Valmont Industries, Inc. VMI Income Statement

Valmont industries, inc. (VMI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jul'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Net sales
674,200	683,626	690,340	700,871	692,139	697,363	678,692	682,405	698,684	714,978	680,779	712,737	637,473	674,575	610,247	640,249	596,605	633,828	632,575	682,123	670,398	763,136	765,668	842,599	751,740	827,890	778,032	878,659	819,630	815,037	729,839	767,315	717,350	752,730	672,192	668,609	567,949	598,713	527,831	481,559	367,402	434,010	498,810
Total cost of sales
487,951	512,257	514,254	520,457	527,512	547,662	514,352	507,406	529,444	544,689	517,185	529,457	472,868	509,441	455,224	465,132	435,636	504,548	475,824	512,575	504,944	581,978	566,168	622,122	544,758	605,066	552,468	617,188	584,261	590,692	537,437	567,920	531,036	557,785	504,802	500,627	431,456	441,036	395,310	352,913	266,672	297,652	354,129
Gross profit
186,249	171,369	176,086	180,414	164,627	149,701	164,340	174,999	169,240	170,289	163,594	183,280	164,605	165,134	155,023	175,117	160,969	129,280	156,751	169,548	165,454	181,158	199,500	220,477	206,982	222,824	225,564	261,471	235,369	224,345	192,402	199,395	186,314	194,945	167,390	167,982	136,493	157,677	132,521	128,646	100,730	136,358	144,681
Selling, general and administrative expenses
119,354	115,826	112,223	116,702	110,025	113,411	110,200	111,329	105,280	106,405	103,504	104,830	99,949	107,171	101,783	103,311	98,604	119,510	104,539	115,548	107,771	114,869	111,697	115,701	108,134	122,111	115,663	117,206	117,179	112,601	102,020	102,043	103,496	117,588	95,357	99,363	91,192	95,358	85,378	91,345	69,080	73,625	75,265
Impairment of goodwill and intangible assets
-	-	0	-	-	-	15,780	-	-	-	0	-	-	-	-	-	-	-	15,200	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
66,895	55,543	63,863	63,712	54,602	36,290	38,360	63,670	63,960	63,884	60,090	78,450	64,656	57,963	53,240	71,806	62,365	-17,000	37,012	54,000	57,683	66,289	87,803	104,776	98,848	100,713	109,901	144,265	118,190	111,744	90,382	97,352	82,818	77,357	72,033	68,619	45,301	62,319	47,143	37,301	31,650	62,733	69,416
Other income (expenses):
Interest expense
10,014	10,182	9,976	10,117	9,878	10,418	10,954	11,791	11,074	11,333	11,190	10,818	11,304	11,133	11,100	11,122	11,054	11,141	11,120	11,232	11,128	11,573	8,716	8,304	8,197	8,138	8,149	8,025	8,190	7,968	8,429	7,421	7,807	9,450	7,671	10,783	8,271	8,069	8,487	8,429	5,962	3,587	3,976
Interest income
1,043	1,127	969	1,036	810	955	1,000	1,446	1,267	1,532	1,311	967	927	816	771	707	811	901	905	616	874	1,253	1,477	1,577	1,739	1,712	1,560	1,852	1,353	2,191	2,093	1,910	2,078	2,336	3,141	2,001	1,787	1,659	1,733	1,092	356	370	284
Gain (loss) on investments (unrealized)
-2,308	1,206	402	1,520	2,832	-1,985	1,068	250	-172	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs associated with refinancing of debt
-	-	0	-	-	-	14,820	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	38,705	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Business
-	-	0	0	-	-	0	-6,084	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,810	266	768	156	1,014	420	1,428	1,594	-969	-3,774	350	-192	1,045	-	878	1,252	-1,678	2,879	-1,230	-28	1,016	2,169	-2,344	1,903	-5,812	1,278	-584	123	1,556	-560	1,307	-1,977	1,577	-1,867	-1,670	504	390	648	58	47	-77	2,106	1,608
