Last $135.85 USD
Change Today -1.55 / -1.13%
Volume 1.2M
VMI On Other Exchanges
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New York
As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

valmont industries (VMI) Key Developments

Valmont Industries, Inc. Revises Earnings Guidance for the Full Year of 2014

Valmont Industries, Inc. revised earnings guidance for the full year 2014. The company's prior guidance for 2014 indicated earnings of between $9.35 and $9.65 per diluted share, which excluded the effect of stock repurchasing program on earnings per share and any one-time adjustments that may take place during the remainder of the year. The guidance also assumed flat Irrigation segment results in the second half of 2014, as compared with 2013. Consequently, they now expect full-year diluted earnings per share to be in the range of $8.70 to $8.90, excluding any effects of the company's financing transactions announced on September 8, 2014 and the share repurchase program. The fully diluted earnings per share including the effects of the share repurchases to date are expected to be between approximately $9.00 and $9.20.

Valmont Industries, Inc. Declares Quarterly Dividend, Payable on October 15, 2014

The Board of Directors of Valmont Industries, Inc. has declared a quarterly dividend of 37.5 cents per share payable on October 15, 2014 to shareholders of record on September 26, 2014. The dividend indicates an annual rate of $1.50 per share.

Valmont Industries, Inc. Announces Sale of $500 Million of Senior Notes

Valmont Industries, Inc. announced the sale of $250 million principal amount of its 5.00% senior notes due October 1, 2044 and $250 million principal amount of its 5.25% senior notes due October 1, 2054. The company will pay interest on the notes semi-annually on April 1, 2014 and October 1, 2014 of each year, beginning on April 1, 2015. The notes will be fully and unconditionally guaranteed by the same company subsidiaries that guarantee its revolving credit facility. A portion of the net proceeds will be used to purchase up to $200 million principal amount of the company's $450 million aggregate principal amount of 6.625% senior unsecured notes due 2020 in a tender offer announced on September 8, 2014. The remaining net proceeds will be used for general corporate purposes, including share repurchases. The offering is expected to close on September 22, 2014, subject to customary closing conditions.

Valmont Industries, Inc. Announces Tender Offer for Up to $200 Million of 6.625% Senior Notes Due 2020

Valmont Industries, Inc. announced a tender offer to purchase for cash up to $200 million in aggregate principal amount of its outstanding 6.625% Senior Notes due 2020. The tender offer is being made upon, and is subject to, the terms and conditions set out in the offer to Purchase, dated September 8, 2014 and the related Letter of Transmittal. The tender offer will expire on October 3, 2014, unless extended or earlier terminated. Holders of Notes that are validly tendered at or prior to on September 19, 2014 and accepted for purchase will receive the Total Consideration, which includes the Early Tender Premium.

Valmont Industries Seeks Acquisitions

Valmont Industries, Inc. (NYSE:VMI) will consider acquisitions. Valmont Industries has filed for a shelf registration. The net proceeds from sale of the securities will be used for general corporate purposes, including working capital, acquisitions, retirement of debt and other business opportunities.

 

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VMI

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Valuation VMI Industry Range
Price/Earnings 15.8x
Price/Sales 1.1x
Price/Book 2.2x
Price/Cash Flow 15.4x
TEV/Sales 0.8x
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