Valmont sees ‘manageable leverage,’ ‘solid’ cash flow in first quarter

By Devika Patel

Knoxville, Tenn., April 19 – Valmont Industries, Inc. has “manageable” leverage and remains committed to maintaining its investment-grade credit rating.

“We have manageable leverage and solid cash flows, which supports M&A and other capital deployment activities,” executive vice president and chief financial officer Mark C. Jaksich said on the company’s first quarter ended March 31 earnings conference call on Thursday.

“We remain committed to an investment-grade credit rating and our cash priorities have not changed,” Jaksich said.

Cash and cash equivalents were $479,663,000 at the end of the first quarter, compared to $425,216,000 at the same time in 2017.

As of March 31, long-term debt was $753,647,000 compared to $754,523,000 at the same time last year.

Omaha-based Valmont makes engineered products and services for infrastructure and mechanized irrigation equipment for agriculture.

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