Valmont Industries (VMI) came out with quarterly earnings of $4.76 per share, beating the Zacks Consensus Estimate of $4.04 per share. This compares to earnings of $4.37 per share a year ago.
Valmont (VMI) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Valmont (VMI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Valmont (VMI) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Valmont (VMI) reported earnings 30 days ago. What's next for the stock?
Valmont Industries is expected to see revenues bottoming in the coming quarters. The company is expected to benefit from increased investments in electricity infrastructure projects, IIJA fund deployment, easing comparisons in the telecom business, and healthy agriculture orders in middle eastern markets. VMI has a healthy balance sheet and the potential for bolt-on acquisitions, which could complement organic growth.