Total other income (expenses)
-9,469	-7,583	-7,837	-7,405	-5,222	-11,028	-22,278	-14,585	-10,948	-9,712	-9,529	-10,043	-9,332	5,615	-9,451	-9,163	-11,921	-7,361	-11,445	-10,644	-9,238	-8,151	-48,288	-4,824	-12,270	-5,148	-7,173	-6,050	-5,281	-6,337	-5,029	-7,488	-4,152	-8,981	-6,200	-8,278	-6,094	-5,762	-6,696	-7,290	-5,683	-1,111	-2,084
Earnings before income taxes
57,426	47,960	56,026	56,307	49,380	25,262	16,082	49,085	53,012	54,172	50,561	68,407	55,324	63,578	43,789	62,643	50,444	-24,361	25,567	43,356	48,445	58,138	39,515	99,952	86,578	95,565	102,728	138,215	112,909	105,407	85,353	89,864	78,666	68,376	65,833	60,341	39,207	56,557	40,447	30,011	25,967	61,622	67,332
Income tax expense:
Current
6,309	13,339	12,375	17,913	2,640	9,580	10,777	16,724	7,713	16,126	21,163	27,803	1,298	14,472	18,017	22,745	10,514	4,913	6,746	19,136	11,774	7,298	23,290	26,117	32,938	40,594	40,458	48,210	38,660	31,840	27,928	35,985	27,029	27,396	25,119	24,533	12,504	10,339	15,694	17,252	6,706	22,779	19,266
Deferred
8,177	-3,158	1,388	-3,952	9,662	-2,473	-1,686	-2,319	4,819	39,676	-7,268	-6,718	14,065	-22,151	-3,749	-3,544	5,759	-359	5,272	-5,219	5,164	9,285	-9,064	7,953	-2,923	-8,866	3,454	-1,042	-3,687	7,657	519	-5,193	737	-73,418	-1,346	-10,982	784	9,761	-1,914	-5,570	2,740	-2,441	2,785
Total income tax expense (benefit)
14,486	10,181	13,763	13,961	12,302	7,107	9,091	14,405	12,532	55,802	13,895	21,085	15,363	-7,679	14,268	19,201	16,273	4,554	12,018	13,917	16,938	16,583	14,226	34,070	30,015	31,728	43,912	47,168	34,973	39,497	28,447	30,792	27,766	-46,022	23,773	13,551	13,288	20,100	13,780	11,682	9,446	20,338	22,051
Earnings before equity in earnings of nonconsolidated subsidiaries
42,940	-	-	-	37,078	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings (loss) of nonconsolidated subsidiaries
-219	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before equity in earnings of nonconsolidated subsidiaries
-	-	-	-	-	-	-	-	-	-	-	47,322	39,961	71,257	29,521	43,442	34,171	-28,915	13,549	29,439	31,507	-	25,289	65,882	-	63,837	58,816	91,047	77,936	65,910	56,906	59,072	50,900	114,398	42,060	46,790	25,919	36,457	26,667	18,329	16,521	41,284	45,281
Income (Loss) from Equity Method Investments
-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	-247	0	0	0	-	-4	-30	-	287	75	269	204	817	1,536	2,087	1,688	3,550	2,354	1,201	954	452	1,068	805	114	84	-71
Net earnings
42,721	37,779	42,263	42,346	37,078	18,155	6,991	34,680	40,480	-1,630	36,666	47,322	39,961	71,257	29,521	43,442	34,171	-29,162	13,549	29,439	31,507	41,618	25,285	65,852	56,563	52,113	58,891	91,316	78,140	66,727	58,442	61,159	52,588	117,948	44,414	47,991	26,873	36,909	27,735	19,134	16,635	41,368	45,210
Less: loss (earnings) attributable to noncontrolling interests
-208	1,655	2,119	949	974	493	2,543	1,720	1,199	1,981	1,458	1,658	982	1,193	1,348	1,416	1,202	1,399	1,483	1,566	768	1,157	1,726	1,876	583	-2,755	2,402	1,753	571	1,691	1,711	1,179	263	3,217	2,273	2,164	1,264	2,043	1,800	2,019	172	894	980
Net earnings attributable to Valmont Industries, Inc.
