Modest Sales Growth
Sales grew modestly, driven by strength in utility, telecom, and international agriculture, reflecting the resilience of the Valmont team.
Strong Utility and Telecom Performance
Utility sales increased by 5.4%, driven by higher volumes and pricing actions, while telecommunications saw over 40% sales growth due to successful product alignment with key carrier programs.
International Agriculture Success
International agricultural sales increased by 22%, with strong execution in key international markets, particularly in the EMEA region.
Strong Cash Flow and Liquidity
Operating cash flows reached $167.6 million, with $208.5 million in cash and no borrowings under the revolving credit facility, highlighting strong cash and working capital management.
Positive Long-term Outlook
The company expects annualized savings of $22 million by 2026 and is well-positioned to capture the infrastructure wave, with initiatives to deliver $500 to $700 million in revenue growth and $7 to $12 in additional EPS over the next three to four years.