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VMI-News
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Valmont Chairman Mogens Bay to Retire at End of 2026 Fiscal Year
Valmont announced that Mogens Bay, Chairman of the Board, will retire from the Company's Board of Directors at the end of the Company's 2026 fiscal year, on December 26. Consistent with the Board's previously announced succession plan, Catherine Paglia, the Company's Vice Chair of the Board and Lead Independent Director, will succeed Bay as Board Chair upon his retirement.
Raises FY26 Revenue View to $4.3B-$4.45B
raises FY26 revenue view to $4.3B-$4.45B from $4.2B-$4.4B
Valmont Reports Q2 Revenue of $1.12B
Reports Q2 revenue $1.12B vs $1.05B last year. President and Chief Executive Officer Avner M. Applbaum commented, "Valmont delivered solid second quarter results, demonstrating the execution of our strategy and the strength of our market-leading businesses. In North America Utility and Coatings, commercial excellence, pricing discipline, and ongoing investments in capacity and operations drove another quarter of strong performance. Building on this momentum, we will continue strengthening our operations while leveraging our competitive advantages to capture the significant opportunities ahead. In Agriculture, we continue to navigate challenging market conditions through pricing discipline, operational execution, and cost management while investing in aftermarket solutions and technologies that improve grower productivity and reinforce our competitive advantage. These investments position the business to accelerate growth as market conditions improve.
U.S. Stock Futures Steady as Markets Await Fed Decision
Stock futures are relatively subdued and mixed this morning after a powerful rally as investors shift attention from geopolitical headlines toward tomorrow's Federal Reserve decision and commentary from new Fed Chair Kevin Warsh. Markets have been encouraged by reports surrounding a preliminary U.S.-Iran agreement that could ease concerns over the Strait of Hormuz and reduce energy-related inflation pressure. Crude has continued falling with Brent and WTI moving lower as traders increasingly price in normalization of global supply and softer demand expectations. Consensus expectations for the Fed are no immediate rate move, but investors will closely watch Warsh's tone on inflation, labor conditions, and the path of policy through year-end.In pre-market trading, S&P 500 futures fell 0.04%, Nasdaq futures dipped 0.12% and Dow futures rose 0.21%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Rackspaceup 22% after disclosing a 15% workforce reduction plan intended to realign its workforce around how production AI is deployed and announcing an agreement for the phased deployment of an initial 30 MW footprint dedicated to AMD-based compute deployments across Rackspace's global data centersSpaceXup another 5% after its IPO on Friday, noting that it has finalized its agreement to acquire CursorValmontup 7% after providing FY29 guidance ahead of its investor dayOlinup 6% after the company and Huntsman announced that they have entered into a definitive agreement to combine in an all-stock merger of equalsRobinhoodup 1% after announcing a reduction in force that involves approximately 10% of the company's full-time employeesDOWN AFTER EARNINGS -Domodown 20%Dave & Buster'sdown 17%Vince Holdingdown 1%LOWER -Huntsmandown 7% after Olin and Huntsman announced that they have entered into a definitive agreement to combine in an all-stock merger of equalsEricssondown 2% after appointing Per Narvinger as CEO as Borje Ekholm has decided to step down
Sees 2029 Revenue at $5.4B and Operating Margin of 17%
Sees 2029 revenue $5.4B and operating margin of 17%.
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