OMAHA, Neb., Feb. 25, 2016 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure and mechanized irrigation equipment and services for agriculture, is hosting an investor day today to outline the Company's strategy, business drivers and opportunities. Presenting on behalf of the Company are senior corporate management and all segment presidents.
The Investor Day Presentation will last approximately three and one half hours, including a period for questions and answers, and will be webcast. A link to the webcast and presentation materials can be found on the home page of www.valmont.com.
The Company, on its 4Q 2015 earnings call on February, 18 2016, reintroduced annual EPS guidance for 2016 of 12%-15% growth from 2015 adjusted EPS of $5.63 (GAAP $1.71). Assumptions for guidance were also provided. In addition, the Company will introduce long-term financial objectives:
Goal (5-year average)
ROIC (after tax)
Free cash flow conversion
>1 x net earnings
"We are excited to host our first investor day in several years in an effort to provide a greater understanding of our Company and long-term opportunities, as well as exposure to senior leadership responsible for running our five segments," said Mr. Bay, Valmont's Chairman and Chief Executive Officer. "While 2015 was a transitional year for Valmont, we enter 2016 confident that our restructuring and productivity actions will lead to meaningful earnings growth in 2016 and positions us well over the longer-term."
Valmont is a global leader, designing and manufacturing highly engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its mechanized irrigation equipment for large scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products.
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management's perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont's control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont's actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, risk factors described from time to time in Valmont's reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.
SOURCE Valmont Industries, Inc.