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Valmont beat second-quarter expectations with net sales up 6.5% to $1.12 billion and diluted EPS up 25.8% to $6.14, driven mainly by strong Infrastructure performance. Management said the company is executing well and raised its full-year sales and earnings outlook.
Infrastructure was the key growth engine, led by 33.9% growth in North America Utility and 16.6% growth in Coatings. Demand tied to grid modernization, power needs, data centers and electrification is helping support a multiyear investment cycle.
Agriculture remains weak, especially overseas, with sales down 15.8% as North American farm spending stayed cautious and Middle East projects were delayed by conflict. Even so, the segment's operating margin improved to 16.5% on cost discipline, and Valmont still expects full-year Agriculture sales to hold steady.
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Valmont Industries (NYSE:VMI) reported higher second-quarter 2026 sales and earnings, driven by strength in its Infrastructure segment, particularly North America Utility and Coatings, while Agriculture remained pressured by weaker equipment demand and delayed projects in the Middle East.
President and CEO Avner Applbaum said the company delivered "a strong second quarter" reflecting execution of its strategy. He cited a 6.5% increase in net sales, a 130-basis-point expansion in adjusted operating margin and a 25.8% increase in adjusted earnings per share. Based on the results, Valmont raised its full-year sales and earnings outlook.
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"Infrastructure delivered another high-quality quarter, led by 34% growth in North America Utility and 17% growth in Coatings," Applbaum said. He added that commercial execution, pricing discipline and investments in capacity and throughput helped convert customer demand into profitable growth.
Executive Vice President and CFO John Schwietz said consolidated net sales rose 6.5% year over year to $1.12 billion. Operating income increased to $166.1 million, while operating margin expanded to 14.8%. Diluted earnings per share rose 25.8% to $6.14. Schwietz said the tax rate remained steady at approximately 26%.
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