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DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Dec. 27, 2025
DERIVATIVE FINANCIAL INSTRUMENTS
Proceeds from hedge	$ 2,711
Senior Unsecured Notes 5.00% Due 2044 \| Senior Notes
DERIVATIVE FINANCIAL INSTRUMENTS
Stated rate		5.00%

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
Fair Value of Derivatives
Derivative assets (liabilities), at fair value, net	$ (6,504)	$ 1,320
Commodity contracts \| Prepaid expenses and other current assets
Fair Value of Derivatives
Derivative assets (liabilities), at fair value, net	1,590	617
Commodity contracts \| Other accrued expenses
Fair Value of Derivatives
Derivative assets (liabilities), at fair value, net		(371)
Cross-currency swap contracts \| Prepaid expenses and other current assets
Fair Value of Derivatives
Derivative assets (liabilities), at fair value, net	6	$ 1,074
Cross-currency swap contracts \| Other accrued expenses
Fair Value of Derivatives
Derivative assets (liabilities), at fair value, net	$ (8,100)

BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 27, 2025

BUSINESS SEGMENTS

Schedule of Segment Reporting Information of Sales and Operating Income


		Fiscal year ended December 27, 2025
		Infrastructure			Agriculture			Consolidated
Sales		$	3,099,034		$	1,020,750		$	4,119,784
Intersegment sales			(9,302)			(6,380)			(15,682)
Net sales			3,089,732			1,014,370			4,104,102
Cost of sales			2,164,098			700,068			2,864,166
Gross profit			925,634			314,302			1,239,936
Selling, general, and administrative expenses (a)			398,504			217,359			615,863
Impairment of long-lived assets			89,356			1,981			91,337
Realignment charges			7,600			2,886			10,486
Segment operating income		$	430,174		$	92,076			522,250
Unallocated corporate expenses									101,770
Corporate realignment charges									4,904
Total operating income								$	415,576


		Fiscal year ended December 28, 2024
		Infrastructure			Agriculture			Consolidated
Sales		$	3,008,576		$	1,083,708		$	4,092,284
Intersegment sales			(10,195)			(7,055)			(17,250)
Net sales			2,998,381			1,076,653			4,075,034
Cost of sales			2,094,645			739,177			2,833,822
Gross profit			903,736			337,476			1,241,212
Selling, general, and administrative expenses (a)			406,596			199,140			605,736
Segment operating income		$	497,140		$	138,336			635,476
Unallocated corporate expenses									110,892
Total operating income								$	524,584


		Fiscal year ended December 30, 2023
		Infrastructure			Agriculture			Consolidated
Sales		$	3,010,067		$	1,182,223		$	4,192,290
Intersegment sales			(10,430)			(7,262)			(17,692)
Net sales			2,999,637			1,174,961			4,174,598
Cost of sales			2,157,556			781,008			2,938,564
Gross profit			842,081			393,953			1,236,034
Selling, general, and administrative expenses (a)			424,997			230,729			655,726
Impairment of long-lived assets			3,571			137,273			140,844
Realignment charges			17,260			9,101			26,361
Segment operating income		$	396,253		$	16,850			413,103
Unallocated corporate expenses									112,697
Corporate realignment charges									8,849
Total operating income								$	291,557

(a)

Selling, general, and administrative expenses for each reportable segment includes compensation, certain allocated overhead expenses including information technology and enterprise resource planning, commissions, incentives, depreciation and amortization expense, research and development, and professional services fees.


		Fiscal year ended December 27, 2025
		Infrastructure			Agriculture			Intersegment			Consolidated
Geographical market:
North America		$	2,515,602		$	506,316		$	(15,543)		$	3,006,375
International			583,432			514,434			(139)			1,097,727
Total sales		$	3,099,034		$	1,020,750		$	(15,682)		$	4,104,102

Product line:
Utility		$	1,511,053		$	—		$	—		$	1,511,053
Lighting and Transportation			830,268			—			—			830,268
Coatings			362,209			—			(9,163)			353,046
Telecommunications			313,882			—			—			313,882
Solar			81,622			—			(139)			81,483
Irrigation Equipment and Parts			—			926,276			(6,380)			919,896
Technology Products and Services			—			94,474			—			94,474
Total sales		$	3,099,034		$	1,020,750		$	(15,682)		$	4,104,102


		Fiscal year ended December 28, 2024
		Infrastructure			Agriculture			Intersegment			Consolidated
Geographical market:
North America		$	2,348,250		$	570,517		$	(17,045)		$	2,901,722
International			660,326			513,191			(205)			1,173,312
Total sales		$	3,008,576		$	1,083,708		$	(17,250)		$	4,075,034

Product line:
Utility		$	1,368,333		$	—		$	—		$	1,368,333
Lighting and Transportation			884,128			—			—			884,128
Coatings			353,739			—			(9,992)			343,747
Telecommunications			250,770			—			—			250,770
Solar			151,606			—			(203)			151,403
Irrigation Equipment and Parts			—			985,840			(7,055)			978,785
Technology Products and Services			—			97,868			—			97,868
Total sales		$	3,008,576		$	1,083,708		$	(17,250)		$	4,075,034


		Fiscal year ended December 30, 2023
		Infrastructure			Agriculture			Intersegment			Consolidated
Geographical market:
North America		$	2,318,801		$	587,056		$	(16,282)		$	2,889,575
International			691,266			595,167			(1,410)			1,285,023
Total sales		$	3,010,067		$	1,182,223		$	(17,692)		$	4,174,598

Product line:
Utility		$	1,291,670		$	—		$	—		$	1,291,670
Lighting and Transportation			916,170			—			—			916,170
Coatings			354,330			—			(9,020)			345,310
Telecommunications			252,165			—			—			252,165
Solar			195,732			—			(1,410)			194,322
Irrigation Equipment and Parts			—			1,069,425			(7,262)			1,062,163
Technology Products and Services			—			112,798			—			112,798
Total sales		$	3,010,067		$	1,182,223		$	(17,692)		$	4,174,598


		December 27,			December 28,
		2025			2024
ASSETS:
Infrastructure		$	2,312,500		$	2,181,345
Agriculture			768,715			876,486
Total segment assets			3,081,215			3,057,831
Unallocated corporate assets			288,114			272,141
Total assets		$	3,369,329		$	3,329,972


	Fiscal Year Ended
	December 27,			December 28,			December 30,
	2025			2024			2023
CAPITAL EXPENDITURES:
Infrastructure	$	130,041		$	65,017		$	68,295
Agriculture		11,264			11,537			10,890
Total segment capital expenditures		141,305			76,554			79,185
Unallocated corporate capital expenditures		3,730			2,897			17,586
Total capital expenditures	$	145,035		$	79,451		$	96,771


	Fiscal Year Ended
	December 27,			December 28,			December 30,
	2025			2024			2023
DEPRECIATION AND AMORTIZATION:
Infrastructure	$	65,127		$	65,717		$	64,654
Agriculture		15,304			20,606			23,409
Total segment depreciation and amortization expense		80,431			86,323			88,063
Unallocated corporate depreciation and amortization expense		8,078			9,072			10,645
Total depreciation and amortization expense	$	88,509		$	95,395		$	98,708

Summary by geographical area by location


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
NET SALES:
United States		$	2,957,136		$	2,856,033		$	2,860,951
Australia			282,257			310,096			313,075
Brazil			159,127			200,946			311,367
Other			705,582			707,959			689,205
Total net sales		$	4,104,102		$	4,075,034		$	4,174,598


		December 27,			December 28,
		2025			2024
LONG-LIVED ASSETS:
United States		$	1,132,303		$	1,117,631
Australia			105,400			89,415
Other			411,978			439,534
Total long-lived assets		$	1,649,681		$	1,646,580

LEASES - Schedule of Assets and Liabilities Lessee (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
LEASES
Operating lease ROU assets	$ 139,857	$ 146,916
Current portion of operating lease liabilities	$ 21,818	$ 22,446
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued expenses	Other accrued expenses
Long-term operating lease liabilities	$ 130,007	$ 134,534
Present value of lease liabilities	$ 151,825	$ 156,980

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - $ / shares	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS
Cash dividends declared (in dollars per share)	$ 2.72	$ 2.4	$ 2.4
Repurchases of common stock shares acquired (in shares)	607,583	339,973	1,282,706

GOODWILL AND OTHER INTANGIBLE ASSETS - Non-Amortized Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
Trade names
Non-amortized intangible assets
Non-amortizing intangible assets	$ 55,412	$ 57,738

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Section 55
-Paragraph 38
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

+ Details

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries
United States	$ 417,532	$ 328,953	$ 195,491
Foreign	(39,890)	139,728	40,961
Earnings before income taxes and equity method investment loss	377,642	468,681	236,452
Current:
Federal	208	84,110	42,226
State	7,853	17,738	8,480
Foreign	36,329	42,150	56,107
Total current income tax expense	44,390	143,998	106,813
Non-current:	(1,330)	(1,365)	1,957
Deferred:
Federal	2,103	(21,498)	(12,585)
State	2,882	(5,261)	(2,586)
Foreign	(24,181)	2,104	(3,478)
Total deferred income tax benefit	(19,196)	(24,655)	(18,649)
Total income tax expense	$ (23,864)	$ (117,978)	$ (90,121)
Reconciliations of statutory federal income tax rate and effective tax rate
Statutory federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	2.20%	2.20%	1.80%
Carryforwards, credits and changes in valuation allowances		(1.90%)	(2.40%)
Foreign jurisdictional tax rate differences		1.50%	4.60%
Changes in unrecognized tax benefits	(0.40%)	(0.30%)	0.80%
Impairment of goodwill and other intangible assets		0.00%	11.90%
Excess tax benefit on equity compensation		0.70%	1.10%
Loss on divestitures		0.10%
Other		1.90%	(0.70%)
Effective tax rate	6.30%	25.20%	38.10%
Deferred income tax assets:
Accrued expenses and allowances	$ 45,069	$ 28,099
Allowance for doubtful accounts	11,237	3,241
Tax credits and loss carryforwards	59,295	56,180
Inventory allowances	16,367	10,538
Accrued compensation and benefits	21,951	25,779
Lease liabilities	37,957	41,628
Research and development expenditures	29,549	41,214
Deferred compensation	13,598	13,351
Gross deferred income tax assets	235,023	220,030
Valuation allowance	(37,239)	(44,920)
Net deferred income tax assets	197,784	175,110
Deferred income tax liabilities:
Property, plant, and equipment	42,842	36,342
Intangible assets	48,559	48,571
Defined benefit pension asset	9,917	11,630
Lease assets	37,956	41,627
Other deferred tax liabilities	6,075	5,375
Total deferred income tax liabilities	145,349	143,545
Net deferred income tax asset (liability)	52,435	31,565
Deferred income tax assets (liabilities), Balance Sheet Caption
Tax credits and loss carryforwards	59,295	56,180
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits-beginning of period	2,707	4,306
Gross increases (decreases) from tax positions in prior period	44	(44)
Gross increases from currentperiod tax positions	1,381	410
Settlements with taxing authorities		(1,277)
Lapses of statutes of limitation	(1,517)	(776)
Gross unrecognized tax benefits-end of period	2,527	2,707	$ 4,306
Accrued interest and penalties relating to unrecognized tax benefits	156	383
Unrecognized tax benefits that, if recognized, would affect effective tax rate	$ 2,643	$ 2,993

INVENTORIES

12 Months Ended

Dec. 27, 2025

INVENTORIES

INVENTORIES

(5) INVENTORIES

As of December 27, 2025 and December 28, 2024, inventories consisted of the following:


	December 27,			December 28,
	2025			2024
Raw materials and purchased parts	$	253,594		$	231,811
Work in process		36,388			35,466
Finished and manufactured goods		276,414			322,986
Total inventories	$	566,396		$	590,263

As of December 27, 2025 and December 28, 2024, the Company’s inventory reserves were $68,001 and $41,146, respectively.

