维蒙特工业 2026年季度报告

FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended March 28, 2026or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from ______ to ______Commission File Number: 001-31429 Valmont Industries, Inc. (Exact name of registrant as specified in its charter) Delaware47-0351813(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 68154(Zip Code) (Address of principal executive offices) (402) 963-1000(Registrant’s telephone number, including area code) N/A(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No As of April 24, 2026, there were 19,413,651 shares of the registrant’s common stock outstanding. VALMONT INDUSTRIES, INC. AND SUBSIDIARIESTABLE OF CONTENTS PART I—FINANCIAL INFORMATION Item 1.Financial StatementsCondensed Consolidated Statements of Earnings for the thirteen weeks ended March 28,2026 and March 29, 20253Condensed Consolidated Statements of Comprehensive Income for the thirteen weeksended March 28, 2026 and March 29, 20254Condensed Consolidated Balance Sheets as of March 28, 2026 and December 27, 20255Condensed Consolidated Statements of Cash Flows for the thirteen weeks ended March28, 2026 and March 29, 20256Condensed Consolidated Statements of Shareholders’ Equity and RedeemableNoncontrolling Interests for the thirteen weeks ended March 28, 2026 and March 29,20257Notes to Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations18Item 3.Quantitative and Qualitative Disclosures About Market Risk27Item 4.Controls and Procedures27 PART II—OTHER INFORMATION Item 1.Legal Proceedings28Item 1A.Risk Factors28Item 2.Unregistered Sales of Equity Securities and Use of Proceeds28Item 3.Defaults Upon Senior Securities28Item 4.Mine Safety Disclosures28Item 5.Other Information29Item 6.Exhibits30 Signatures31 PART I—FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS VALMONT INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Dollars in thousands, except per-share amounts)(Unaudited) Thirteen weeks endedMarch 28,March 29,20262025Product sales$921,732$874,489Service sales107,46594,825Net sales1,029,197969,314Product cost of sales655,519621,043Service cost of sales56,80057,169Total cost of sales712,319678,212Gross profit316,878291,102Selling, general, and administrative expenses161,252162,788Operating income155,626128,314Other income (expenses):Interest expense(9,411)(10,115)Interest income1,3773,394Loss on deferred compensation investments(1,558)(841)Other, net(895)(2,730)Total other expenses(10,487)(10,292)Earnings before income taxes and equity method investment loss145,139118,022Income tax expense:Current21,44820,360Deferred15,66710,439Total income tax expense37,11530,799Earnings before equity method investment loss108,02487,223Equity method investment loss—(560)Net earnings108,02486,663Loss attributable to redeemable noncontrolling interests9598Net earnings attributable to Valmont Industries,Inc.$108,033$87,261Net earnings attributable to Valmont Industries,Inc. per share:Basic$5.55$4.35Diluted5.514.32 VALMONT INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Dollars in thousands)(Unaudited) See accompanying Notes to Condensed C