As a global slowdown threatens to take hold, I'm afraid earnings reports like the one just released by Valmont Industries
Firm-wide, the top line grew 33% year over year, and operating leverage kicked EBIT growth up by 64%. Strength was evident across the board, but it's worth honing in on Valmont's various segments to see where the major growth drivers are. This company's got two major divisions, so let's start with infrastructure products, which is the larger of the two.
Within infrastructure, Valmont specializes in poles. You know -- street lights, traffic signals, electric transmission, exotic dancing. OK, strike the last one -- I don't believe Valmont has tackled that niche market just yet. But along with Ameron
The utility business was the real standout here, with 43% sales growth. Considering the current and future revamp of our nation's transmission and distribution infrastructure by Quanta Services
Valmont's coatings segment provides galvanizing and anodizing services for steel and aluminum products, respectively. Galvanizing is a basic way to protect steel from rust and corrosion. You pick up some zinc from Horsehead Holdings
Let's wrap up with a look at agriculture, an area where Valmont crosses swords with crosstown competitor Lindsay
Fool contributor Toby Shute is active in CAPS under the name TMFSmashy, but he doesn't have a position in any company mentioned. Horsehead Holdings is a Motley Fool Hidden Gems selection. The Motley Fool has a disclosure policy.