Valmont Industries, Inc. (NYSE:VMI) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET
Company Participants
Renee Campbell - SVP, IR and Treasurer
Avner Applbaum - President and CEO
Tim Francis - Interim CFO
Conference Call Participants
Chris Moore - CJS Securities
Nathan Jones - Stifel
Brent Thielman - D.A. Davidson
Tom Hayes - C.L. King
Tyler Glover - William Blair
Jon Braatz - Oppenheimer
Operator
Greetings, and welcome to the Valmont Industries Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Renee Campbell, Senior Vice President, Investor Relations and Treasurer. Thank you. You may begin.
Renee Campbell
Thank you and good morning. Welcome to Valmont Industries second quarter 2024 earnings call. With me today are Avner Applbaum, President and Chief Executive Officer; and Tim Francis, Interim Chief Financial Officer. This morning, Avner will provide a summary of our second quarter results, current market dynamics and strategic priorities. Tim will review our second quarter financial performance and provide our updated outlook and indications for the year with closing remarks from Avner. 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 site at valmont.com. A replay will be available on our website later this morning.
Please note that this call is subject to our disclosure on forward-looking statements, which applies to today's discussion is outlined on Slide 3 of the presentation and will be read in full at the end of today's call. Finally, to stay updated with Valmont's latest news releases and information, please sign up for email alerts on our Investors site. We also invite you to follow Valmont and our brands on the social media channels linked on our website.
With that, I would like to turn the call over to Avner.
Avner Applbaum
Thank you, Renee. Good morning, everyone, and thank you for joining us.
Beginning on Slide 5, our second quarter results reflect the commitment of our 11,000 employees worldwide to delivering exceptional value through innovation, quality and service. Their relentless dedication to customer satisfaction, operational excellence and cost management has enhanced profitability and fostered resilience in dynamic market conditions.
As a result, we expanded operating margins to 14.2%, up 140 basis points over last year, with diluted earnings per share growing to $4.91. I'm pleased with the progress we're making in delivering stronger results even on comparable sales.