Valmont Industries Inc. (VMI) Tumbled After Lowering Guidance
Valmont Industries Inc. (VMI) announced Thursday morning that it now expects to report full year adjusted EPS of $7.55 to $7.65, down from prior guidance of $8.00 to $8.10. Street expectations are for EPS of $8.07.
The company expects to report second quarter adjusted EPS of $1.92 to $1.95. The consensus estimate is for EPS of $2.23.
Valmont Industries gapped open sharply lower Thursday and slipped further in the first 2 hours of trade. Shares finished with a loss of 13.55 at $138.30 on the highest volume of the year. The stock sank to over a 2-month low.
by RTTNews Staff Writer
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