REALIGNMENT ACTIVITIES - Pre-tax Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 15,390	$ 35,210
Realignment activities
Restructuring Cost and Reserve [Line Items]
Restructuring charges	16,066
Severance and other employee benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	11,267	35,210
Contract/lease termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,324
Purchase commitment losses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,475
Infrastructure \| Realignment activities
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,222
Infrastructure \| Severance and other employee benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,423	17,260
Infrastructure \| Contract/lease termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,324
Infrastructure \| Purchase commitment losses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,475
Agriculture \| Realignment activities
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,940
Agriculture \| Severance and other employee benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,940	9,101
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,904	8,849
Corporate \| Realignment activities
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,904
Corporate \| Severance and other employee benefit costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 4,904	$ 8,849

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 27, 2025

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

(14) FAIR VALUE MEASUREMENTS

Unless otherwise specified, the carrying amounts of cash and cash equivalents, receivables, accounts payable, notes payable to banks, and accrued expenses approximate fair value due to the short maturity of these instruments. The fair values of the Company’s long-term debt instruments are based on future cash flows associated with each instrument, discounted using the Company’s current borrowing rate for similar debt instruments of comparable maturities. Fair value estimates are made at a specific point in time, and the underlying assumptions may change based on market conditions. As of December 27, 2025, the carrying amount of the Company’s long-term debt was $795,663 with an estimated fair value of approximately $766,814. As of December 28, 2024, the carrying amount of the Company’s long-term debt was $730,633 with an estimated fair value of approximately $692,877. See Note 10 for further information.

ASC 820 establishes a three‑level hierarchy for fair value measurements, which is based on the transparency of inputs used to value an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:

●

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.

●

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

●

Level 3: Unobservable inputs for the asset or liability.

The categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following are the valuation methodologies used for assets and liabilities measured at fair value:

Deferred Compensation Investments: The Company’s deferred compensation investments include mutual funds invested in debt and equity securities in the Valmont Deferred Compensation Plan. Quoted market prices are available for these securities in an active market. The investments are included in “Deferred compensation investments” in the Consolidated Balance Sheets.

Derivative Financial Instruments: The fair values of foreign currency, commodity, and cross-currency swap derivative contracts are based on valuation models that use market-observable inputs, including forward and spot prices for commodities and currencies. See Note 15 for further information.

Mutual Funds: The Company has short-term investments in various mutual funds with readily determinable fair values.


	Carrying Value		Fair Value Measurement Using:
	December 27, 2025		Level 1		Level 2		Level 3
Deferred compensation investments	$	29,631	$	29,631	$	—	$	—
Derivative financial instruments, net		(6,504)		—		(6,504)		—
Cash and cash equivalents—mutual funds		3,752		3,752		—		—


	Carrying Value		Fair Value Measurement Using:
	December 28, 2024		Level 1		Level 2		Level 3
Deferred compensation investments	$	27,379	$	27,379	$	—	$	—
Derivative financial instruments, net		1,320		—		1,320		—
Cash and cash equivalents—mutual funds		11,063		11,063		—		—

The fair value redemption amounts of certain redeemable noncontrolling interests are measured on a recurring basis utilizing Level 3 inputs, including estimates of future revenue, operating margins, growth rates, and discount rates.

In the second quarter of fiscal 2025, the carrying values of certain long-lived assets that will no longer be utilized were reduced to their respective fair values, based on Level 3 inputs, resulting in impairment charges totaling $19,657 in the Infrastructure segment and $586 in the Agriculture segment.

Certain assets and liabilities, including goodwill, other intangible assets, and asset retirement obligations, are measured at fair value on a non-recurring basis using Level 3 inputs. In the fourth quarter of fiscal 2025, the Company recorded approximately $10,254 of asset retirement obligations, primarily related to environmental remediation obligations within the Asia-Pacific region. The fair value of these obligations was determined using Level 3 inputs, including a credit-adjusted risk-free rate, inflation assumptions, and probability-weighted estimates of potential environmental remediation scenarios. See Note 7 for further information on goodwill and other intangible assets.

Unless otherwise specified, the Company believes the carrying values of financial instruments approximate their fair values.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
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+ Details

DEFINED BENEFIT RETIREMENT PLAN - Changes in Level 3 plan assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024
DEFINED BENEFIT RETIREMENT PLAN
Beginning Balance	$ 461,177
Ending balance	484,488	$ 461,177
Bulk annuity insurance policy \| Level 3
DEFINED BENEFIT RETIREMENT PLAN
Beginning Balance	82,856
Net Realized and Unrealized Gains (Losses)	4,607	(3,074)
Net Purchases, Issuances, and Settlements	(5,133)	87,445
Currency Impact	6,041	(1,515)
Ending balance	$ 88,371	$ 82,856

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

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+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Sep. 27, 2025	Jun. 28, 2025	Sep. 28, 2024	Sep. 30, 2023	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Goodwill [Line Items]
Goodwill, Gross						$ 793,229	$ 802,346
Accumulated impairment losses						(169,382)	(169,382)
Carrying amount of goodwill
Balance at the beginning of the period					$ 623,847	632,964
Acquisition measurement period adjustment						331
Divestiture						(1,509)
Impairment	$ 0		$ 0		$ (64,869)
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]					Asset Impairment Charges
Foreign currency translation					$ 11,976	(7,939)
Balance at the end of the period					570,954	623,847
Infrastructure
Goodwill [Line Items]
Goodwill, Gross						470,988	478,663
Accumulated impairment losses						(49,382)	(49,382)
Carrying amount of goodwill
Balance at the beginning of the period					421,606	429,281
Divestiture						(1,509)
Impairment				$ (1,915)	(64,869)
Foreign currency translation					10,850	(6,166)
Balance at the end of the period					367,587	421,606
Infrastructure \| Solar Reporting Unit
Carrying amount of goodwill
Impairment		$ (41,869)
Infrastructure \| Access Systems
Carrying amount of goodwill
Impairment		$ (23,000)
Agriculture
Goodwill [Line Items]
Goodwill, Gross						322,241	323,683
Accumulated impairment losses						(120,000)	$ (120,000)
Carrying amount of goodwill
Balance at the beginning of the period					202,241	203,683
Acquisition measurement period adjustment						331
Impairment				$ (120,000)
Foreign currency translation					1,126	(1,773)
Balance at the end of the period					$ 203,367	$ 202,241

INCOME TAXES (Tables)

12 Months Ended

Dec. 27, 2025

INCOME TAXES

Schedule of earnings before income taxes and equity in loss of nonconsolidated subsidiaries


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
United States		$	417,532		$	328,953		$	195,491
Foreign			(39,890)			139,728			40,961
Earnings before income taxes and equity method investment loss		$	377,642		$	468,681		$	236,452

Schedule of Income Tax Expense (Benefit)


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
Current:
Federal		$	208		$	84,110		$	42,226
State			7,853			17,738			8,480
Foreign			36,329			42,150			56,107
Total current income tax expense			44,390			143,998			106,813
Non-current:			(1,330)			(1,365)			1,957
Deferred:
Federal			2,103			(21,498)			(12,585)
State			2,882			(5,261)			(2,586)
Foreign			(24,181)			2,104			(3,478)
Total deferred income tax benefit			(19,196)			(24,655)			(18,649)
Total income tax expense		$	23,864		$	117,978		$	90,121

Schedule of total income taxes paid net of refunds


		Fiscal Year Ended
		December 27,
Jurisdiction		2025
U.S. federal		$	26,484
Aggregated state and local			13,397
Foreign:
Australia			11,853
Brazil			6,468
China			4,293
Italy			7,137
Mexico			4,577
Other			10,019
Total foreign			44,347
Total net income taxes paid		$	84,228

Schedule of Reconciliation of Statutory Federal Income Tax Rate and Effective Tax Rate


		Fiscal Year Ended
		December 27, 2025
		Amount		Percent
U.S. federal statutory income tax rate		$	79,305	21.0	%
State and local income taxes, net of federal income tax effect (a)			8,141	2.2
Domestic federal:
Tax credits			(7,236)	(1.9)
Nontaxable or nondeductible items			1,559	0.4
Effect of cross-border tax laws:
Deduction for worthless securities			(66,094)	(17.5)
Other			2,878	0.7
Changes in valuation allowances			(13,119)	(3.5)
Foreign tax effects:
Australia
Goodwill impairment			6,900	1.8
Other			2,480	0.7
Brazil
Foreign jurisdictional tax rate differences			(7,610)	(2.0)
Other			3,750	1.0
Italy
Goodwill impairment			10,054	2.7
Other			(125)	(0.0)
Other foreign jurisdictions			2,944	0.8
Changes in unrecognized tax benefits			(1,330)	(0.4)
Other adjustments			1,367	0.3
Effective tax rate		$	23,864	6.3	%

(a)

State taxes in Alabama, California, Georgia, Illinois, Iowa, Louisiana, Maryland, Pennsylvania, and Texas made up the majority.


		Fiscal Year Ended
		December 28,			December 30,
		2024			2023
U.S. federal statutory income tax rate		21.0	%		21.0	%
State income taxes, net of federal benefit		2.2			1.8
Carryforwards, credits and changes in valuation allowances		(1.9)			(2.4)
Foreign jurisdictional tax rate differences		1.5			4.6
Changes in unrecognized tax benefits		(0.3)			0.8
Impairment of goodwill and other intangible assets		—			11.9
Excess tax benefit on equity compensation		0.7			1.1
Loss on divestitures		0.1			—
Other		1.9			(0.7)
Effective tax rate		25.2	%		38.1	%

Schedule of Tax Effects of Significant Items Comprising Net Deferred Income Tax Liabilities


		December 27,			December 28,
		2025			2024
Deferred income tax assets:
Accrued expenses and allowances		$	45,069		$	28,099
Allowance for doubtful accounts			11,237			3,241
Tax credits and loss carryforwards			59,295			56,180
Inventory allowances			16,367			10,538
Accrued compensation and benefits			21,951			25,779
Lease liabilities			37,957			41,628
Research and development expenditures			29,549			41,214
Deferred compensation			13,598			13,351
Gross deferred income tax assets			235,023			220,030
Valuation allowance			(37,239)			(44,920)
Net deferred income tax assets			197,784			175,110
Deferred income tax liabilities:
Property, plant, and equipment			42,842			36,342
Intangible assets			48,559			48,571
Defined benefit pension asset			9,917			11,630
Lease assets			37,956			41,627
Other deferred tax liabilities			6,075			5,375
Total deferred income tax liabilities			145,349			143,545
Net deferred income tax assets		$	52,435		$	31,565

Schedule of Activity Related to Unrecognized Tax Benefits


		Fiscal Year Ended
		December 27,			December 28,
		2025			2024
Gross unrecognized tax benefits—beginning of period		$	2,707		$	4,306
Gross increases (decreases) from tax positions in prior period			(44)			44
Gross increases from current‑period tax positions			1,381			410
Settlements with taxing authorities			—			(1,277)
Lapses of statutes of limitation			(1,517)			(776)
Gross unrecognized tax benefits—end of period		$	2,527		$	2,707

WARRANTIES (Tables)

12 Months Ended

Dec. 27, 2025

WARRANTIES

Schedule of Changes in the Product Warranty Accrual


	Fiscal Year Ended
	December 27,			December 28,
	2025			2024
Balance—beginning of period	$	23,751		$	22,434
Payments made		(21,886)			(20,790)
Change in liability for warranties issued during the period		24,167			23,496
Change in liability for pre-existing warranties		551			(692)
Currency translation		731			(697)
Balance—end of period	$	27,314		$	23,751

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Comprehensive Income (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign currency translation adjustments	$ (248,741)	$ (306,159)
Hedging activities	15,405	21,350
Defined benefit pension plan	(57,179)	(47,966)
Accumulated other comprehensive loss	$ (290,515)	$ (332,775)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

LEASES (Details)	Dec. 27, 2025
LEASES
Lease renewal term	10 years
Minimum
LEASES
Remaining lease term	1 year
Maximum
LEASES
Remaining lease term	21 years

DIVESTITURES

12 Months Ended

Dec. 27, 2025

DIVESTITURES

DIVESTITURES

(3) DIVESTITURES

On November 25, 2024, the Company completed the sale of George Industries, a coatings and anodizing company in California, which was reported in the Infrastructure segment. The Company received net proceeds of $500 from this sale. In the fourth quarter of fiscal 2024, a pre-tax loss of $2,779 was reported in “Other income (expenses)” in the Consolidated Statements of Earnings.

