Sep 2026 (Q3 FY26) — Oct 20, 2026
Valmont Industries Q3 FY26 — Strong Infrastructure Demand and Ag Aftermarket Growth Drive Earnings Beat
Read the full callValmont Industries earnings: last reported Tue, 20 Oct 2026, for the quarter ended Sep 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,119 | +6.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 14.8 | +12.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 120 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
6 of 10 judged targets kept · 29 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| North America Utility segment revenue growth (Q2 FY26, versus Q1 FY26 pace) | very strong similar type growth or even better [than Q1 FY26's 27.4%] | Mar 2026 | North America Utility sales increased 33.9%, driven by higher pricing and volume growth supported by a robust market environment. | Achieved |
| Full-year diluted EPS | $20.50 to $23.50 | Dec 2025 | We are increasing our diluted earnings per share outlook to a range of $22.25 to $23.50. | Revised Up |
| Agriculture segment full-year net sales | $0.9 billion to $0.95 billion | Mar 2026 | while maintaining our agriculture outlook | On Track |
4 of VALMONT INDUSTRIES INC's 39 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 36 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $401.16 on 22 Oct 2025 → $435.01. High $583.55 (25 Jun 2026), low $379.21 (20 Nov 2025).
Overview
Guidance
6 of 10 judged targets kept · 29 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| North America Utility segment revenue growth (Q2 FY26, versus Q1 FY26 pace) | very strong similar type growth or even better [than Q1 FY26's 27.4%] | Mar 2026 | North America Utility sales increased 33.9%, driven by higher pricing and volume growth supported by a robust market environment. | Achieved |
| Full-year diluted EPS | $20.50 to $23.50 | Dec 2025 | We are increasing our diluted earnings per share outlook to a range of $22.25 to $23.50. | Revised Up |
| Agriculture segment full-year net sales | $0.9 billion to $0.95 billion | Mar 2026 | while maintaining our agriculture outlook | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 39 tracked commitments, with each call’s wording and source.
Call summaries
Valmont Industries Q3 FY26 — Strong Infrastructure Demand and Ag Aftermarket Growth Drive Earnings Beat
Read the full callValmont Industries, Inc. Q2 FY26 — Strong Infrastructure Growth Drives Raised Full-Year Outlook
Read the full callValmont Industries Q1 FY26 — Strong Utility Growth and Increased EPS Guidance
Read the full callEvery analysed call
Financials
Net profit, year on year: +3083% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,020 | 1,037 | 969 | 1,051 | 1,046 | 1,038 | 1,029 | 1,119 |
| Operating profit | 126 | 120 | 128 | 29 | 141 | 117 | 156 | 166 |
| Operating margin | 12.3% | 11.6% | 13.2% | 2.8% | 13.5% | 11.2% | 15.1% | 14.8% |
| Other income | -13 | -14 | -10 | -10 | -10 | -7 | -10 | -4 |
| Interest | 14 | 12 | 10 | 11 | 10 | 10 | 9 | 9 |
| Profit before tax | 112 | 106 | 118 | 19 | 132 | 109 | 145 | 162 |
| Tax rate | 26.5% | 25.7% | 26.1% | 117.2% | 23.1% | −54.7% | 25.6% | 25.8% |
| Net profit | 83 | 78 | 87 | -4 | 99 | 168 | 108 | 120 |
| EPS ($ per share) | 4.13 | — | 4.35 | -1.53 | 5.02 | — | 5.55 | 6.19 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
| Reserves | 2,028 | 2,174 | 2,245 | 2,394 | 2,593 | 2,644 | 2,941 | 3,156 |
| Total liabilities | 1,408 | 1,617 | 1,745 | 2,034 | 1,915 | 2,060 | 1,736 | 1,727 |
| Fixed assets | 514 | 558 | 598 | 599 | 596 | 617 | 589 | 674 |
| Total assets | 2,584 | 2,807 | 2,953 | 3,447 | 3,557 | 3,477 | 3,330 | 3,369 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 153 | 308 | 316 | 66 | 326 | 307 | 573 | 456 |
| Cash from investing | -155 | -168 | -104 | -417 | -132 | -115 | -79 | -143 |
| Cash from financing | -162 | -99 | -174 | 134 | -182 | -176 | -523 | -299 |
| Net cash flow | -180 | 40 | 47 | -223 | 8 | 18 | -39 | 23 |
| Capital expenditure | -72 | -97 | -107 | -108 | -93 | -97 | -79 | -145 |
| Free cash flow | 81 | 210 | 210 | -42 | 233 | 210 | 493 | 311 |
Infrastructure grew from 74% to 78% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Infrastructure | 74% | 73% | 73% | 73% | 77% | 79% | 78% | 78% | +14.9% |
| Agriculture | 26% | 27% | 27% | 27% | 23% | 21% | 22% | 22% | -15.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Q2 FY2026 · share of revenue
As VMI cuts its regions in its filings; they can nest, so they need not add to 100%.
75 filings between Oct 30, 2025 and Oct 20, 2026.
