Valmont Industrs - VMI STOCK NEWS

Valmont Industries (NYSE: VMI) announced a definitive agreement to acquire Prospera Technologies for approximately $300 million. This acquisition aims to enhance Valmont's AI-driven agricultural solutions, building on their successful partnership since 2019. The integration of Prospera's machine learning technologies is expected to increase efficiency, sustainability, and grower adoption of AI solutions significantly. The deal is anticipated to close in Q2 2021, with financing sourced from available cash and the company’s revolving credit facility.

Valmont Industries (NYSE: VMI) announced strong financial results for Q1 2021, with net sales reaching $774.9 million, a 14.9% increase from the previous year, driven by irrigation and utility structures. Operating income rose 15.4% to $77.2 million, and diluted EPS improved by 29.1% to $2.57. The company reported a record backlog of over $1.3 billion, reflecting high market demand. Additionally, Valmont raised its quarterly dividend by 11% and generated $33.2 million in cash flow, ending the quarter with cash reserves of $391.5 million.

Valmont Industries (NYSE: VMI) will host a virtual Investor Day on May 20, 2021, at 8:30 a.m. ET. Leadership, including CEO Stephen G. Kaniewski and CFO Avner M. Applbaum, will discuss business drivers, growth strategies, and ESG initiatives. Attendees can register for the live webcast via the Investor Relations webpage. Following the event, a replay will be available online. Valmont, a leader in infrastructure and agricultural solutions, focuses on innovation and efficient resource management, making it a pivotal player in global markets.

Valmont Industries, Inc. (NYSE: VMI) will host its Q1 2021 earnings conference call on April 22, 2021, at 8:00 a.m. CDT. The earnings results will be announced after market close on April 21, 2021. The call will feature executives Stephen G. Kaniewski and Avner M. Applbaum, accessible via phone or webcast. A presentation will be available on the Investors page of Valmont's website. A replay will be accessible post-event through April 29, 2021. Valmont specializes in engineered products and services that support infrastructure and agricultural productivity.

Valmont Industries (NYSE: VMI) announced a quarterly cash dividend increase to $0.50 per share, marking an 11% rise from the previous $0.45. This brings the annualized rate to $2.00 per share, payable on April 15, 2021, to shareholders of record on March 26, 2021. CEO Stephen G. Kaniewski expressed confidence in the company's cash flow and commitment to returning capital to shareholders while pursuing long-term growth through strategic investments.

Valmont Industries (NYSE: VMI) reported a strong fourth quarter for 2020 with net sales of $798.4 million, a 16.8% increase year-over-year, primarily driven by its Irrigation and Utility Support Structures segments. Operating income stood at $54.1 million (6.8% of sales), while diluted EPS improved to $1.68. The company established a record backlog exceeding $1.1 billion and initiated shipments for a $240 million irrigation contract in Egypt. However, challenges included a decrease in sales from Engineered Support Structures and Coatings, heavily impacted by COVID-19.

Valmont Industries (NYSE: VMI) will host its fourth quarter and full year 2020 earnings call on February 18, 2021, at 8:00 a.m. CST. A news release detailing financial results will be issued after market close on February 17, 2021. The call will feature remarks from Stephen G. Kaniewski, President and CEO, and Avner M. Applbaum, EVP and CFO. Participants can join via telephone or through a webcast on Valmont's investors' page. A replay will be available shortly after the call until February 25, 2021.

Valley Irrigation, a Valmont company (NYSE: VMI), has launched a joint venture with Kusto Group in Kazakhstan aimed at enhancing sustainability in agriculture. This strategic initiative will introduce advanced irrigation technology to local farmers, positioning Kazakhstan as a potential agricultural hub in Central Asia. The agreement includes the construction of a plant for manufacturing Valley irrigation equipment, with a production goal of at least 1,000 machines annually. This partnership aims to improve water efficiency and crop yields, vital for the country's agricultural growth.