On October 31, 2024, the Company completed the sale of its extractive business, which included the manufacturing and distribution of screening products to the mining and quarrying sectors in Australia and New Zealand, which was reported in the Infrastructure segment. The Company received net proceeds of $5,042 Australian dollars ($3,330 U.S. dollars) at closing, with an additional $1,800 Australian dollars ($1,172 U.S. dollars) to be received through two payments. The first payment of $800 Australian dollars ($503 U.S. dollars) was received in the first quarter of fiscal 2025, and the second payment is expected to be received in the second quarter of fiscal 2026. In the fourth quarter of fiscal 2024, a pre-tax loss of $2,567 Australian dollars ($1,695 U.S. dollars) was reported in “Other income (expenses)” in the Consolidated Statements of Earnings.

On April 30, 2023, the Company completed the sale of Torrent Engineering and Equipment Company, LLC, an integrator of prepackaged pump stations in Indiana, which was reported in the Agriculture segment. The Company received net proceeds of $6,369 from this sale. In the second quarter of fiscal 2023, a pre-tax gain of $2,994 was reported in “Other income (expenses)” in the Consolidated Statements of Earnings.

ACQUISITIONS (Tables)

12 Months Ended

Dec. 27, 2025

HR Products

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition


	August 31,
	2023
Current assets	$	24,153
Property, plant, and equipment		1,397
Goodwill		9,508
Customer relationships		11,503
Other non-current assets		3,997
Total fair value of assets acquired		50,558
Current liabilities		4,183
Deferred income taxes		3,046
Operating lease liabilities		2,792
Total fair value of liabilities assumed		10,021
Net assets acquired	$	40,537

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
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+ Details

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 27, 2025

STOCK-BASED COMPENSATION

Schedule of Assumptions Used in Estimating Fair Value of Each Option Grant


		December 27,		December 28,		December 30,
		2025		2024		2023
Expected volatility		31.62	%	31.65	%	31.97	%
Risk-free interest rate		3.73	%	4.22	%	4.21	%
Expected life from vesting date		5.4 yrs		5.4 yrs		5.4 yrs
Dividend yield		0.86	%	0.88	%	0.87	%

Schedule of Activity of Stock Plans


							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
		Number of		Exercise			Contractual		Intrinsic
		Shares		Price			Term		Value
Outstanding as of December 28, 2024		133,433		$	253.11
Granted		22,216			411.97
Exercised		(34,215)			227.29
Forfeited		(2,250)			332.63
Outstanding as of December 27, 2025		119,184		$	289.91		7.89		$	14,575
Options vested or expected to vest as of December 27, 2025		117,062		$	288.95		7.87			14,427
Options exercisable as of December 27, 2025		68,307		$	250.49		6.91			11,046


							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
		Number of		Exercise			Contractual		Intrinsic
		Shares		Price			Term		Value
Outstanding as of December 30, 2023		181,530		$	220.77
Granted		25,548			331.47
Exercised		(49,583)			164.38
Forfeited		(24,062)			268.84
Outstanding as of December 28, 2024		133,433		$	253.11		7.93		$	8,281
Options vested or expected to vest as of December 28, 2024		131,198		$	252.57		7.91			8,200
Options exercisable as of December 28, 2024		79,824		$	232.00		7.10			6,340


							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
		Number of		Exercise			Contractual		Intrinsic
		Shares		Price			Term		Value
Outstanding as of December 31, 2022		195,690		$	214.62
Granted		43,340			226.55
Exercised		(39,055)			155.24
Forfeited		(18,445)			307.81
Outstanding as of December 30, 2023		181,530		$	220.77		7.99		$	5,992
Options vested or expected to vest as of December 30, 2023		178,820		$	220.31		7.96			5,975
Options exercisable as of December 30, 2023		116,545		$	203.78		7.13			5,576

Schedule of Non-Vested Stock and Restricted Stock Units


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
Restricted stock units granted			43,255			52,175			67,723
Weighted‑average per share price on grant date		$	394.23		$	295.84		$	233.96
Total intrinsic value as of December 27, 2025		$	44,095		$	42,381		$	35,538

Schedule of Share-based Payment Arrangement, Performance Shares, Outstanding Activity


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
Shares granted			28,238			34,665			38,201
Weighted‑average per share price on grant date		$	305.16		$	234.52		$	299.20
Total intrinsic value as of December 27, 2025		$	27,347		$	21,577		$	24,605

BUSINESS SEGMENTS - Summary by Business Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
BUSINESS SEGMENTS
Number of reportable segments not disclosed flag	true
Net sales	$ 4,104,102	$ 4,075,034	$ 4,174,598
Cost of sales	2,864,166	2,833,822	2,938,564
Gross profit	1,239,936	1,241,212	1,236,034
Selling, general, and administrative expenses	717,633	716,628	768,423
Realignment charges	15,390		35,210
Total operating income	415,576	524,584	291,557
Total assets	3,369,329	3,329,972
Total capital expenditures	145,035	79,451	96,771
Total depreciation and amortization expense	88,509	95,395	98,708
Utility
BUSINESS SEGMENTS
Net sales	1,511,053	1,368,333	1,291,670
Lighting and Transportation
BUSINESS SEGMENTS
Net sales	830,268	884,128	916,170
Coatings
BUSINESS SEGMENTS
Net sales	353,046	343,747	345,310
Telecommunications
BUSINESS SEGMENTS
Net sales	313,882	250,770	252,165
Solar
BUSINESS SEGMENTS
Net sales	81,483	151,403	194,322
Irrigation Equipment and Parts
BUSINESS SEGMENTS
Net sales	919,896	978,785	1,062,163
Technology Products and Services
BUSINESS SEGMENTS
Net sales	94,474	97,868	112,798
North America
BUSINESS SEGMENTS
Net sales	3,006,375	2,901,722	2,889,575
International
BUSINESS SEGMENTS
Net sales	1,097,727	1,173,312	1,285,023
Infrastructure
BUSINESS SEGMENTS
Net sales	3,089,732	2,998,381	2,999,637
Agriculture
BUSINESS SEGMENTS
Net sales	1,014,370	1,076,653	1,174,961
Corporate
BUSINESS SEGMENTS
Realignment charges	4,904		8,849
Operating segment
BUSINESS SEGMENTS
Net sales	4,119,784	4,092,284	4,192,290
Cost of sales	2,864,166	2,833,822	2,938,564
Gross profit	1,239,936	1,241,212	1,236,034
Selling, general, and administrative expenses	615,863	605,736	655,726
Impairment of long-lived assets	91,337		140,844
Realignment charges	10,486		26,361
Total operating income	522,250	635,476	413,103
Total assets	3,081,215	3,057,831
Total capital expenditures	141,305	76,554	79,185
Total depreciation and amortization expense	80,431	86,323	88,063
Operating segment \| Infrastructure
BUSINESS SEGMENTS
Net sales	3,099,034	3,008,576	3,010,067
Cost of sales	2,164,098	2,094,645	2,157,556
Gross profit	925,634	903,736	842,081
Selling, general, and administrative expenses	398,504	406,596	424,997
Impairment of long-lived assets	89,356		3,571
Realignment charges	7,600		17,260
Total operating income	430,174	497,140	396,253
Total assets	2,312,500	2,181,345
Total capital expenditures	130,041	65,017	68,295
Total depreciation and amortization expense	65,127	65,717	64,654
Operating segment \| Infrastructure \| Utility
BUSINESS SEGMENTS
Net sales	1,511,053	1,368,333	1,291,670
Operating segment \| Infrastructure \| Lighting and Transportation
BUSINESS SEGMENTS
Net sales	830,268	884,128	916,170
Operating segment \| Infrastructure \| Coatings
BUSINESS SEGMENTS
Net sales	362,209	353,739	354,330
Operating segment \| Infrastructure \| Telecommunications
BUSINESS SEGMENTS
Net sales	313,882	250,770	252,165
Operating segment \| Infrastructure \| Solar
BUSINESS SEGMENTS
Net sales	81,622	151,606	195,732
Operating segment \| Infrastructure \| North America
BUSINESS SEGMENTS
Net sales	2,515,602	2,348,250	2,318,801
Operating segment \| Infrastructure \| International
BUSINESS SEGMENTS
Net sales	583,432	660,326	691,266
Operating segment \| Agriculture
BUSINESS SEGMENTS
Net sales	1,020,750	1,083,708	1,182,223
Cost of sales	700,068	739,177	781,008
Gross profit	314,302	337,476	393,953
Selling, general, and administrative expenses	217,359	199,140	230,729
Impairment of long-lived assets	1,981		137,273
Realignment charges	2,886		9,101
Total operating income	92,076	138,336	16,850
Total assets	768,715	876,486
Total capital expenditures	11,264	11,537	10,890
Total depreciation and amortization expense	15,304	20,606	23,409
Operating segment \| Agriculture \| Irrigation Equipment and Parts
BUSINESS SEGMENTS
Net sales	926,276	985,840	1,069,425
Operating segment \| Agriculture \| Technology Products and Services
BUSINESS SEGMENTS
Net sales	94,474	97,868	112,798
Operating segment \| Agriculture \| North America
BUSINESS SEGMENTS
Net sales	506,316	570,517	587,056
Operating segment \| Agriculture \| International
BUSINESS SEGMENTS
Net sales	514,434	513,191	595,167
Unallocated corporate segment
BUSINESS SEGMENTS
Selling, general, and administrative expenses	101,770	110,892	112,697
Total assets	288,114	272,141
Total capital expenditures	3,730	2,897	17,586
Total depreciation and amortization expense	8,078	9,072	10,645
Intersegment
BUSINESS SEGMENTS
Net sales	(15,682)	(17,250)	(17,692)
Intersegment \| Coatings
BUSINESS SEGMENTS
Net sales	(9,163)	(9,992)	(9,020)
Intersegment \| Solar
BUSINESS SEGMENTS
Net sales	(139)	(203)	(1,410)
Intersegment \| Irrigation Equipment and Parts
BUSINESS SEGMENTS
Net sales	(6,380)	(7,055)	(7,262)
Intersegment \| North America
BUSINESS SEGMENTS
Net sales	(15,543)	(17,045)	(16,282)
Intersegment \| International
BUSINESS SEGMENTS
Net sales	(139)	(205)	(1,410)
Intersegment \| Infrastructure
BUSINESS SEGMENTS
Net sales	(9,302)	(10,195)	(10,430)
Intersegment \| Agriculture
BUSINESS SEGMENTS
Net sales	$ (6,380)	$ (7,055)	$ (7,262)

DEFINED BENEFIT RETIREMENT PLAN (Details) £ in Thousands, $ in Thousands	12 Months Ended
	Dec. 27, 2025 USD ($) employee $ / £	Dec. 27, 2025 GBP (£) employee	Dec. 28, 2024 USD ($) $ / £	Dec. 30, 2023 USD ($)
EMPLOYEE RETIREMENT SAVINGS PLAN
Pension retirement benefits to qualified employees as percent of final salary per year of service	1.67%	1.67%
Eligibility age	65 years	65 years
Active members of defined benefit retirement income plan \| employee	0	0
Foreign currency exchange rate used to translate the net pension liability \| $ / £	1.349		1.257
Projected Benefit Obligation
Beginning balance	$ 414,657		$ 477,763
Interest cost	$ 22,243		$ 21,136
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating
Benefits paid	$ (23,955)		$ (21,264)
Actuarial (gain) loss	1,579		(58,156)
Currency translation gain (loss)	30,298		(4,822)
Ending balance	444,822		414,657
Plan Assets
Fair value beginning balance	461,177		493,167
Employer contributions	3,159		19,599
Actual return on plan assets	10,661		(24,723)
Benefits paid	(23,955)		(21,264)
Currency translation gain (loss)	33,446		(5,602)
Fair value ending balance	484,488		461,177
Funded Status
Funded status	39,666		46,520	$ 15,404
Accumulated other comprehensive income (loss)
Balance at the beginning of the period	(75,352)		(89,151)
Actuarial gain (loss)	(13,952)		10,888
Amortization of prior service costs	526		512
Amortization of net actuarial loss	1,316		1,537
Currency translation gain (loss)	(5,809)		862
Balance at the end of the period	$ (93,271)		$ (75,352)
Weighted average actuarial assumptions used to determine the benefit obligation
Discount rate for benefit obligations	5.50%		5.50%	4.50%
Consumer Price Index ("CPI") inflation	2.15%		2.40%
Retail Price Index ("RPI") inflation	2.85%		3.20%
Cost (Benefit)
Interest cost	$ 22,243		$ 21,136
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating
Expected return on plan assets	$ (23,033)		$ (22,545)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Amortization of prior service costs	$ 526		$ 512
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Amortization of net actuarial loss	$ 1,316		$ 1,537
Net periodic pension cost	$ 1,052		$ 640
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Weighted average actuarial assumptions used to determine pension cost
Discount rate for benefit obligations	5.50%	5.50%	4.50%
Discount rate for interest cost	5.25%	5.25%	4.50%
Expected return on plan assets	5.50%	5.50%	5.05%
CPI Inflation	2.40%	2.40%	2.25%
RPI Inflation	3.20%	3.20%	3.05%
Limit on employer contributions per annum	$ 5,200	£ 4,000
Administrative costs of the Plan	3,200	£ 2,400
Expected pension benefit payments
2026	25,229
2027	26,039
2028	26,848
2029	27,658
2030	28,468
2031 - 2035	$ 155,829

