Stock Story -
Infrastructure and agriculture equipment manufacturer Valmont Industries (NYSE:VMI) will be reporting earnings tomorrow after market hours. Here's what to expect.
Valmont met analysts' revenue expectations last quarter, reporting revenues of $977.8 million, down 8% year on year. It was a decent quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Valmont a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Valmont's revenue to be flat year on year at $1.04 billion, improving from the 7.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.15 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Valmont has missed Wall Street's revenue estimates four times over the last two years.
Looking at Valmont's peers in the building products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Apogee's revenues decreased 8.3% year on year, meeting analysts' expectations, and Simpson reported flat revenue, falling short of estimates by 1.8%. Apogee traded up 6.6% following the results.
Read the full analysis of Apogee's and Simpson's results on StockStory.
There has been positive sentiment among investors in the building products segment, with share prices up 6.5% on average over the last month. Valmont is up 2.6% during the same time and is heading into earnings with an average analyst price target of $301.7 (compared to the current share price of $280).
