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Valmont -4.8% premarket after predicting lower profits in Q1

  • Valmont Indsutries (VMI) -4.8% premarket after posting disappointing Q4 revenues and issuing downside guidance for Q1 and FY 2014.
  • VMI sees Q1 EPS of ~$2.17, -25% Y/Y and lower than $2.61 analyst consensus estimate, pointing to exceptional irrigation results in the year-ago quarter mainly driven by drought which will not be matched in the current quarter, and severe weather has disrupted production and shipping in some facilities.
  • Sees FY 2014 EPS of slightly below $10.97 vs. $11.10 consensus.
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