Valmont Industries, Inc. (VMI), a manufacturer of irrigation equipment, reported significantly higher fourth-quarter profit on Tuesday, primarily aided by an income tax benefit. The company's shares were down more than 4% in pre-market trading.
Net earnings attributable to VMI rose to $168.00 million, or $9.05 per share, compared with $77.65 million, or $3.84 per share, a year earlier.
The company recorded an income tax benefit of $78.49 million related to an investment loss in Prospera, following the wind-down of that business in 2025.
Excluding one-time items, adjusted earnings amounted to $97.11 million, or $4.92 per share.
Operating income decreased 2.9% to $116.53 million, while adjusted operating income increased 5.6% to $126.7 million.
Net sales were slightly higher at $1.038 billion, up 0.1% from the prior year.
For full-year 2026, the company expects EPS in the range of $20.50 to $23.50 on revenue of $4.2 billion to $4.4 billion.
On Friday, Valmont Industries shares closed at $475.33, up 1.71%.
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