42,929	36,124	40,144	41,397	36,104	17,662	4,448	32,960	39,281	-3,611	35,208	45,664	38,979	70,064	28,173	42,026	32,969	-30,561	12,066	27,873	30,739	40,461	23,559	63,976	55,980	54,868	56,489	89,563	77,569	65,036	56,731	59,980	52,325	114,731	42,141	45,827	25,609	34,866	25,935	17,115	16,463	40,474	44,230
Earnings per share:
Basic (in dollars per share)
2.00	1.69	1.86	1.90	1.65	0.82	0.20	1.47	1.74	-0.16	1.56	2.03	1.73	3.12	1.25	1.86	1.45	-1.28	0.52	1.19	1.29	1.72	0.93	2.40	2.10	2.05	2.12	3.36	2.92	2.45	2.14	2.27	1.98	4.35	1.60	1.74	0.98	1.34	0.99	0.66	0.63	1.56	1.70
Diluted (in dollars per share)
1.99	1.67	1.85	1.90	1.64	0.82	0.20	1.46	1.72	-0.17	1.55	2.01	1.72	3.09	1.24	1.85	1.45	-1.28	0.52	1.19	1.28	1.71	0.92	2.38	2.08	2.03	2.10	3.33	2.89	2.43	2.12	2.24	1.96	4.32	1.59	1.72	0.97	1.32	0.98	0.65	0.62	1.53	1.69
Common Stock, Dividends, Per Share, Declared
-	-	-	-	-	-	-	-	-	-	0.37	0.37	0.37	-	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.37	0.25	0.25	0.25	0.25	0.22	0.22	0.22	0.22	0.18	0.18	0.18	0.18	0.16	0.16	0.16	0.16	0.15	0.15	0.15
Weighted Average Number of Shares Outstanding, Basic
-	-	-	-	-	-	-	-	-	-	22,527	22,517	22,472	22,441	22,505	22,602	22,700	22,891	23,057	23,336	23,868	24,251	25,287	26,623	26,715	26,668	26,665	26,648	26,583	-	26,502	26,467	26,396	-	26,351	26,333	26,271	-	26,133	26,087	26,031	25,963	25,943
Weighted Average Number of Shares Outstanding, Diluted
-	-	-	-	-	-	-	-	-	-	22,751	22,740	22,660	22,612	22,659	22,749	22,816	23,018	23,170	23,450	23,982	24,409	25,513	26,856	26,950	26,908	26,919	26,910	26,859	-	26,806	26,758	26,678	-	26,579	26,585	26,537	-	26,404	26,448	26,419	26,402	26,223
Product sales
Net sales
598,909	604,271	605,439	609,516	614,964	620,737	597,469	598,642	620,486	639,680	602,080	632,507	572,952	607,330	544,828	570,762	532,940	561,938	560,518	611,782	603,894	690,061	686,508	766,844	681,043	748,091	693,480	794,341	740,447	738,010	652,822	688,693	641,987	668,030	595,064	589,208	501,168	457,116	492,997	448,007	339,820	-	-
Total cost of sales
438,788	460,227	457,750	461,091	474,897	498,127	460,547	453,021	476,264	493,212	462,854	477,174	426,847	461,788	409,003	418,072	393,492	455,653	427,688	461,173	459,541	532,560	515,217	573,067	497,843	553,285	499,190	563,306	529,161	541,145	488,739	519,438	482,708	503,279	453,462	447,167	385,000	334,835	374,678	332,290	248,643	-	-
Services sales
Net sales
75,291	79,355	84,901	91,355	77,175	76,626	81,223	83,763	78,198	75,298	78,699	80,230	64,521	67,245	65,419	69,487	63,665	71,890	72,057	70,341	66,504	73,075	79,160	75,755	70,697	79,799	84,552	84,318	79,183	77,027	77,017	78,622	75,363	84,700	77,128	79,401	66,781	141,597	34,834	33,552	27,582	-	-
Total cost of sales
49,163	52,030	56,504	59,366	52,615	49,535	53,805	54,385	53,180	51,477	54,331	52,283	46,021	47,653	46,221	47,060	42,144	48,895	48,136	51,402	45,403	49,418	50,951	49,055	46,915	51,781	53,278	53,882	55,100	49,547	48,698	48,482	48,328	54,506	51,340	53,460	46,456	106,201	20,632	20,623	18,029	-	-