Valmont Industries Q2 Profit Declines; Cuts FY14 EPS Outlook - Quick Facts

(RTTNews) - Valmont Industries, Inc. (VMI) reported that its second-quarter net earnings attributable to company decreased to $64.0 million or $2.38 per share, from $89.6 million or $3.33 per share in the previous year quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $2.38 for the quarter. Analysts' estimates typically exclude special items.

Net sales decreased to $842.60 million from $878.66 million, while ten analysts expected revenue of $856.93 million for the quarter.

For fiscal 2014, Valmont now expects earnings in the range of $9.35 to $9.65 per share, down from its prior range of $10.00 to $10.50 per share. Analysts expect the company to report 2014 earnings per share of $9.52.