Valmont Industries reported strong financial results for the fourth quarter and full fiscal year ended December 28, 2024, achieving record diluted earnings per share for the full year. Fourth-quarter net sales increased 2.1% to $1,037.294 million compared to the prior year, with diluted EPS rising 178.3% to $3.84.
For the full fiscal year 2024, net sales were $4,075.034 million, a 2.4% decrease from 2023, but diluted earnings per share reached a record $17.19, marking a 153.5% increase. The company also generated strong operating cash flows of $573 million for the full year, demonstrating robust financial health.
The Infrastructure segment's Q4 sales increased 2.1% to $763.6 million, driven by 5.9% growth in Utility sales and significant increases in Telecommunications sales. This growth was partially offset by a significant decline in Solar sales due to the strategic exit from certain low-margin projects. Operating income for Infrastructure increased to $122.0 million, or 16.0% of net sales.
Agriculture segment sales increased 2.3% to $278.0 million in Q4, with strong international growth in EMEA and Brazil offsetting slightly lower North American volumes. Operating income for Agriculture rose to $28.5 million, or 10.3% of net sales, reflecting reduced SG&A expenses. Valmont introduced its full-year 2025 financial outlook, projecting net sales between $4.0 billion and $4.2 billion and diluted earnings per share between $17.20 and $18.80, with capital expenditures expected to be $140 million to $160 million.
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