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Valmont Industries' 1Q Profit Jumps 21 Percent

Stock quotes in this article: VMI  

OMAHA, Neb. (AP) — Strong North American sales of steel and concrete structures for electric utilities helped the diversified manufacturer Valmont Industries Inc. post a 21 percent increase in first-quarter earnings.

The results reported after the market closed Thursday beat Wall Street expectations, and Valmont shares climbed $8.92, or 16.1 percent, to $64.22 in afternoon trading Friday.

For the three months ended March 28, net income rose to $35.9 million, or $1.37 per share, from $29.7 million, or $1.13 per share, a year earlier. ...

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