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 27, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounts Receivable, Allowance for Credit Loss


					Charged to			Currency			Deductions
		Beginning			Profit and			Translation			from			Ending
Fiscal year ended:		Period Balance			Loss			Adjustment			Reserves			Period Balance
December 27, 2025		$	30,408		$	40,009		$	4,361		$	(19,787)		$	54,991
December 28, 2024			32,897			5,133			(3,190)			(4,432)			30,408
December 30, 2023			20,890			17,657			911			(6,561)			32,897

Schedule of accumulated other comprehensive income (loss)


	December 27,			December 28,
	2025			2024
Foreign currency translation adjustments	$	(248,741)		$	(306,159)
Hedging activities		15,405			21,350
Defined benefit pension plan		(57,179)			(47,966)
Accumulated other comprehensive loss	$	(290,515)		$	(332,775)

Schedule of Disaggregation of Revenue


	Fiscal Year Ended
	December 27, 2025				December 28, 2024				December 30, 2023
	Point in Time		Over Time		Point in Time		Over Time		Point in Time		Over Time
Infrastructure	$	1,612,552	$	1,477,180	$	1,656,355	$	1,342,026	$	1,744,139	$	1,255,498
Agriculture		978,828		35,542		1,043,960		32,693		1,144,633		30,328
Total net sales	$	2,591,380	$	1,512,722	$	2,700,315	$	1,374,719	$	2,888,772	$	1,285,826

Schedule of outstanding finance program obligations


	December 27,			December 28,
	2025			2024
Confirmed obligations outstanding—beginning of period	$	45,602		$	41,916
Invoices confirmed		275,948			216,731
Confirmed invoices paid		(265,226)			(213,045)
Confirmed obligations outstanding—end of period	$	56,324		$	45,602

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Stock Based Compensation
Shares of common stock available for issuance	1,367,546
Compensation expense	$ 24,308	$ 29,869	$ 39,219
Tax benefits associated with compensation expense	3,416	3,412	7,092
Employee Stock Option
Stock Based Compensation
Compensation expense	2,154	$ 2,252	$ 3,687
Unrecognized stock option compensation expense	$ 5,513
Weighted average period over which unrecognized stock option compensation cost would be recognized	2 years 4 months 17 days
Assumptions used in estimating fair value of each option grant
Expected volatility	31.62%	31.65%	31.97%
Risk-free interest rate	3.73%	4.22%	4.21%
Expected life from vesting date	5 years 4 months 24 days	5 years 4 months 24 days	5 years 4 months 24 days
Dividend yield	0.86%	0.88%	0.87%
Number of Shares
Balance at the beginning of the period (in shares)	133,433	181,530	195,690
Granted (in shares)	22,216	25,548	43,340
Exercised (in shares)	(34,215)	(49,583)	(39,055)
Forfeited (in shares)	(2,250)	(24,062)	(18,445)
Balance at the end of the period (in shares)	119,184	133,433	181,530
Options vested or expected to vest (in shares)	117,062	131,198	178,820
Options exercisable (in shares)	68,307	79,824	116,545
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 253.11	$ 220.77	$ 214.62
Granted (in dollars per share)	411.97	331.47	226.55
Exercised (in dollars per share)	227.29	164.38	155.24
Forfeited (in dollars per share)	332.63	268.84	307.81
Balance at the end of the period (in dollars per share)	289.91	253.11	220.77
Options vested or expected to vest (in dollars per share)	288.95	252.57	220.31
Options exercisable (in dollars per share)	$ 250.49	$ 232	$ 203.78
Weighted Average Remaining Contractual Term
Options outstanding	7 years 10 months 20 days	7 years 11 months 4 days	7 years 11 months 26 days
Options vested or expected to vest	7 years 10 months 13 days	7 years 10 months 28 days	7 years 11 months 15 days
Options exercisable	6 years 10 months 28 days	7 years 1 month 6 days	7 years 1 month 17 days
Aggregate Intrinsic Value
Options outstanding	$ 14,575	$ 8,281	$ 5,992
Options vested or expected to vest	14,427	8,200	5,975
Options exercisable	$ 11,046	$ 6,340	$ 5,576
Other option disclosures
Weighted average per share fair value of option granted	$ 130.22	$ 107.27	$ 72.6
Employee Stock Option \| Maximum
Stock Based Compensation
Expiration period of grant	10 years
Employee Stock Option \| Minimum
Stock Based Compensation
Vesting period of options	3 years
Expiration period of grant	7 years
Restricted Stock Units
Stock Based Compensation
Compensation expense	$ 13,195	$ 17,141	$ 22,478

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplier Finance Program (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Confirmed obligations outstanding, beginning of period	$ 45,602	$ 41,916
Invoices confirmed	275,948	216,731
Confirmed invoices paid	(265,226)	(213,045)
Confirmed obligations outstanding, end of period	$ 56,324	$ 45,602

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock	Redeemable noncontrolling interests	Total
Total shareholders' equity - Beginning balance at Dec. 31, 2022	$ 27,900		$ 2,593,039	$ (274,909)	$ (765,183)		$ 1,580,847
Redeemable noncontrolling interests - Beginning balance at Dec. 31, 2022						$ 60,865
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			150,849			(5,937)	150,849
Other comprehensive income (loss), net of tax				1,673		1,152	1,673
Cash dividends declared			(49,898)				(49,898)
Change in redemption value of redeemable noncontrolling interests			(7,374)			7,374	(7,374)
Dividends to redeemable noncontrolling interests						(662)
Repurchases of common stock			(30,000)		(318,121)		(348,121)
Stock option and incentive plans			(13,010)		39,314		26,304
Total shareholders' equity - Ending balance at Dec. 30, 2023	27,900		2,643,606	(273,236)	(1,043,990)		1,354,280
Redeemable noncontrolling interests - Ending balance at Dec. 30, 2023						62,792
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			348,259			2,365	348,259
Other comprehensive income (loss), net of tax				(59,539)		(676)	(59,539)
Cash dividends declared			(48,251)				(48,251)
Purchases of redeemable noncontrolling interests		$ (147)				(17,598)	(147)
Dividends to redeemable noncontrolling interests						(664)
Fair value adjustment on redeemable noncontrolling interests			(5,300)			5,300	(5,300)
Repurchases of common stock		21,074			(91,707)		(70,633)
Stock option and incentive plans		$ (20,927)	2,524		41,828		23,425
Total shareholders' equity - Ending balance at Dec. 28, 2024	27,900		2,940,838	(332,775)	(1,093,869)		1,542,094
Redeemable noncontrolling interests - Ending balance at Dec. 28, 2024						51,519	51,519
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			350,273			3,415	350,273
Other comprehensive income (loss), net of tax				42,260		857	42,260
Cash dividends declared			(53,740)				(53,740)
Purchases of redeemable noncontrolling interests			(43,598)			(67,095)	(43,598)
Change in redemption value of redeemable noncontrolling interests			(15,489)			15,489	(15,489)
Dividends to redeemable noncontrolling interests						(698)
Fair value adjustment on redeemable noncontrolling interests			(6,011)			6,011	(6,011)
Repurchases of common stock					(200,767)		(200,767)
Stock option and incentive plans			(16,038)		33,803		17,765
Total shareholders' equity - Ending balance at Dec. 27, 2025	$ 27,900		$ 3,156,235	$ (290,515)	$ (1,260,833)		1,632,787
Redeemable noncontrolling interests - Ending balance at Dec. 27, 2025						$ 9,498	$ 9,498

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 27, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

REALIGNMENT ACTIVITIES (Tables)

12 Months Ended

Dec. 27, 2025

REALIGNMENT ACTIVITIES

Schedule of Pre-tax expenses related to realignment activities


	Infrastructure		Agriculture		Corporate		Total
Severance and other employee benefit costs	$	3,423	$	2,940	$	4,904	$	11,267
Contract/lease termination		1,324		—		—		1,324
Purchase commitment losses		3,475		—		—		3,475
	$	8,222	$	2,940	$	4,904	$	16,066


	Infrastructure		Agriculture		Corporate		Total
Severance and other employee benefit costs	$	17,260	$	9,101	$	8,849	$	35,210

Schedule of Changes in Liabilities Recorded Related to Realignment Activities


		Balance as of			Recognized			Costs Paid or			Balance as of
		December 28,			Realignment			Otherwise			December 27,
		2024			Expense			Settled			2025
Severance and other employee benefit costs		$	—		$	11,267		$	(6,558)		$	4,709
Contract/lease termination			—			1,324			(936)			388
Purchase commitment losses			—			3,475			—			3,475
		$	—		$	16,066		$	(7,494)		$	8,572

LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024
LEASES
Operating lease cost	$ 33,269	$ 30,154
Cash paid related to operating lease liabilities	32,749	29,603
ROU assets obtained in exchange for lease liabilities	$ 23,577	$ 10,613
Weighted-average remaining lease term	12 years	13 years
Weighted-average discount rate	4.60%	4.60%
Short-term lease costs	$ 4,700
Variable lease costs	$ 7,500

NET EARNINGS PER SHARE - Reconciliation of earnings and share amounts to compute basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 28, 2025	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
NET EARNINGS PER SHARE
Net Income (Loss)		$ 350,273	$ 348,259	$ 150,849
Change in redemption value of redeemable noncontrolling interests	$ (26,243)	(15,489)		(7,374)
Net earnings attributable to Valmont Industries, Inc. including change in redemption value of redeemable noncontrolling interests		334,784	348,259	143,475
Net earnings attributable to Valmont Industries, Inc. including change in redemption value of redeemable noncontrolling interests		$ 334,784	$ 348,259	$ 143,475
Weighted average shares outstanding (in thousands):
Basic (in shares)		19,795,000	20,122,000	20,956,000
Dilutive effect of various stock awards (in shares)		142,000	139,000	203,000
Diluted (in shares)		19,937,000	20,261,000	21,159,000
Net earnings attributable to Valmont Industries, Inc. per share:
Basic (in dollars per share)		$ 16.91	$ 17.31	$ 6.85
Dilutive effect of various stock awards (in dollars per share)		(0.12)	(0.12)	(0.07)
Diluted (in dollars per share)		$ 16.79	$ 17.19	$ 6.78
Outstanding stock options with exercise prices exceeding the market price of common stock, excluded from the computation of diluted earnings per share (in shares)		22,216	44,620	127,774

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
CONSOLIDATED BALANCE SHEETS
Receivables allowance	$ 54,991	$ 30,408
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized shares (in shares)	75,000,000	75,000,000
Common stock, issued shares (in shares)	27,900,000	27,900,000

