Valmont Industries, Inc. · NYSE:VMI
Valmont Industries — Q2 2025 Earnings Presentation
22 slides from Valmont Industries's earnings presentation, Jul 22, 2025
Slide 1: Q2 2025 Earnings Presentation
Q2 2025 Earnings Presentation July 22, 2025 © 2025 Valmont® Industries, Inc.
Slide 2: Disclosure Regarding Forward-Looking Statements
Disclosure Regarding Forward-Looking Statements These slides (and the accompanying oral discussion) contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on assumptions made by management, considering its experience
Slide 3: CEO Opening Comments
CEO Opening Comments Avner Applbaum, President & CEO 3 July 22, 2025 | Valmont Industries, Inc.
Slide 4: Q2 2025 Key Highlights
Q2 2025 Key Highlights Solid Results Operationally, Reflecting Disciplined Execution NET SALES − Modest sales growth led by strength in Utility, Telecom and International Ag $1.05 BILLION − Confident in core markets; aligned with megatrends: energy transition, +1.0% infrastructure wave, global food
Slide 5: 2025 Critical Objectives to Build on Past Success
2025 Critical Objectives to Build on Past Success Catch the • Investing $100M of growth capex in 2025 to add capabilities and capacity Infrastructure Wave • Capitalizing on the largest opportunities in our Utility business • Demonstrating resiliency and market leadership during macro-driven headwind
Slide 6: Financial Results and Outlook
Financial Results and Outlook Tom Liguori, EVP & CFO 6 July 22, 2025 | Valmont Industries, Inc.
Slide 7: Positioning the Business for Long-term Growth
Positioning the Business for Long-term Growth Org Realignment Portfolio Refinements • Headcount reduction in Solar and • Exited North American Solar market and significantly North American Ag to reflect near- downsized Solar in Brazil; due to growth trajectory and recent term market conditions regul
Slide 8: Q2 2025 GAAP Financial Summary
Q2 2025 GAAP Financial Summary • Net sales slightly up; sales Dollars in millions, except per-share amounts growth in Utility, Telecom and International Agriculture was partially offset by lower sales in Solar and North America Agriculture Net Sales Operating Income Diluted EPS • Gross margin of 30.
Slide 9: Q2 2025 Adjusted Financial Summary
Q2 2025 Adjusted1 Financial Summary Dollars in millions, except per-share amounts • Net Sales of $1.05 Billion Adjusted1 Adjusted1 • Adjusted1 gross profit margin Net Sales of 30.7% Operating Income Diluted EPS +1.0% -4.0% -0.6% • Total adjusted1 SG&A expense was $181.4M an increase of $8.4 million
Slide 10: Q2 2025 Results | Infrastructure
Q2 2025 Results | Infrastructure Dollars in millions Adjusted1 Sales • Utility: growth was driven by higher Operating Income volumes and pricing, more than offset +0.4% -6.7% lower steel cost pass-throughs $762.7 $765.5 $133.6 $124.6 • L&T: sales declined; softness in international markets • Coating
Slide 11: Q2 2025 Results | Agriculture
Q2 2025 Results | Agriculture Dollars in millions Adjusted1 Sales Operating Income +2.7% +12.2% • North America: volumes declined $281.7 $289.4 $44.8 due to fewer storm-related $40.0 replacement sales and continued market softness • International: sales increased significantly, led by EMEA strength
Slide 12: Capital Allocation Priorities
Capital Allocation Priorities Capital • Invested $32M in Q2 for investments to catch ~50% Growing Our Business Expenditures the infrastructure wave and support growth Cash Flow & Liquidity Acquisitions • Strategic fit at the right price • Q2 2025 operating cash flows were $167.6 million ~50% Returni
Slide 13: Raising Full-Year 2025 Adjusted Diluted EPS Outlook
Raising Full-Year 2025 Adjusted Diluted EPS Outlook 2025 Outlook Net Sales $4.0B to $4.2B Key Assumptions, Including Current Tariff Considerations Infrastructure Net Sales $3.02B to $3.16B • Steel cost assumptions are aligned with futures markets as of July 21, 2025 Agriculture Net Sales $0.98B to $
Slide 14: Value Drivers: Progressing Toward Our Long-Term Strategy
Value Drivers: Progressing Toward Our Long-Term Strategy Catch the • Utility capacity expansion, including capabilities +$350 to $400M Revenue Infrastructure Wave to increase manufacturing throughput +$3 to $5 EPS Position Ag for Growth • Growth ag tech initiatives of aftermarket parts and +$100 to
Slide 15: Q&A
Q&A 15 July 22, 2025 | Valmont Industries, Inc.
Slide 16: Appendix
Appendix 16 July 22, 2025 | Valmont Industries, Inc.
Slide 17: Steel Material Index Trends
Steel Material Index Trends AMM Steel Material Index National Mills Carbon Grade Cut to Length and Coiled / Hot Rolled Plate Average • Steel index deflation impacted 2020 through 2025 YTD revenues in 2024 • Utility is most affected by steel cost changes due to the contractual pricing mechanisms and
Slide 18: U.S. Net Cash Farm Income by Year
U.S. Net Cash Farm Income by Year Source: USDA 18 July 22, 2025 | Valmont Industries, Inc. Updated: February 6, 2025
Slide 19: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures Management utilizes non-GAAP financial measures to assess the Company’s historical and prospective financial performance, evaluate operational profitability on a consistent basis, factor into executive compensation decision
Slide 20: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In thousands 20 July 22, 2025 | Valmont Industries, Inc. NM = Not Meaningful
Slide 21: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In thousands, except per-share amounts 1In the second quarter of fiscal 2025, the Company reported a GAAP net loss. In periods in which the Company recognizes a net loss, the Company excludes the impact of outstanding stock
Slide 22: Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures
Reconciliation of Non-GAAP Financial Measures to Reported Financial Measures In thousands 22 July 22, 2025 | Valmont Industries, Inc.