contractually required payments for system licenses no longer needed To read the entire report click here. Tweet |
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