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 27, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 28, 2025	Dec. 27, 2025	Dec. 28, 2024
FAIR VALUE MEASUREMENTS
Derivative financial instruments, net		$ (6,504)	$ 1,320
Asset retirement obligations		10,254
Carrying Value
FAIR VALUE MEASUREMENTS
Long-term debt		795,663	730,633
Deferred compensation investments		29,631	27,379
Derivative financial instruments, net		(6,504)	1,320
Cash and cash equivalents - mutual funds		3,752	11,063
Estimated fair value \| Level 1
FAIR VALUE MEASUREMENTS
Deferred compensation investments		29,631	27,379
Cash and cash equivalents - mutual funds		3,752	11,063
Estimated fair value \| Level 2
FAIR VALUE MEASUREMENTS
Long-term debt		766,814	692,877
Derivative financial instruments, net		$ (6,504)	$ 1,320
Estimated fair value \| Infrastructure \| Level 3
FAIR VALUE MEASUREMENTS
Impairment charge for certain long-lived assets	$ 19,657
Estimated fair value \| Agriculture \| Level 3
FAIR VALUE MEASUREMENTS
Impairment charge for certain long-lived assets	$ 586

INCOME TAXES

12 Months Ended

Dec. 27, 2025

INCOME TAXES

INCOME TAXES

(9) INCOME TAXES

Earnings (loss) before income taxes and equity method investment loss for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows:


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
United States		$	417,532		$	328,953		$	195,491
Foreign			(39,890)			139,728			40,961
Earnings before income taxes and equity method investment loss		$	377,642		$	468,681		$	236,452

Income tax expense (benefit) for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 consisted of:


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
Current:
Federal		$	208		$	84,110		$	42,226
State			7,853			17,738			8,480
Foreign			36,329			42,150			56,107
Total current income tax expense			44,390			143,998			106,813
Non-current:			(1,330)			(1,365)			1,957
Deferred:
Federal			2,103			(21,498)			(12,585)
State			2,882			(5,261)			(2,586)
Foreign			(24,181)			2,104			(3,478)
Total deferred income tax benefit			(19,196)			(24,655)			(18,649)
Total income tax expense		$	23,864		$	117,978		$	90,121

Total income taxes paid (net of refunds) for the fiscal year ended December 27, 2025 was as follows:


		Fiscal Year Ended
		December 27,
Jurisdiction		2025
U.S. federal		$	26,484
Aggregated state and local			13,397
Foreign:
Australia			11,853
Brazil			6,468
China			4,293
Italy			7,137
Mexico			4,577
Other			10,019
Total foreign			44,347
Total net income taxes paid		$	84,228

The reconciliation of the U.S. federal statutory income tax rate and the effective tax rate for the fiscal year ended December 27, 2025 was as follows:


		Fiscal Year Ended
		December 27, 2025
		Amount		Percent
U.S. federal statutory income tax rate		$	79,305	21.0	%
State and local income taxes, net of federal income tax effect (a)			8,141	2.2
Domestic federal:
Tax credits			(7,236)	(1.9)
Nontaxable or nondeductible items			1,559	0.4
Effect of cross-border tax laws:
Deduction for worthless securities			(66,094)	(17.5)
Other			2,878	0.7
Changes in valuation allowances			(13,119)	(3.5)
Foreign tax effects:
Australia
Goodwill impairment			6,900	1.8
Other			2,480	0.7
Brazil
Foreign jurisdictional tax rate differences			(7,610)	(2.0)
Other			3,750	1.0
Italy
Goodwill impairment			10,054	2.7
Other			(125)	(0.0)
Other foreign jurisdictions			2,944	0.8
Changes in unrecognized tax benefits			(1,330)	(0.4)
Other adjustments			1,367	0.3
Effective tax rate		$	23,864	6.3	%

(a)

State taxes in Alabama, California, Georgia, Illinois, Iowa, Louisiana, Maryland, Pennsylvania, and Texas made up the majority.

The reconciliations of the U.S. federal statutory income tax rate and the effective tax rate for the fiscal years ended December 28, 2024 and December 30, 2023 were as follows:


		Fiscal Year Ended
		December 28,			December 30,
		2024			2023
U.S. federal statutory income tax rate		21.0	%		21.0	%
State income taxes, net of federal benefit		2.2			1.8
Carryforwards, credits and changes in valuation allowances		(1.9)			(2.4)
Foreign jurisdictional tax rate differences		1.5			4.6
Changes in unrecognized tax benefits		(0.3)			0.8
Impairment of goodwill and other intangible assets		—			11.9
Excess tax benefit on equity compensation		0.7			1.1
Loss on divestitures		0.1			—
Other		1.9			(0.7)
Effective tax rate		25.2	%		38.1	%

Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating loss and tax

credit carryforwards. The tax effects of significant items comprising the Company’s net deferred income tax assets (liabilities) as of December 27, 2025 and December 28, 2024 were as follows:


		December 27,			December 28,
		2025			2024
Deferred income tax assets:
Accrued expenses and allowances		$	45,069		$	28,099
Allowance for doubtful accounts			11,237			3,241
Tax credits and loss carryforwards			59,295			56,180
Inventory allowances			16,367			10,538
Accrued compensation and benefits			21,951			25,779
Lease liabilities			37,957			41,628
Research and development expenditures			29,549			41,214
Deferred compensation			13,598			13,351
Gross deferred income tax assets			235,023			220,030
Valuation allowance			(37,239)			(44,920)
Net deferred income tax assets			197,784			175,110
Deferred income tax liabilities:
Property, plant, and equipment			42,842			36,342
Intangible assets			48,559			48,571
Defined benefit pension asset			9,917			11,630
Lease assets			37,956			41,627
Other deferred tax liabilities			6,075			5,375
Total deferred income tax liabilities			145,349			143,545
Net deferred income tax assets		$	52,435		$	31,565

The Company’s management has reviewed recent operating results and projected future results, concluding that the realization of its net deferred tax assets is more likely than not. This assessment is based on, among other factors, recent operational changes and available tax planning strategies. As of December 27, 2025 and December 28, 2024, the amounts related to tax credits and loss carryforwards were $59,295 and $56,180, respectively.

Valuation allowances have been recorded for specific losses, reducing deferred tax assets to an amount that is more likely than not realizable. Deferred tax assets as of December 27, 2025 related to tax loss and tax credit carryforwards not reduced by valuation allowances are set to expire beginning in 2026.

Uncertain tax positions, included in “Other non-current liabilities” in the Consolidated Balance Sheets, are evaluated in a two-step process. First, the Company determines whether it is more likely than not that the tax positions will be sustained based on their technical merits. Second, for positions that meet this threshold, the Company recognizes the largest amount of tax benefit that is more than fifty percent likely to be realized upon settlement with the relevant tax authority.

The following summarizes the activity related to unrecognized tax benefits for the fiscal years ended December 27, 2025 and December 28, 2024:


		Fiscal Year Ended
		December 27,			December 28,
		2025			2024
Gross unrecognized tax benefits—beginning of period		$	2,707		$	4,306
Gross increases (decreases) from tax positions in prior period			(44)			44
Gross increases from current‑period tax positions			1,381			410
Settlements with taxing authorities			—			(1,277)
Lapses of statutes of limitation			(1,517)			(776)
Gross unrecognized tax benefits—end of period		$	2,527		$	2,707

Accrued interest and penalties amounted to $156 and $383 as of December 27, 2025 and December 28, 2024, respectively. The Company’s policy is to record interest and penalties directly related to income taxes as “Income tax expense” in the Consolidated Statements of Earnings.

The Company files income tax returns in the U.S., various states, and foreign jurisdictions. U.S. tax years from 2022 onward remain open under statutes of limitation. The total unrecognized tax benefits that, if recognized, would affect the effective tax rate were $2,643 and $2,993 as of December 27, 2025 and December 28, 2024, respectively.

In the third quarter of fiscal 2025, on July 4, 2025, federal tax legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The legislation includes a broad range of tax reform provisions. The Company recognized the impacts of the 2025 provisions, including those related to the timing of deductions for depreciation and research and experimentation costs. Certain provisions of OBBBA will become effective in 2026 and subsequent years. While the legislation is not expected to have a material impact on the Company’s consolidated results of operations, the Company continues to evaluate the potential effects of OBBBA on future periods.

The Organisation for Economic Co-operation and Development (“OECD”) issued Pillar Two model rules for a global minimum tax framework, effective January 1, 2024. While the U.S. has not enacted legislation to adopt Pillar Two, certain countries in which the Company operates have implemented it, while others are in the process of doing so. Further, on January 5, 2026, the OECD issued administrative guidance regarding the Side-by-Side (“SbS”) Safe Harbor under Pillar Two, which is expected to exempt U.S. companies and their subsidiaries from certain provisions of Pillar Two beginning in fiscal 2026. The SbS Safe Harbor does not impact the Company in the current fiscal year. However, the Company will continue to monitor regulatory developments and the implementation of the SbS Safe Harbor in the jurisdictions in which the Company operates. In fiscal 2025, Pillar Two had no material impact on the Company’s effective tax rate, and the Company does not currently expect it to have a significant impact going forward.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortizing Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Components of amortized intangible assets
Weighted Average Life	3 years
Amortization expense for intangible assets	$ 11,252	$ 14,214	$ 19,455
Estimated Amortization Expense
2026	9,166
2027	9,166
2028	9,166
2029	9,166
2030	9,166
Customer relationships
Components of amortized intangible assets
Gross Carrying Amount	219,631	230,063
Accumulated Amortization	165,514	166,516
Patents and proprietary technology
Components of amortized intangible assets
Gross Carrying Amount	28,166	26,225
Accumulated Amortization	16,374	13,829
Trade names
Components of amortized intangible assets
Gross Carrying Amount		2,870
Accumulated Amortization		2,654
Other
Components of amortized intangible assets
Gross Carrying Amount	614	4,430
Accumulated Amortization	$ 594	$ 4,245

LEASES (Tables)

12 Months Ended

Dec. 27, 2025

LEASES

Schedule of Assets and Liabilities Lessee


	Consolidated Balance	December 27,			December 28,
	Sheets location	2025			2024
Operating lease ROU assets	Operating lease right-of-use assets	$	139,857		$	146,916

Current portion of operating lease liabilities	Other accrued expenses		21,818			22,446
Long-term operating lease liabilities	Operating lease liabilities		130,007			134,534
Total operating lease liabilities		$	151,825		$	156,980

Schedule of Lease Cost


		December 27,		December 28,
		2025		2024
Operating lease cost		$	33,269	$	30,154

Cash paid related to operating lease liabilities		$	32,749	$	29,603
ROU assets obtained in exchange for lease liabilities			23,577		10,613
Weighted-average remaining lease term			12 yrs		13 yrs
Weighted-average discount rate			4.6%		4.6%

Schedule of Future Minimum Lease Payments

Maturities of operating lease liabilities as of December 27, 2025 were as follows:


2026	$	28,148
2027		23,058
2028		19,231
2029		15,879
2030		14,300
Thereafter		103,955
Total lease payments		204,571
Less: Present value adjustment		52,746
Present value of lease liabilities	$	151,825

DEFINED BENEFIT RETIREMENT PLAN (Tables)

12 Months Ended

Dec. 27, 2025

EMPLOYEE RETIREMENT SAVINGS PLAN

Schedule of Changes in PBO and Fair Value of Plan Assets for Pension Plan

Changes in the PBO and fair value of plan assets for the period from December 28, 2024 to December 27, 2025 were as follows:


		Projected
		Benefit			Plan			Funded
		Obligation			Assets			Status
Fair value as of December 28, 2024		$	414,657		$	461,177		$	46,520
Employer contributions			—			3,159
Interest cost			22,243			—
Actual return on plan assets			—			10,661
Benefits paid			(23,955)			(23,955)
Actuarial loss			1,579			—
Currency translation gain			30,298			33,446
Fair value as of December 27, 2025		$	444,822		$	484,488		$	39,666

Changes in the PBO and fair value of plan assets for the period from December 30, 2023 to December 28, 2024 were as follows:


		Projected
		Benefit			Plan			Funded
		Obligation			Assets			Status
Fair value as of December 30, 2023		$	477,763		$	493,167		$	15,404
Employer contributions			—			19,599
Interest cost			21,136			—
Actual return on plan assets			—			(24,723)
Benefits paid			(21,264)			(21,264)
Actuarial gain			(58,156)			—
Currency translation loss			(4,822)			(5,602)
Fair value as of December 28, 2024		$	414,657		$	461,177		$	46,520

Schedule of Pre-Tax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)


Balance as of December 30, 2023	$	(89,151)
Actuarial gain		10,888
Amortization of prior service costs		512
Amortization of net actuarial loss		1,537
Currency translation gain		862
Balance as of December 28, 2024		(75,352)
Actuarial loss		(13,952)
Amortization of prior service costs		526
Amortization of net actuarial loss		1,316
Currency translation loss		(5,809)
Balance as of December 27, 2025	$	(93,271)