Purchases
$101.1K
1 purchase by 1 insider
Sales
$9.23M
7 sales by 3 insiders
Also filed: 2 gifts, 1 disposition to issuer.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| BAY MOGENS C | — | $8.62M | Apr 24, 2026 |
| Freye Theodor Werner | — | $396.0K | Jul 27, 2026 |
| Campbell Renee L | — | $215.2K | May 6, 2026 |
| Schwietz John L | $101.1K | — | Jul 23, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 20, 2026 | Johnson William Eric Chief Accounting Officer | Tax withheld | 74 | $33.4K |
| Sep 8, 2026 | Hickey Toni CLO and Corporate Secretary | Award | 310 | $0 |
| Aug 17, 2026 | Campbell Renee L SVP, Capital Markets & Risk | Option exercise | 838 | $211.9K |
| Aug 17, 2026 | Campbell Renee L SVP, Capital Markets & Risk | Tax withheld | 601 | $301.6K |
| Jul 31, 2026 | Applbaum Avner M President and CEO | Tax withheld | 162 | $78.0K |
| Jul 29, 2026 | Schwietz John L Executive VP and CFO | Tax withheld | 24 | $11.0K |
| Jul 27, 2026 | Freye Theodor Werner Director | Sale | 800 | $396.0K |
| Jul 23, 2026 | Schwietz John L Executive VP and CFO | Purchase | 208 | $101.1K |
| May 6, 2026 | Campbell Renee L SVP, Capital Markets & Risk | Sale | 412 | $215.2K |
| Apr 27, 2026 | Robinson-Berry Joan Director | Award | 341 | $0 |
| Apr 27, 2026 | PAGLIA CATHERINE JAMES Director | Award | 341 | $0 |
| Apr 27, 2026 | Neary Daniel P Director | Award | 341 | $0 |
| Apr 27, 2026 | Milliken James B. Director | Award | 341 | $0 |
| Apr 27, 2026 | Lanoha Richard Andrew Director | Award | 341 | $0 |
| Apr 27, 2026 | Freye Theodor Werner Director | Award | 341 | $0 |
| Apr 27, 2026 | Caplan Deborah H Director | Award | 341 | $0 |
| Apr 27, 2026 | BAY MOGENS C Director | Award | 341 | $0 |
| Apr 27, 2026 | Maass Paul T Director | Award | 341 | $0 |
| Apr 27, 2026 | Favre Ritu Director | Award | 341 | $0 |
| Apr 24, 2026 | BAY MOGENS C Director | Sale | 2,000 | $980.0K |
| Apr 24, 2026 | BAY MOGENS C Director | Sale | 7,550 | $3.71M |
| Apr 24, 2026 | BAY MOGENS C Director | Sale | 1,500 | $738.7K |
| Apr 24, 2026 | BAY MOGENS C Director | Sale | 5,000 | $2.47M |
| Apr 24, 2026 | BAY MOGENS C Director | Sale | 1,450 | $716.2K |
| Feb 23, 2026 | MATTHEWS DARRYL R Group Pres. Global Agriculture | Award | 541 | $0 |
| Feb 23, 2026 | Paisley Jennifer Chief People Officer | Tax withheld | 93 | $42.5K |
| Feb 23, 2026 | Paisley Jennifer Chief People Officer | Award | 192 | $0 |
| Feb 23, 2026 | Campbell Renee L SVP, Capital Markets & Risk | Disposition to issuer | 194 | $88.7K |
| Feb 23, 2026 | Campbell Renee L SVP, Capital Markets & Risk | Award | 421 | $0 |
| Feb 23, 2026 | MATTHEWS DARRYL R Group Pres. Global Agriculture | Tax withheld | 241 | $110.2K |
| Feb 23, 2026 | Applbaum Avner M President and CEO | Award | 3,717 | $0 |
| Feb 23, 2026 | Applbaum Avner M President and CEO | Tax withheld | 1,594 | $729.0K |
| Feb 23, 2026 | Turi Gregory Richard President, Infrastructure | Tax withheld | 134 | $61.3K |
| Feb 23, 2026 | Colwell James Christopher President, Infrastructure | Tax withheld | 399 | $182.5K |
| Feb 23, 2026 | MASSEY R ANDREW VP, Legal and Corp. Secretary | Award | 746 | $0 |
| Feb 23, 2026 | Liguori Thomas EVP, CFO | Tax withheld | 311 | $142.2K |
| Feb 23, 2026 | Colwell James Christopher President, Infrastructure | Award | 913 | $0 |
| Feb 23, 2026 | MASSEY R ANDREW VP, Legal and Corp. Secretary | Tax withheld | 331 | $151.4K |
| Feb 23, 2026 | Turi Gregory Richard President, Infrastructure | Award | 289 | $0 |
| Feb 23, 2026 | Liguori Thomas EVP, CFO | Award | 714 | $0 |
| Dec 16, 2025 | Liguori Thomas EVP, CFO | Tax withheld | 135 | $55.4K |
| Dec 16, 2025 | MASSEY R ANDREW VP, Legal and Corp. Secretary | Tax withheld | 58 | $23.8K |
| Dec 16, 2025 | Colwell James Christopher President, Infrastructure | Tax withheld | 156 | $64.1K |
| Dec 16, 2025 | MATTHEWS DARRYL R Group Pres. Global Agriculture | Tax withheld | 97 | $39.8K |
| Dec 16, 2025 | Campbell Renee L SVP, Investor Relations, Treas | Tax withheld | 33 | $13.6K |
| Dec 16, 2025 | Dasher ELlen S VP, Global Taxation | Tax withheld | 31 | $12.7K |
| Dec 16, 2025 | Applbaum Avner M President and CEO | Tax withheld | 558 | $229.1K |
| Dec 16, 2025 | Paisley Jennifer SVP, Human Resources | Tax withheld | 55 | $22.6K |
| Dec 16, 2025 | Turi Gregory Richard President, Infrastructure | Tax withheld | 80 | $32.9K |
| Dec 15, 2025 | MASSEY R ANDREW VP, Legal and Corp. Secretary | Award | 324 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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