Valmont Industries Inc (VMI) News & EventsVMIValmont Industries Inc

U.S. 10-Year Treasury Yield Falls to Near One-Month Lows

The yield on the U.S. 10-year Treasury note fell on Tuesday, hovering near one-month lows, following weaker housing data while investors also continued to assess persistent inflationary pressures ahead of the Fed's interest rate decision next week. Housing starts fell 5.2% in September, while pending home sales dropped to a record low, reflecting the continued strain of elevated mortgage rates on housing demand. The Fed is widely expected to leave interest rates unchanged next week, while markets anticipate a 25 basis point rate hike in December. Meanwhile, crude oil prices moved lower and stocks turned higher following an unconfirmed report from Qatari newspaper Al-Araby Al-Jadeed that Qatar and Pakistan presented a mediation proposal to address the demands of the U.S. and Iran.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Motorsreported better-than-expected Q3 sales and earnings and approved a new $20B share repurchase planGE Aerospace posted a "beat and raise" Q3 reportSalesforceagreed to acquire Brazefor $5.66B in enterprise value, or $47.50 per share in cashByteDance, Alibabaand Tencenthave ordered over 3M NvidiaRTX PRO 5500 graphics cards for over $35B, Reuters reportsIndustrial conglomerate 3Mlifted its annual profit forecast as cost-control initiatives and higher prices support margins2. WALL STREET CALLS:Loop Capital downgraded Appleto Hold on iPhone concernsAkamaiupgraded to Strong Buy at Raymond James following recent pullbackBarclays downgraded NuScale Powerto Underweight on commercial delaysBlackRockupgraded to Buy at TD CowenJefferies downgraded Elancoand Zoetisto Hold3. AROUND THE WEB:NRx Pharmaceuticalsis advancing Ketafree, a preservative-free ketamine formulation, and is seeking FDA approval while arguing that benzethonium chloride, a preservative used in most ketamine products, poses health risks, a claim it has not substantiated with evidence, NY Times saysTelesat'screditors have proposed a C$3.2B deal to help the company pay down a coming debt maturity and avert a default, WSJ reportsAustralia is set to sue Meta'sFacebook, TikTok, as well as other major digital platforms for not complying with the country's social media ban for children under 16, Bloomberg saysAlphabet'sWaymo, which currently operates about 4,000 cars, is looking to use the $5B it has recently borrowed to expand its fleet to 8,000 vehicles by the end of 2026 and grow that number to 20,000 by the end of 2027, Semafor reportsNetflixis overhauling its creative leadership in hopes of getting domestic audiences to watch more of its content, WSJ reports4. MOVERS:Myriad Genetics (MYRD) gains after announcing it will sell its Prenatal Health testing business to LabcorpHertzincreases after announcing Oro Mobility secured an $80M strategic equity investment from a consortium of investorsEquifaxhigher after reporting Q3 results, providing guidance for Q4, and narrowing its outlook for FY26Borr Drillinglower after Fearnley downgraded the stock to HoldBaxterfalls after the FDA issued a warning letter following an inspection of its facility5. EARNINGS/GUIDANCE:RTXreported Q3 results and raised its guidance for FY26Krogerbacked its guidance for FY26Ally Financialreported Q3 results, with EPS and revenue beating consensusValmontreported Q3 results and increased its outlook for FY26, with CEO Avner Applbaum commenting this was "another quarter of sales and earnings growth"Genuine Partsreported Q3 results and narrowed its guidance for FY26INDEXES:Near midday, the Dow was up 513.06, or 0.99%, to 52,479.09, the Nasdaq was up 76.22, or 0.29%, to 26,507.11, and the S&P 500 was up 35.46, or 0.46%, to 7,726.19.

Company Reports Q3 Revenue of $1.1B, Slightly Below Expectations

Reports Q3 revenue $1.1B, consensus $1.11B. President and Chief Executive Officer Avner M. Applbaum commented, "We delivered another quarter of sales and earnings growth. Higher sales in North America Utility and Coatings reinforce our confidence in the strength and durability of the infrastructure market. To support continued infrastructure demand, we are focused on increasing capacity and improving throughput, with a continued focus on reliable delivery and disciplined execution. In Agriculture, we delivered sales growth in North America despite broader market softness. Our focus remains on deepening strategic customer relationships and expanding our higher-value aftermarket and technology solutions, positioning the business for stronger growth as market conditions improve. Given our results, we are raising our adjusted earnings per share guidance range. As we finish 2026 and prepare for 2027, we are focused on turning our capacity investments into higher throughput and improved productivity across the Infrastructure segment. At the same time, we are taking pricing actions and applying contractual pass-throughs to recover higher steel and zinc costs. The pace of margin expansion depends in part on how quickly input costs stabilize. Strong customer demand in Utility and Coatings, together with our investments and operating improvements across Infrastructure and Agriculture support our confidence in the objectives presented at our 2026 Investor Day."

Company Reaffirms Net Sales Outlook of $4.3B to $4.45B

Consensus $22.95. Reaffirms net sales view $4.3B-$4.45B, consensus $4.36B. The company said, "Steel cost assumptions are aligned with markets as of October 16, 2026; Foreign currency assumptions are based on FX rates as of October 16, 2026; This outlook includes the current tariffs as of October 16, 2026 and assumes no material change to the current trade or tariff environment."