Schedule of Weighted-Average Actuarial Assumptions Used to Determine the Benefit Obligation


		December 27,			December 28,
		2025			2024
Discount rate		5.50	%		5.50	%
Consumer Price Index ("CPI") inflation		2.15	%		2.40	%
Retail Price Index ("RPI") inflation		2.85	%		3.20	%

Schedule of components of the net periodic pension cost


	Fiscal Year Ended
	December 27,			December 28,
	2025			2024
Interest cost	$	22,243		$	21,136
Expected return on plan assets		(23,033)			(22,545)
Amortization of prior service costs		526			512
Amortization of net actuarial loss		1,316			1,537
Net periodic pension cost	$	1,052		$	640

Schedule of Weighted-Average Actuarial Assumptions Used to Determine Expense


		December 27,			December 28,
		2025			2024
Discount rate for benefit obligations		5.50	%		4.50	%
Discount rate for interest cost		5.25	%		4.50	%
Expected return on plan assets		5.50	%		5.05	%
CPI inflation		2.40	%		2.25	%
RPI inflation		3.20	%		3.05	%

Schedule of Expected Pension Benefit Payments

The expected pension benefit payments for the fiscal years 2026 through 2035 are as follows:


2026	$	25,229
2027		26,039
2028		26,848
2029		27,658
2030		28,468
2031 – 2035		155,829

Schedule of Pension Plan Assets Measured at Fair Value on a Recurring Basis


	Fair Value Measurement Using:
December 27, 2025	Level 1		Level 2		Level 3		Total
Plan assets at fair value:
Temporary cash investments	$	15,920	$	—	$	—	$	15,920
Bulk annuity insurance policy		—		—		88,371		88,371
Total plan net assets at fair value	$	15,920	$	—	$	88,371		104,291
Plan assets at NAV:
Leveraged inflation-linked gilt funds								342,150
Corporate bonds								38,047
Total plan assets at NAV								380,197
Total plan assets							$	484,488

	Fair Value Measurement Using:
December 28, 2024	Level 1		Level 2		Level 3		Total
Plan assets at fair value:
Temporary cash investments	$	8,927	$	—	$	—	$	8,927
Bulk annuity insurance policy		—		—		82,856		82,856
Total plan net assets at fair value	$	8,927	$	—	$	82,856		91,783
Plan assets at NAV:
Leveraged inflation-linked gilt funds								146,601
Corporate bonds								33,318
Corporate stock								73,426
Secured income asset funds								116,049
Total plan assets at NAV								369,394
Total plan assets							$	461,177

Schedule of changes in the Company's Level 3 plan assets


	December 28, 2024		Net Realized and Unrealized Gains (Losses)		Net Purchases, Issuances, and Settlements		Net Transfers Into (Out of) Level 3		Currency Impact		December 27, 2025
Bulk annuity insurance policy	$	82,856	$	4,607	$	(5,133)	$	—	$	6,041	$	88,371


	December 30, 2023		Net Realized and Unrealized Gains (Losses)		Net Purchases, Issuances, and Settlements		Net Transfers Into (Out of) Level 3		Currency Impact		December 28, 2024
Bulk annuity insurance policy	$	—	$	(3,074)	$	87,445	$	—	$	(1,515)	$	82,856

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings	$ 353,688	$ 350,624	$ 144,912
Foreign currency translation adjustments:
Unrealized translation gain (loss)	58,275	(70,145)	25,261
Hedging activities:
Unrealized gain (loss) on commodity hedges	1,272	(3,321)	(2,227)
Realized loss (gain) on commodity hedges included in net earnings	(199)	2,255	5,288
Unrealized gain (loss) on cross currency swaps	(6,970)	1,475	(2,119)
Amortization cost included in interest expense	(48)	(48)	(52)
Total hedging activities	(5,945)	361	890
Net gain (loss) on defined benefit pension plan	(9,213)	9,569	(23,326)
Total other comprehensive income (loss), net of tax	43,117	(60,215)	2,825
Comprehensive income	396,805	290,409	147,737
Comprehensive loss (income) attributable to redeemable noncontrolling interests	(4,272)	(1,689)	4,785
Comprehensive income attributable to Valmont Industries, Inc.	$ 392,533	$ 288,720	$ 152,522

LONG-TERM DEBT

12 Months Ended

Dec. 27, 2025

LONG-TERM DEBT

LONG-TERM DEBT

(10) LONG-TERM DEBT

Long-term debt as of December 27, 2025 and December 28, 2024 was as follows:


		December 27,			December 28,
		2025			2024
5.00% senior unsecured notes due in fiscal 2044 (a)		$	450,000		$	450,000
5.25% senior unsecured notes due in fiscal 2054 (b)			305,000			305,000
Unamortized discount on 5.00% and 5.25% senior unsecured notes (a) (b)			(18,790)			(19,239)
Revolving credit agreement (c)			65,000			—
Other notes			555			1,246
Debt issuance costs			(6,102)			(6,374)
Long-term debt			795,663			730,633
Less: Current installments of long-term debt			513			692
Long-term debt, excluding current installments		$	795,150		$	729,941

(a)

The 5.00% senior unsecured notes due in fiscal 2044 have an aggregate principal amount of $450,000, with an unamortized discount balance of $11,814 as of December 27, 2025. These notes bear interest at 5.00% per annum and are due on October 1, 2044. The discount will be amortized and recognized as interest expense over the term of the notes as interest payments are made. The notes may be repurchased prior to maturity, in whole or in part, at any time at 100% of their principal amount, plus a make-whole premium and accrued interest. These notes are guaranteed by certain subsidiaries of the Company.

(b)

The 5.25% senior unsecured notes due in fiscal 2054 have an aggregate principal amount of $305,000, with an unamortized discount balance of $6,976 as of December 27, 2025. These notes bear interest at 5.25% per annum and are due on October 1, 2054. The discount will be amortized and recognized as interest expense over the term of the notes as interest payments are made. The notes may be repurchased prior to maturity, in whole or in part, at any time at 100% of their principal amount, plus a make-whole premium and accrued interest. These notes are guaranteed by certain subsidiaries of the Company.

(c)

On July 10, 2025, the Company along with its wholly owned subsidiaries Valmont Industries Holland B.V. and Valmont Group Pty. Ltd., as borrowers, amended and restated the revolving credit agreement with the Company’s lenders. The maturity date of the revolving credit facility was extended to July 10, 2030. This facility provides for $800,000 in committed unsecured revolving credit loans, with available borrowings of up to $400,000 in foreign

currencies. The Company may increase the credit facility by up to an additional $400,000 at any time, subject to lenders agreeing to increase their commitments. The interest rate on the borrowings will be, at the Company’s option:

(i)

the term Secured Overnight Financing Rate (“SOFR”), based on a one-, three-, or six-month period, as selected by the Company, and a spread of 100 to 162.5 basis points, depending on the credit rating of the Company’s senior unsecured long-term debt published by S&P Global Ratings and Moody’s Ratings;

(ii)

the higher of

●

the prime lending rate,

●

the overnight bank rate plus 50 basis points, or

●

term SOFR (based on a one-month period) plus 100 basis points,

plus, in each case, 0 to 62.5 basis points, depending on the credit rating of the Company’s senior unsecured long-term debt published by S&P Global Ratings and Moody’s Ratings; or

(iii)

daily simple SOFR and a spread of 100 to 162.5 basis points, depending on the credit rating of the Company’s senior unsecured long-term debt published by S&P Global Ratings and Moody’s Ratings.

The Company maintains a revolving credit facility for general liquidity purposes including for working capital, capital expenditures, debt service, taxes, and pension contributions. As of December 27, 2025, the Company had outstanding borrowings of $65,000 under its revolving credit facility. As of December 27, 2025, the Company could borrow an additional $734,838 under the facility, after accounting for standby letters of credit totaling $162 related to certain insurance obligations. The Company’s revolving credit facility includes a financial leverage covenant, with which the Company was in compliance as of December 27, 2025.

The minimum aggregate maturities of long-term debt for each of the five fiscal years following the fiscal year ended December 27, 2025 are as follows: $513, $42, $0, $0, and $65,000.

The obligations under the 5.00% senior unsecured notes due in fiscal 2044, the 5.25% senior unsecured notes due in fiscal 2054, and the revolving credit facility are guaranteed by the Company and its wholly owned subsidiaries Valmont Telecommunications, Inc., Valmont Coatings, Inc., Valmont Newmark, Inc., and Valmont Queensland Pty. Ltd.

See Note 14 for further information on the fair value of the Company’s long-term debt.

LEASES

12 Months Ended

Dec. 27, 2025

LEASES

LEASES

(19) LEASES

The Company is a lessee in noncancellable operating leases for plant locations, corporate and sales offices, and certain equipment. The Company does not have any finance leases. At the inception of a contract, or when an existing contract is modified, the Company determines if the arrangement constitutes a lease based on whether it conveys the right to use an identified asset and whether the Company obtains substantially all of the economic benefits from, and has the ability to direct the use of, the asset.

At lease commencement, the Company recognizes a lease liability and a right-of-use (“ROU”) asset, based on the present value of lease payments over the lease term. ROU assets represent the right to use the underlying asset for the lease term, while lease liabilities represent the Company’s obligation to make lease payments. The Company uses its collateralized incremental borrowing rate to calculate the present value of future lease payments. ROU assets are adjusted for any lease payments, incentives, or impairments. Lease costs are recognized on a straight-line basis over the lease term.

The Company's operating lease ROU assets are included in “Operating lease right-of-use assets” and the corresponding lease obligations are included in “Other accrued expenses” and “Operating lease liabilities” in the Consolidated Balance Sheets.

The Company has elected not to separate lease and non-lease components in all asset classes and does not recognize ROU assets and lease liabilities for short-term leases with a term of 12 months or less. As of December 27, 2025, the remaining terms of the Company’s operating leases range from one year to twenty-one years, with certain leases offering renewal options of up to ten years. For facilities where lease terms include renewal options that are reasonably certain to be exercised, the extended term is included in the lease term.

The following table provides supplemental balance sheet information related to operating leases as of December 27, 2025 and December 28, 2024:


	Consolidated Balance	December 27,			December 28,
	Sheets location	2025			2024
Operating lease ROU assets	Operating lease right-of-use assets	$	139,857		$	146,916

Current portion of operating lease liabilities	Other accrued expenses		21,818			22,446
Long-term operating lease liabilities	Operating lease liabilities		130,007			134,534
Total operating lease liabilities		$	151,825		$	156,980

Lease costs and other information related to the Company’s operating leases as of and for the fiscal years ended December 27, 2025 and December 28, 2024 were as follows:


		December 27,		December 28,
		2025		2024
Operating lease cost		$	33,269	$	30,154

Cash paid related to operating lease liabilities		$	32,749	$	29,603
ROU assets obtained in exchange for lease liabilities			23,577		10,613
Weighted-average remaining lease term			12 yrs		13 yrs
Weighted-average discount rate			4.6%		4.6%

Total lease cost also includes approximately $4,700 for short-term lease costs and approximately $7,500 for variable lease costs in fiscal 2025 which are excluded from operating lease cost above.

Maturities of operating lease liabilities as of December 27, 2025 were as follows:


2026	$	28,148
2027		23,058
2028		19,231
2029		15,879
2030		14,300
Thereafter		103,955
Total lease payments		204,571
Less: Present value adjustment		52,746
Present value of lease liabilities	$	151,825

REALIGNMENT ACTIVITIES

12 Months Ended

Dec. 27, 2025

REALIGNMENT ACTIVITIES

REALIGNMENT ACTIVITIES

(4) REALIGNMENT ACTIVITIES

During fiscal 2025, the Company completed a targeted organizational realignment to better align operations and commercial teams, reduce layers of management, and enhance the speed and agility of decision-making across the business. These actions resulted in pre-tax cash charges of $16,066, of which $15,390 was included in “Realignment charges” and $676 was included in “Product cost of sales” in the Consolidated Statements of Earnings.

