Valmont® Industries, Inc. (NYSE: VMI), a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology, today will present a refreshed strategy and updated long-term financial targets when it hosts its 2023 Investor Day at The New York Stock Exchange (NYSE).
Stephen G. Kaniewski, President and Chief Executive Officer, and Avner M. Applbaum, Executive Vice President and Chief Financial Officer, will be joined by members of the Company’s executive and senior management team to provide a detailed overview of the company and business segments, its transformation journey, capital allocation priorities and financial performance targets.
Mr. Kaniewski commented, "At our Investor Day, we are excited to share our growth strategies and competitive advantages that uniquely position us to win in our markets. In addition, we will introduce new financial targets to continue our history of delivering long-term value for our shareholders. We will reveal our new Run/Grow/Transform strategic framework as we look to build a culture that delivers sustainable outperformance. You will also hear from our business leaders who will outline a clear pathway to create profitable growth and shareholder value by providing customers with unique, innovative solutions with clear value propositions.”
In conjunction with today's event, Valmont is reaffirming its 2023 fiscal year guidance and introducing new 5-Year financial targets (from base year 2022):
Reaffirming 2023 Full Year Outlook
- Net Sales Growth of 4 – 7%
- GAAP Diluted EPS of $14.80 to $15.35
- Adjusted Diluted EPS of $15.45 to $16.00
Introducing New 5-Year Financial Targets
- Net Sales Growth (organic) of 5 - 8%
- Operating Margin of >14%
- EPS CAGR of 12 - 15%
- Return on invested Capital (ROIC) of >18%
- Free Cash Flow Conversion of 1.0x Net Earnings (over the 5-year period)
Event Webcast Details
A live webcast of the presentations, including two question and answer sessions will begin at 9:00 a.m. Eastern Time and will be approximately a half-day event. Virtual registration can be accessed from the Valmont 2023 Investor Day website. A replay of the webcast will be accessible shortly after the conclusion of the event.
About Valmont Industries, Inc.
For over 75 years, Valmont has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.® at valmont.com.
Concerning Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, the continuing and developing effects of the pandemic including the effects of the outbreak on the general economy and the specific economic effects on the Company’s business and that of its customers and suppliers, risk factors described from time to time in Valmont’s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, geopolitical risks, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.