Valmont Industries, Inc. (NYSE:VMI) shares declined 4.33% in pre-market trading Tuesday after the company reported fourth-quarter earnings that came in slightly below Wall Street expectations, even as revenue matched forecasts.
The infrastructure and agriculture equipment maker posted adjusted earnings of $4.92 per share for the quarter, just under the analyst consensus of $4.96. Revenue totaled $1.04 billion, broadly in line with estimates and up 0.1% compared to the same period last year.
Results were weighed down by $27.5 million in elevated legal and credit-related charges, equivalent to $0.92 per diluted share, tied to the Brazil Agriculture unit.
Performance across segments was uneven. The Infrastructure division delivered solid growth, with sales rising 7.2% to $819.0 million, fueled by a 21% increase in Utility sales. In contrast, Agriculture revenue fell 19.9% to $222.7 million, reflecting persistent weakness in North American and Brazilian markets.
“In the fourth quarter we delivered improved earnings per share and grew our backlog year-over-year amid a mixed demand environment,” said President and CEO Avner M. Applbaum. “During 2025, we focused on optimally positioning the business for future growth through capacity investments and disciplined execution.”
Looking ahead, Valmont expects fiscal 2026 sales between $4.2 billion and $4.4 billion, implying growth of 2.5% to 7%. Adjusted earnings per share are projected in a range of $20.50 to $23.50, representing a 7% to 23% increase over 2025 levels.
The company forecasts Infrastructure sales growth of 5% to 9% next year, while Agriculture revenue is expected to range from a 6.5% decline to a modest 0.5% increase.
At year-end, backlog stood at $1.65 billion, up $217.0 million, or 15.1%, driven primarily by sustained strength in utility-related demand.