Valmont Industries gains on raising annual profit forecast

Valmont Industries

20/04/2023 22:45

** Shares of Valmont Industries Inc  VMI.N  up 3.6% at
$312.50 after the bell
    ** VMI raises FY forecast as it now expects full-year adj.
profit between $15.45-$16.00 per share, up from its previous
outlook of $15.35-$15.90 per share 
    ** Reiterates its previous forecast for FY net sales growth
at 4%-7%
    ** Reports rise in Q1 infrastructure and agriculture sales
    ** Posts Q1 adj. profit of $3.61/shr, above analysts' ests
of $3.33/shr - Refinitiv
    ** Sales rose 8.3% to $1.06 bln, above analysts' est. of
$1.04 bln for the quarter
    ** As of last close, stock down ~8.8% YTD 

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))