Valmont Industries Reports Second Quarter Sales

Valmont Industries, Inc. reported second quarter sales of $842.6 million, compared with $878.7 million for the same period of 2013.

The company stated that Irrigation Segment sales fell 19% to $219.9 million, reflecting a substantial sales decline in North American markets. While last year’s market remained influenced by the 2012 drought and high commodity prices, this year’s outlook for a decline in North American net farm income weighed on irrigation equipment demand.

Despite generally lower global crop prices, sales increased in most international regions, including Brazil, the Pacific region and the Middle East.

In the Irrigation Segment, second-half demand will reflect current crop yields and how the eventual supply and demand balance impacts farm income in North America. S