OMAHA, Neb., March 6, 2018 /PRNewswire/ -- Valmont Industries,
Inc. (NYSE: VMI), a leading global
provider of engineered products and services for infrastructure and
irrigation equipment and services for agriculture, is hosting an
investor day today, March 6, 2018 in
New York City.
President and Chief Executive Officer Stephen G. Kaniewski and senior management will
present a business outlook and outline their strategies for growth,
including geographic expansion, market adjacencies, and new
products and services. Additionally, Mark
C. Jaksich, Executive Vice President and Chief Financial
Officer, will provide a financial outlook and capital allocation
framework.
"We are pleased to host Valmont's investor day and provide a
deeper understanding of how our management team is reshaping the
organization to align with growth opportunities, and expanding our
addressable market to leverage our global platform. It's an
exciting time for Valmont, and we are well-positioned to achieve
our financial targets," said Mr. Kaniewski.
The Company is reaffirming its full-year 2018 guidance of
diluted EPS of approximately $7.70
and adjusted diluted EPS of approximately $8.00.
In addition, the Company is reaffirming its long-term financial
goals, and introducing a new goal for operating margin for the same
period.
Long-Term Targets
- Revenue growth of 5% to 10%
- EPS growth of > 10%
- Return on Invested Capital of > 10%
- Free Cash Flow Conversion of > 1.0x Net Earnings
- Operating Margin of > 12%
The presentation, which includes question and answer sessions,
will begin promptly at 8:30 a.m. (ET)
and is expected to conclude at approximately 12:15 p.m. A link to the webcast and presentation
materials can be found on the Valmont's home page
www.valmont.com.
Valmont is a global leader, designing and manufacturing highly
engineered products that support global infrastructure development
and agricultural productivity. Its products for infrastructure
serve highway, transportation, wireless communication, electric
transmission, and industrial construction and energy markets. Its
irrigation equipment for large scale agriculture improves farm
productivity while conserving fresh water resources. In addition,
Valmont provides coatings services that protect against corrosion
and improve the service lives of steel and other metal
products.
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, 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.
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SOURCE Valmont Industries, Inc.