By Katherine Hamilton

Valmont Industries' first-quarter sales rose, driven by growth in its infrastructure business, which outweighed a decline in the agricultural market.

The maker of infrastructure and agricultural products on Tuesday posted a profit of $108 million, or $5.51 a share, in the quarter ended in late March, compared with $87.3 million, or $4.32 a share, a year earlier.

Analysts expected $4.67 a share, according to FactSet.

Revenue rose 6.2% to $1.03 billion. Analysts surveyed by FactSet forecast revenue of $995.8 million.

Sales and margins grew in the quarter, thanks to pricing strength and higher volumes in North America, Chief Executive Avner Applbaum said.

Infrastructure sales rose 14% and made up 78% of total revenue.

Demand for infrastructure products has been driven by long-term investment trends, including a rising need for energy, grid modernization and electrification, the company said. In turn, Valmont is investing in its capacity, it said.

In agriculture, revenue fell 15% and made up 22% of total sales.

Customers in agriculture are more cautious, driving lower volumes, Valmont said. International sales in the segment fell 33% due to disruptions related to the Iran conflict, as well as lower volumes in Brazil.

Valmont said it is investing in aftermarket parts and technology in its agriculture unit to improve efficiency and enhance grower productivity.

The company raised the low end of its projected range for full-year earnings per share. It now expects $21.50 to $23.50 in per-share earnings, compared with earlier guidance of $20.50 to $23.50.

It raised its outlook for infrastructure sales by about $50 million, and lowered its agriculture revenue guidance by the same amount, so there was no change to its total full-year revenue projection.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 21, 2026 07:43 ET (11:43 GMT)

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