OMAHA, Neb.--(BUSINESS WIRE)--Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today will host its virtual Investor Day beginning at 8:30 a.m. Eastern Time.
Stephen G. Kaniewski, President and Chief Executive Officer, Avner M. Applbaum, Executive Vice President and Chief Financial Officer, and other members of the senior management team will provide an in-depth review of the Company’s business drivers and long-term growth strategies, including innovation through new products and technology, ESG initiatives and capital allocation.
“We are excited to host Valmont’s 2021 Investor Day and provide an update on our accomplishments since our 2018 Investor Day, in addition to providing a deeper understanding of how our management team is accelerating technology and innovation, ESG and operational excellence across the organization. We have strong momentum and are well-positioned to execute against our strategy and drive long-term stakeholder value creation,” said Mr. Kaniewski.
Today, the Company is raising its full-year 2021 diluted EPS guidance from $9.00 - $9.70 to $9.30 - $10.00. In addition, the Company is defining its 3 - 5 Year Financial Targets.
Raising 2021 EPS Outlook
- Net Sales estimated to increase 9 - 14% vs. prior year
- Irrigation segment sales estimated to increase 27 - 30% vs. prior year
- Diluted Earnings per Share estimated to be $9.30 - $10.00
Defining 3 - 5 Year Financial Targets (from Base Year 2020)
- Revenue CAGR of 7 - 12%
- Operating Margin of >12%
- EPS CAGR of 13 - 15%
- Return on invested Capital (ROIC) of >11%
- Free Cash Flow Conversion of >1.0x Net Earnings (over the 5-year period)
Event Webcast Details
A live webcast of the presentations, including two question and answer sessions, will begin at 8:30 a.m. Eastern Time and conclude at approximately 12:30 p.m. The presentations and webcast can be accessed from the Valmont 2021 Investor Day Event Site. Registration for the live event is required and can be completed on the Registration Site. A replay of the webcast will be available on the Investor Relations webpage following the event.
About Valmont Industries, Inc.
Valmont® is a global leader, designing and manufacturing highly engineered products and services that support global infrastructure development and agricultural productivity. Its irrigation equipment and services for large-scale agriculture improve farm productivity while conserving fresh water resources. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. In addition, Valmont provides coatings services that protect against corrosion and improve the service life of steel and other metal products. For more information, visit valmont.com.
Concerning Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, the continuing and developing effects of COVID-19 including the effects of the outbreak on the general economy and the specific economic effects on the Company’s business and that of its customers and suppliers, risk factors described from time to time in Valmont’s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.