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Dividend.com: Valmont Beats Again
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Valmont Industries Smashes Estimates with Record Quarterly Profit
Diversified metals products company Valmont Industries(VMI Quote) posted a record quarterly profit Friday, easily beating analyst estimates and sending its shares rocketing 16%.
The Omaha, Neb.-based company, which fabricates concrete and metal products used in infrastructure, reported fiscal first-quarter profit of $35.9 million, or $1.37 per share, up 20% from $29.7 million, or $1.13 per share, in the year-ago period.
On average, Wall Street analysts expected a profit of $1.08 per share. This report marks the fifth consecutive time the company has beat earnings estimates. ...
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