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VALMONT INDUSTRIES INC

For the period ended Jun 28, 2025. Filed Jul 31, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 28, 2025 · Filed Jul 31, 2025

VMI$418.91+3.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Table of Contents

​ · ​ · ​
​PART I—FINANCIAL INFORMATION​​
Item 1.Financial Statements​​
​Condensed Consolidated Statements of Operations for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024​3
​Condensed Consolidated Statements of Comprehensive Income for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024​4
​Condensed Consolidated Balance Sheets as of June 28, 2025 and December 28, 2024​5
​Condensed Consolidated Statements of Cash Flows for the twenty-six weeks ended June 28, 2025 and June 29, 2024​6
​Condensed Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interests for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024​7
​Notes to Condensed Consolidated Financial Statements​8
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations​24
Item 3.Quantitative and Qualitative Disclosures About Market Risk​34
Item 4.Controls and Procedures​34
​​​​
​PART II—OTHER INFORMATION​​
Item 1.Legal Proceedings​35
Item 1A.Risk Factors​35
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds​35
Item 3.Defaults Upon Senior Securities​35
Item 4.Mine Safety Disclosures​35
Item 5.Other Information​36
Item 6.Exhibits​36
​​​​
Signatures​37

PART I—FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

​​​​​​​​​​​​​
​ · ​ · Thirteen weeks ended · ​ · Twenty-six weeks ended
​ · ​ · June 28, · ​ · June 29, · ​ · June 28, · ​ · June 29,
​ · ​ · 2025 · 2024 · 2025 · 2024
Product sales​$943,371​$928,479​$1,817,860​$1,803,157
Service sales​107,177​111,258​202,002​214,408
Net sales​1,050,548​1,039,737​2,019,862​2,017,565
Product cost of sales​669,029​651,731​1,290,072​1,256,946
Service cost of sales​60,352​67,724​117,521​134,121
Total cost of sales​729,381​719,455​1,407,593​1,391,067
Gross profit​321,167​320,282​612,269​626,498
Selling, general, and administrative expenses​191,670​172,974​354,458​347,637
Impairment of long-lived assets​91,337​—​91,337​—
Realignment charges​​8,884​—​8,884​—
Operating income​29,276​147,308​157,590​278,861
Other income (expenses):​​​​​​​​
Interest expense​(10,543)​(15,846)​(20,658)​(32,067)
Interest income​1,568​1,499​4,962​3,278
Gain on deferred compensation investments​2,384​525​1,543​1,956
Other​(3,675)​(1,250)​(6,405)​(1,355)
Total other expenses​(10,266)​(15,072)​(20,558)​(28,188)
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries​19,010​132,236​137,032​250,673
Income tax expense (benefit):​​​​
Current​35,275​40,961​55,635​60,605
Deferred​(12,995)​(9,894)​(2,556)​450
Total income tax expense​22,280​31,067​53,079​61,055
Earnings (loss) before equity in loss of nonconsolidated subsidiaries​(3,270)​101,169​83,953​189,618
Equity in loss of nonconsolidated subsidiaries​(21)​​(19)​​(581)​​(39)
Net earnings (loss)​(3,291)​101,150​83,372​189,579
Earnings attributable to redeemable noncontrolling interests​(729)​(1,434)​(131)​(2,041)
Net earnings (loss) attributable to Valmont Industries, Inc.​$(4,020)​$99,716​$83,241​$187,538
Net earnings (loss) attributable to Valmont Industries, Inc. per share:​​​​​
Basic​$(1.53)​$4.94​$2.86​$9.29
Diluted​​(1.53)​​4.91​​2.84​​9.24

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in thousands)

​​​​​​​​​​​​​
​ · ​ · Thirteen weeks ended · ​ · Twenty-six weeks ended
​ · ​ · June 28, · ​ · June 29, · ​ · June 28, · ​ · June 29,
​ · ​ · 2025 · 2024 · 2025 · 2024
Net earnings (loss)​$(3,291)​$101,150​$83,372​$189,579
Other comprehensive income (loss), net of tax:​​​​
Foreign currency translation adjustments:​​​​
Unrealized translation gain (loss)​37,347​(18,768)​59,589​(40,186)
Hedging activities:​​​​
Unrealized gain (loss) on commodity hedges​760​(1,498)​857​(2,059)
Realized loss (gain) on commodity hedges included in net earnings​(630)​298​297​(419)
Unrealized gain (loss) on cross currency swaps​​(4,966)​​816​​(6,306)​​1,011
Amortization cost included in interest expense​(12)​(12)​(24)​(24)
Total hedging activities​​(4,848)​​(396)​​(5,176)​​(1,491)
Net realized loss on defined benefit pension plan​356​381​694​762
Total other comprehensive income (loss), net of tax​32,855​(18,783)​55,107​(40,915)
Comprehensive income​29,564​82,367​138,479​148,664
Comprehensive income attributable to redeemable noncontrolling interests​(2,009)​(1,269)​(987)​(1,719)
Comprehensive income attributable to Valmont Industries, Inc.​$27,555​$81,098​$137,492​$146,945
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.