Valmont Hosts 2023 Investor Day Event In New York City
23 May 2023 - 9:15PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230523005239/en/
Renee Campbell renee.campbell@valmont.com
Valmont Industries (NYSE:VMI)
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