Call Start: 09:00 January 1, 0000 9:51 AM ET

Valmont Industries Inc. (NYSE:VMI)

Q1 2022 Earnings Conference Call

April 21, 2022 09:00 ET

CompanyParticipants

Renee Campbell - Senior Vice President of Investor Relations & Treasurer

Steve Kaniewski - President & Chief Executive Officer

Aaron Schapper - Group President of Infrastructure

Avner Applbaum - Executive Vice President & Chief Financial Officer

Timothy Francis - Senior Vice President & Corporate Controller

Conference Call Participants

Chris Moore - CJS Securities

Nathan Jones - Stifel

Brian Drab - William Blair

Ryan Connors - Boenning & Scattergood

Jon Braatz - Kansas City Capital

Operator

Greetings and welcome to the Valmont Industries, Inc. First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. We ask that you please limit yourself to one question and one brief follow-up and return to the question queue. [Operator Instructions] Please note, this conference is being recorded.

I'll now turn the conference over to your host, Renee Campbell, Senior Vice President, Investor Relations and Treasurer. Ms. Campbell, you may begin.

Renee Campbell

Thank you and good morning. Welcome to Valmont Industries' first quarter 2022 earnings call. With me today are Steve Kaniewski, President and Chief Executive Officer; Aaron Schapper, Group President of Infrastructure; Avner Applbaum, Executive Vice President and Chief Financial Officer; and Tim Francis, Senior Vice President and Corporate Controller. This morning, Steve will provide a brief summary of our first quarter results, commenting on our markets and long-term business strategy. Aaron will provide an overview of our new Infrastructure segment and Avner will review our financial performance and provide our outlook and indications for 2022 with closing remarks from Steve. This will be followed by Q&A.

A live webcast of the presentation will accompany today's call and is available for download from the webcast or on the Investors page at valmont.com. A replay will be available on our website later this morning. Please note that this call is subject to our disclosures on forward-looking statements which applies to today's discussion is outlined on Slide 2 of the presentation and will be read in full at the end of today's call.

I would now like to turn the call over to our President and Chief Executive Officer, Steve Kaniewski.

Steve Kaniewski

Thank you, Renee. Good morning, everyone and thank you for joining us. We delivered record first quarter financial results, driven by effective price management and strong demand across our portfolio. Our pricing actions were helped by our strong operational and quality performance. Our team's continued focus on pricing and our ability to meet our customers' expectations has led to a strong start to the year. Once again, our 11,000 Valmont employees around the world demonstrated diligence and dedication by serving our customers with innovative and essential products and services. Through an unwavering commitment to our core values, they continue to operate with passion and integrity, driving continuous improvement and delivering exceptional results. I am thankful for and proud of their success.