During the fiscal year ended December 27, 2025, the Company recorded the following pre-tax expenses related to realignment activities:


	Infrastructure		Agriculture		Corporate		Total
Severance and other employee benefit costs	$	3,423	$	2,940	$	4,904	$	11,267
Contract/lease termination		1,324		—		—		1,324
Purchase commitment losses		3,475		—		—		3,475
	$	8,222	$	2,940	$	4,904	$	16,066

Changes in liabilities recorded related to realignment activities were as follows:


		Balance as of			Recognized			Costs Paid or			Balance as of
		December 28,			Realignment			Otherwise			December 27,
		2024			Expense			Settled			2025
Severance and other employee benefit costs		$	—		$	11,267		$	(6,558)		$	4,709
Contract/lease termination			—			1,324			(936)			388
Purchase commitment losses			—			3,475			—			3,475
		$	—		$	16,066		$	(7,494)		$	8,572

In the third quarter of fiscal 2023, management initiated a plan to streamline segment support across the Company and reduce costs through an organizational realignment program (the “Realignment Program”). The Realignment Program included a reduction in force through a voluntary early retirement program and other headcount reduction actions, all of which were completed as of December 30, 2023. The Board of Directors authorized the incurrence of cash charges up to $36,000 in connection with the Realignment Program.

During the fiscal year ended December 30, 2023, the Company recorded the following pre-tax expenses, included in “Realignment charges” in the Consolidated Statements of Earnings, related to the Realignment Program:


	Infrastructure		Agriculture		Corporate		Total
Severance and other employee benefit costs	$	17,260	$	9,101	$	8,849	$	35,210

DERIVATIVE FINANCIAL INSTRUMENTS - Cash flow hedges (Details) - Cash Flow Hedges - Commodity contracts - Long $ in Thousands	12 Months Ended
	Dec. 27, 2025 USD ($) MMBTU T gal
Hot-rolled coil steel
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 6,226
Derivative, nonmonetary notional amount, mass \| T	7,250
Natural gas
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 809
Derivative, nonmonetary notional amount, energy measure \| MMBTU	210,000
Ultra-low-sulfur diesel fuel
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 8,289
Derivative, nonmonetary notional amount, volume measure \| gal	4,032,000
Zinc
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 8,808
Derivative, nonmonetary notional amount, mass \| T	2,880

EMPLOYEE RETIREMENT SAVINGS PLAN

12 Months Ended

Dec. 27, 2025

EMPLOYEE RETIREMENT SAVINGS PLAN

EMPLOYEE RETIREMENT SAVINGS PLAN

(13) EMPLOYEE RETIREMENT SAVINGS PLAN

Established under Internal Revenue Code Section 401(k), the Valmont Employee Retirement Savings Plan (“VERSP”) is a defined contribution plan available to all eligible employees. Participants may elect to contribute up to 75% of their annual eligible compensation on either a pre-tax or after-tax basis, subject to certain Internal Revenue Code limitations.

The Company also sponsors a fully funded, non-qualified deferred compensation plan for certain executives who would otherwise be limited in receiving contributions into the VERSP under Internal Revenue Service regulations. As of December 27, 2025 and December 28, 2024, the invested assets and related liabilities for these participants were $29,631 and $27,379, respectively. These amounts are included in “Deferred compensation investments” and “Deferred compensation liabilities” in the Consolidated Balance Sheets. Distributions from the Company’s non-qualified deferred compensation plan

to participants, made under the transition rules of Section 409A of the Internal Revenue Code, totaled $4,213 and $5,467 for the fiscal years ended December 27, 2025 and December 28, 2024, respectively. All distributions were made in cash.

The Company contributes to both the VERSP and the non-qualified deferred compensation plan for certain executives. The Company’s contributions to these plans for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, were approximately $20,600, $19,100, and $20,000, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Treasury Stock (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Equity, Class of Treasury Stock [Line Items]
Shares acquired under share repurchase program	607,583	339,973	1,282,706
Amount paid for share repurchase	$ 1,533,045
Treasury stock
Equity, Class of Treasury Stock [Line Items]
Shares acquired under share repurchase program	8,843,280

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 27, 2025

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

(7) GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

As of December 27, 2025 and December 28, 2024, the carrying amounts of goodwill by segment were as follows:


	Infrastructure		Agriculture		Total
Gross balance as of December 28, 2024	$	470,988	$	322,241	$	793,229
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of December 28, 2024		421,606		202,241		623,847
Impairment		(64,869)		—		(64,869)
Foreign currency translation		10,850		1,126		11,976
Balance as of December 27, 2025	$	367,587	$	203,367	$	570,954

	Infrastructure		Agriculture		Total
Gross balance as of December 30, 2023	$	478,663	$	323,683	$	802,346
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of December 30, 2023		429,281		203,683		632,964
Acquisition measurement period adjustment		—		331		331
Divestiture		(1,509)		—		(1,509)
Foreign currency translation		(6,166)		(1,773)		(7,939)
Balance as of December 28, 2024	$	421,606	$	202,241	$	623,847

In the second quarter of fiscal 2025, the Company identified triggering events that required interim goodwill impairment testing for certain reporting units within the Infrastructure segment. Due to the Company’s strategic exit from the North American solar tracker market, increased competitive pressures in Brazil, and uncertainty surrounding European policies, an interim goodwill impairment test was conducted for the Solar reporting unit. The fair value of the reporting unit was estimated using a discounted cash flow analysis, which required the Company to estimate the future cash flows as well as select a risk-adjusted discount rate to measure the present value of the anticipated cash flows. The carrying amount of this reporting unit exceeded its estimated fair value, resulting in a goodwill impairment charge of $41,869 within the Infrastructure segment. Additionally, due to a reduction in forecasted sales primarily resulting from general market weakness in Australia, an interim goodwill impairment test was also performed for the Access Systems reporting unit. Using a discounted cash flow analysis, the Company determined that the carrying amount exceeded its estimated fair value, resulting in a goodwill impairment charge of $23,000 within the Infrastructure segment.

In the third quarters of fiscal 2025 and fiscal 2024, the Company performed its annual goodwill impairment assessment utilizing a quantitative test on all of its reporting units, with measurement dates of August 30, 2025 and September 1, 2024, respectively. Based on discounted cash flow analyses, the estimated fair value of all reporting units exceeded their respective carrying values in both periods and no impairments were recorded.

In the third quarter of fiscal 2023, the Company recognized impairment charges of $120,000 and $1,915 in the Agriculture and Infrastructure segments, respectively, using a discounted cash flow analysis, resulting from the Company’s annual goodwill impairment assessment as of September 2, 2023.

Other Intangible Assets

As of December 27, 2025 and December 28, 2024, the components of other intangible assets were as follows:


	December 27, 2025				December 28, 2024
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortizing intangible assets:
Customer relationships	$	219,631	$	165,514	$	230,063	$	166,516
Patents and proprietary technology		28,166		16,374		26,225		13,829
Trade names		—		—		2,870		2,654
Other		614		594		4,430		4,245
Non-amortizing intangible assets:
Trade names		55,412		—		57,738		—
	$	303,823	$	182,482	$	321,326	$	187,244

The weighted-average life of amortizing intangible assets is approximately three years. Amortization expense for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 was $11,252, $14,214, and $19,455, respectively. Amortization expense is expected to average $9,166 annually over the next five fiscal years, based on amortizing intangible assets reported as of December 27, 2025.

In the second quarter of fiscal 2025, based on identified triggering events discussed above, the Company performed an impairment test on indefinite-lived trade names associated with the Solar and Access Systems reporting units. Using the relief-from-royalty method, the Company determined that the carrying amounts of the trade names exceeded their estimated

fair values. As a result, impairment charges of $4,830 were recognized within the Infrastructure segment. Additionally, in the second quarter of fiscal 2025, an impairment charge of $1,395 was recognized within the Agriculture segment for a customer relationship intangible asset that was determined not to be recoverable.

In the third quarter of fiscal 2025 and fiscal 2024, the Company tested its indefinite-lived trade names for impairment as part of its annual impairment assessment, with measurement dates of August 30, 2025 and September 1, 2024, respectively. The values of each trade name were determined using the relief-from-royalty method, and no trade names were determined to be impaired in either period.

In the third quarter of fiscal 2023, using the relief-from-royalty method, the Company recognized an impairment charge of $1,656 in the Infrastructure segment as a result of the Company’s annual indefinite-lived trade name impairment assessment as of September 2, 2023. Additionally, in the third quarter of fiscal 2023, the Company recognized an impairment charge of $17,273 in the Agriculture segment for a certain amortizing proprietary technology intangible asset related to the Prospera subsidiary.

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 28, 2025	Sep. 30, 2023
Agriculture \| Proprietary technology intangible asset related to Prospera \| Prospera
Indefinite-lived Intangible Assets
Impairment charge for certain long-lived assets		$ 17,273
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]		Asset Impairment Charges
Agriculture \| Customer relationships
Indefinite-lived Intangible Assets
Impairment charge for certain long-lived assets	$ 1,395
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset Impairment Charges
Infrastructure \| Trade names
Indefinite-lived Intangible Assets
Impairment of intangible assets	$ 4,830
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset Impairment Charges
Infrastructure \| Trade names
Indefinite-lived Intangible Assets
Impairment of intangible assets		$ 1,656
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]		Asset Impairment Charges

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details)	Dec. 27, 2025
Indefinite-Lived Intangible Assets [Line Items]
Intangible assets lives	3 years
Minimum
Indefinite-Lived Intangible Assets [Line Items]
Intangible assets lives	2 years
Maximum
Indefinite-Lived Intangible Assets [Line Items]
Intangible assets lives	20 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

BANK CREDIT ARRANGEMENTS

12 Months Ended

Dec. 27, 2025

BANK CREDIT ARRANGEMENTS

BANK CREDIT ARRANGEMENTS

(8) BANK CREDIT ARRANGEMENTS

The Company maintains various lines of credit with financial institutions for short-term borrowing purposes. As of December 27, 2025, the aggregate amount available under these lines of credit was $10,071. Outstanding borrowings under these arrangements were $0 and $1,669 as of December 27, 2025 and December 28, 2024, respectively, and are recorded as “Notes payable to banks” in the Consolidated Balance Sheets.

Borrowings under the lines of credit bear interest at variable rates based on the respective banks’ cost of funds. The terms of the lines of credit may be modified by the banks from time to time, subject to the Company’s approval.

WARRANTIES (Details) - USD ($) $ in Thousands	12 Months Ended
WARRANTIES (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Changes in the product warranty accrual recorded in accrued expenses
Balance, beginning of period	$ 23,751	$ 22,434
Payments made	(21,886)	(20,790)
Change in liability for warranties issued during the period	24,167	23,496
Change in liability for pre-existing warranties	551	(692)
Currency translation	731	(697)
Balance, end of period	27,314	23,751	$ 22,434
Product cost of sales	$ 24,718	$ 22,804	$ 19,495

NET EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 27, 2025

NET EARNINGS PER SHARE

Schedule of reconciliation of compute both basic and diluted earnings (loss) per share


	Fiscal Year Ended
	December 27,			December 28,			December 30,
	2025			2024			2023
Net earnings attributable to Valmont Industries, Inc.
Net earnings attributable to Valmont Industries, Inc.	$	350,273		$	348,259		$	150,849
Change in redemption value of redeemable noncontrolling interests		(15,489)			—			(7,374)
Net earnings attributable to Valmont Industries, Inc. including change in redemption value of redeemable noncontrolling interests	$	334,784		$	348,259		$	143,475
Weighted average shares outstanding (in thousands):
Basic		19,795			20,122			20,956
Dilutive effect of various stock awards		142			139			203
Diluted		19,937			20,261			21,159
Net earnings attributable to Valmont Industries, Inc. per share:
Basic	$	16.91		$	17.31		$	6.85
Dilutive effect of various stock awards		(0.12)			(0.12)			(0.07)
Diluted	$	16.79		$	17.19		$	6.78

INCOME TAXES - Total Income Taxes Paid (Net of Refunds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Income Taxes
U.S. federal	$ 26,484
Aggregated state and local	13,397
Foreign	44,347
Income Taxes Paid, Net, Total	84,228	$ 125,548	$ 103,697
Australia
Income Taxes
Foreign	11,853
Brazil
Income Taxes
Foreign	6,468
China
Income Taxes
Foreign	4,293
Italy
Income Taxes
Foreign	7,137
Mexico
Income Taxes
Foreign	4,577
Other
Income Taxes
Foreign	$ 10,019

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 27, 2025

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

(11) STOCK-BASED COMPENSATION

The Company administers stock‑based compensation plans that have been approved by its shareholders. Under these plans, the Human Resources Committee of the Board of Directors is authorized to grant various types of awards, including incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance stock units, and common stock bonuses. As of December 27, 2025, 1,367,546 shares of common stock remained available for issuance under the plans. The shares and options issued and available are subject to changes in capitalization. The Company’s policy is to issue shares upon the exercise of stock options, the vesting of restricted stock units, or the issuance of restricted stock from treasury shares held by the Company.

