维蒙特工业 2025年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period endedSeptember 27, 2025or ☐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) 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. Large accelerated filer☒Non-accelerated filer☐Emerging growth company☐ 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 October 24, 2025, there were19,699,639shares 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 and thirty-nine weeksended September 27, 2025 and September 28, 20243Condensed Consolidated Statements of Comprehensive Income for the thirteen andthirty-nine weeks ended September 27, 2025 and September 28, 20244Condensed Consolidated Balance Sheets as of September 27, 2025 and December 28,20245Condensed Consolidated Statements of Cash Flows for the thirty-nine weeks endedSeptember 27, 2025 and September 28, 20246Condensed Consolidated Statements of Shareholders’ Equity and RedeemableNoncontrolling Interests for the thirteen and thirty-nine weeks ended September 27,2025 and September 28, 20247Notes to Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations24Item 3.Quantitative and Qualitative Disclosures About Market Risk34Item 4.Controls and Procedures35 PART II—OTHER INFORMATION Item 1.Legal Proceedings36Item 1A.Risk Factors36Item 2.Unregistered Sales of Equity Securities and Use of Proceeds36Item 3.Defaults Upon Senior Securities36Item 4.Mine Safety Disclosures36Item 5.Other Information36Item 6.Exhibits37 38 Signatures 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) VALMONT INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Dollars in thousands)(Unaudited) VALMONT INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except par value)(Unaudited) LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS,AND SHAREHOLDERS’ EQUITYCurrent liabilities: See accompanying Notes to Condensed Consolidated Financial Statements. VALMONT INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in thousands)(Unaudited) VALMONT INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITYAND REDEEMABLE NONCONTROLLING INTERESTS (Dollars in thousands, except per-share amounts)(Unaudited) VALMONT INDUSTRIES, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Dollars in thousands, except per-share amounts)(Unaudited) (1) BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of Valmont Industries, Inc.and its controlled subsidiaries (collectively, “Valmont” or the