Valmont Industries Lifts FY22 Outlook

(RTTNews) - Manufacturing company Valmont Industries, Inc. (VMI) on Wednesday raised its outlook for fiscal 2022.

The company now expects earnings of $12.90-$13.30 per share, higher than the earlier estimate of $12.30-$12.80 per share for fiscal 2022.

Excluding items, earnings per share is now expected between $13.60 and $14.00. Previously, the company was looking at adjusted earnings per share between $13.00 and $13.50.

On average, 6 analysts polled by Thomson Reuters expect the company to post earnings of $13.06 per share in the year ahead.

The company now expects net sales growth of 20-21 percent, higher than the earlier estimate of 11-17 percent. Valmont attributes the revised net sales growth to favorable pricing to offset continued broad-based inflation.