Valmont Industries Inc.s earnings jumped sharply in the
second quarter on across-the-board sales increases.
The Omaha, Neb.-based
manufacturer posted net income of $89.56 million for the three
months ended June 29, up 49.3 percent from $59.98 million in
the same period last year on sales that climbed 14.5 percent to
Operating earnings by
the companys coatings segment increased 20.7 percent to
$23.55 million in the second quarter from $19.52 million a year
earlier on sales that rose 10.6 percent to $93.8 million,
accounting for nearly 11 percent of the companys overall
Valmont attributed the
sales improvement to a $9-million contribution to North
American sales by Pure Metal Galvanizing Inc., which it
acquired in late 2012. The company predicted the coatings
segment would continue to benefit from the Pure Metal
acquisition and "continued solid demand in North America."
support structures segment, which manufactures steel and
concrete components for the electric utility industry,
generated operating earnings of $42.12 million, up 58.5 percent
from the second quarter of last year on sales that rose 7.5
percent to $228.24 million.
infrastructure products segment, which produces lighting and
traffic products, recorded a 59.5-percent increase in operating
earnings to $22.6 million on a 6.3-percent increase in sales to
$250.64 million, which the company attributed to its February
acquisition of Locker Group Holdings Pty. Ltd. (
amm.com, Feb. 11).