For the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, the Company recorded stock-based compensation expenses of $24,308, $29,869, and $39,219, respectively, included in “Selling, general, and administrative expenses” in the Consolidated Statements of Earnings. The associated tax benefits recorded for these periods were $3,416, $3,412, and $7,092, respectively.

Stock Options

Stock options granted under the plans have an exercise price equal to the closing market price on the date of the grant. Options vest beginning on the first anniversary of the grant date, either in equal amounts over three years or fully on the grant’s fifth anniversary. The expiration of grants ranges from seven to ten years from the date of the award.

As of December 27, 2025, approximately $5,513 of unrecognized stock option compensation expense will be recognized over a weighted-average period of 2.38 years. During the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, compensation expense for stock options was $2,154, $2,252, and $3,687, respectively.

The Company uses a binomial option pricing model to value its stock options. The fair value of each option grant made as of December 27, 2025, December 28, 2024, and December 30, 2023 was estimated using the following assumptions:


		December 27,		December 28,		December 30,
		2025		2024		2023
Expected volatility		31.62	%	31.65	%	31.97	%
Risk-free interest rate		3.73	%	4.22	%	4.21	%
Expected life from vesting date		5.4 yrs		5.4 yrs		5.4 yrs
Dividend yield		0.86	%	0.88	%	0.87	%

The following is a summary of the stock option activity for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023:


							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
		Number of		Exercise			Contractual		Intrinsic
		Shares		Price			Term		Value
Outstanding as of December 28, 2024		133,433		$	253.11
Granted		22,216			411.97
Exercised		(34,215)			227.29
Forfeited		(2,250)			332.63
Outstanding as of December 27, 2025		119,184		$	289.91		7.89		$	14,575
Options vested or expected to vest as of December 27, 2025		117,062		$	288.95		7.87			14,427
Options exercisable as of December 27, 2025		68,307		$	250.49		6.91			11,046

The weighted average per share fair value of options granted during the fiscal year ended December 27, 2025 was $130.22.


							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
		Number of		Exercise			Contractual		Intrinsic
		Shares		Price			Term		Value
Outstanding as of December 30, 2023		181,530		$	220.77
Granted		25,548			331.47
Exercised		(49,583)			164.38
Forfeited		(24,062)			268.84
Outstanding as of December 28, 2024		133,433		$	253.11		7.93		$	8,281
Options vested or expected to vest as of December 28, 2024		131,198		$	252.57		7.91			8,200
Options exercisable as of December 28, 2024		79,824		$	232.00		7.10			6,340

The weighted average per share fair value of options granted during the fiscal year ended December 28, 2024 was $107.27.


							Weighted
				Weighted			Average
				Average			Remaining		Aggregate
		Number of		Exercise			Contractual		Intrinsic
		Shares		Price			Term		Value
Outstanding as of December 31, 2022		195,690		$	214.62
Granted		43,340			226.55
Exercised		(39,055)			155.24
Forfeited		(18,445)			307.81
Outstanding as of December 30, 2023		181,530		$	220.77		7.99		$	5,992
Options vested or expected to vest as of December 30, 2023		178,820		$	220.31		7.96			5,975
Options exercisable as of December 30, 2023		116,545		$	203.78		7.13			5,576

The weighted average per share fair value of options granted during the fiscal year ended December 30, 2023 was $72.60.

Restricted Stock Units

Restricted stock units are settled in Company stock when the restriction period ends. Restricted stock units and awards generally vest in equal installments over three years, beginning on the first anniversary of the grant. During the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, the Company granted restricted stock units to directors and certain management employees as follows:


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
Restricted stock units granted			43,255			52,175			67,723
Weighted‑average per share price on grant date		$	394.23		$	295.84		$	233.96
Total intrinsic value as of December 27, 2025		$	44,095		$	42,381		$	35,538

The Company recognizes compensation expense for restricted stock units on a straight-line basis over the requisite service period, accounting for forfeitures as they occur. The compensation expense for the Company’s restricted stock units totaled $13,195, $17,141, and $22,478 for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively.

As of December 27, 2025, the amount of unrecognized stock‑based compensation granted, to be recognized over a weighted‑average period of 1.69 years, was approximately $28,005.

Performance Stock Units (“PSUs”)

PSUs consist of shares of the Company’s stock, payable upon the determination that the Company has achieved certain established performance targets. PSUs can range from 0% to 200% of the targeted payout based on actual results over a performance period of three years. The fair value of each PSU granted is equal to the fair market value of the Company’s common stock on the date of grant. PSUs generally have a three-year cliff-vesting schedule; however, according to the grant agreements, if certain conditions are met, the employee (or beneficiary) will receive a prorated amount based on active employment during the service period.

During the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, the Company granted PSU awards as follows:


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
Shares granted			28,238			34,665			38,201
Weighted‑average per share price on grant date		$	305.16		$	234.52		$	299.20
Total intrinsic value as of December 27, 2025		$	27,347		$	21,577		$	24,605

The compensation expense for the Company’s PSUs totaled $8,959, $10,476, and $13,054 for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively.

WARRANTIES

12 Months Ended

Dec. 27, 2025

WARRANTIES

WARRANTIES

(16) WARRANTIES

The Company’s product warranty accrual represents management’s best estimate of the probable liabilities associated with its product warranties. The Company maintains specific reserves for identified product issues and general reserves based on historical claims experience for the remainder of the population. Specific reserves are established when a discrete warranty matter is identified that is expected to result in incremental costs beyond the historical experience rate.

Historical claims data is used to estimate general warranty costs at the time revenue is recognized, while specific reserves are measured based on the expected cost of remediation for the identified issue.

Changes in the product warranty accrual, recorded in “Other accrued expenses” in the Consolidated Balance Sheets, for the fiscal years ended December 27, 2025 and December 28, 2024 were as follows:


	Fiscal Year Ended
	December 27,			December 28,
	2025			2024
Balance—beginning of period	$	23,751		$	22,434
Payments made		(21,886)			(20,790)
Change in liability for warranties issued during the period		24,167			23,496
Change in liability for pre-existing warranties		551			(692)
Currency translation		731			(697)
Balance—end of period	$	27,314		$	23,751

Warranty costs, recorded in “Product cost of sales” in the Consolidated Statements of Earnings, were $24,718, $22,804, and $19,495 for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively.

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/460/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

+ Details

DEFINED BENEFIT RETIREMENT PLAN

12 Months Ended

Dec. 27, 2025

EMPLOYEE RETIREMENT SAVINGS PLAN

DEFINED BENEFIT RETIREMENT PLAN

(18) DEFINED BENEFIT RETIREMENT PLAN

Delta Ltd., a wholly owned subsidiary of the Company, sponsors the Delta Pension Plan (the “Plan”), which provides defined benefit retirement income to eligible employees in the United Kingdom (“U.K.”). Qualified employees are entitled to pension retirement benefits amounting to 1.67% of final salary for each year of service upon reaching the age of 65. There have been no active employees participating in the Plan for over five years.

Funded Status

The Company recognizes the pension plan’s funded status as either an asset or liability. This status reflects the difference between the projected benefit obligation (“PBO”) and the fair value of the plan’s assets. The PBO represents the present value of benefits earned by participants to date, factoring in assumed inflation. Plan assets are measured at fair value, and because the Plan is denominated in British pounds, the Company translates the net pension asset into U.S. dollars using exchange rates of $1.349/£ and $1.257/£ as of December 27, 2025 and December 28, 2024, respectively. As of December 27, 2025, the net funded status was $39,666 recorded as “Defined benefit pension asset” on the Consolidated Balance Sheets.

The accumulated benefit obligation (“ABO”), representing the present value of benefits earned to date without assuming future compensation growth, is equal to the PBO due to the absence of active employees in the plan. The overfunded ABO represents the difference between the PBO and the fair value of the plan assets.

Changes in the PBO and fair value of plan assets for the period from December 28, 2024 to December 27, 2025 were as follows:


		Projected
		Benefit			Plan			Funded
		Obligation			Assets			Status
Fair value as of December 28, 2024		$	414,657		$	461,177		$	46,520
Employer contributions			—			3,159
Interest cost			22,243			—
Actual return on plan assets			—			10,661
Benefits paid			(23,955)			(23,955)
Actuarial loss			1,579			—
Currency translation gain			30,298			33,446
Fair value as of December 27, 2025		$	444,822		$	484,488		$	39,666

Changes in the PBO and fair value of plan assets for the period from December 30, 2023 to December 28, 2024 were as follows:


		Projected
		Benefit			Plan			Funded
		Obligation			Assets			Status
Fair value as of December 30, 2023		$	477,763		$	493,167		$	15,404
Employer contributions			—			19,599
Interest cost			21,136			—
Actual return on plan assets			—			(24,723)
Benefits paid			(21,264)			(21,264)
Actuarial gain			(58,156)			—
Currency translation loss			(4,822)			(5,602)
Fair value as of December 28, 2024		$	414,657		$	461,177		$	46,520

The actuarial gain decreased the PBO and resulted primarily from an increase in the discount rate from 4.50% in fiscal 2023 to 5.50% in fiscal 2024.

The pre-tax amounts recognized in AOCI as of December 27, 2025 and December 28, 2024 included actuarial gains (losses), as follows:


Balance as of December 30, 2023	$	(89,151)
Actuarial gain		10,888
Amortization of prior service costs		512
Amortization of net actuarial loss		1,537
Currency translation gain		862
Balance as of December 28, 2024		(75,352)
Actuarial loss		(13,952)
Amortization of prior service costs		526
Amortization of net actuarial loss		1,316
Currency translation loss		(5,809)
Balance as of December 27, 2025	$	(93,271)

The weighted-average actuarial assumptions used to determine the benefit obligation as of December 27, 2025 and December 28, 2024 were as follows:


		December 27,			December 28,
		2025			2024
Discount rate		5.50	%		5.50	%
Consumer Price Index ("CPI") inflation		2.15	%		2.40	%
Retail Price Index ("RPI") inflation		2.85	%		3.20	%

Cost (Benefit)

The pension cost (benefit) is determined based on the annual service cost (the actuarial cost of benefits earned during the period) and the interest cost on those liabilities, adjusted for the expected return on plan assets. The interest cost is calculated using the full yield curve approach, applying specific spot rates along the yield curve to estimate the present value of the pension obligations relevant to cash outflows for the corresponding year. The expected long-term rate of return on plan assets is applied to the fair value of plan assets for the corresponding year. Differences between actual experience and assumptions are not recognized in net earnings immediately; instead, they are deferred and, if necessary, amortized as pension costs.

The components of the net periodic pension cost for the fiscal years ended December 27, 2025 and December 28, 2024 were as follows:


	Fiscal Year Ended
	December 27,			December 28,
	2025			2024
Interest cost	$	22,243		$	21,136
Expected return on plan assets		(23,033)			(22,545)
Amortization of prior service costs		526			512
Amortization of net actuarial loss		1,316			1,537
Net periodic pension cost	$	1,052		$	640

For the fiscal years ended December 27, 2025 and December 28, 2024, the weighted-average actuarial assumptions used to determine the net periodic pension cost were:


		December 27,			December 28,
		2025			2024
Discount rate for benefit obligations		5.50	%		4.50	%
Discount rate for interest cost		5.25	%		4.50	%
Expected return on plan assets		5.50	%		5.05	%
CPI inflation		2.40	%		2.25	%
RPI inflation		3.20	%		3.05	%

The discount rate is based on the yields of AA-rated corporate bonds with maturities similar to the pension liabilities. The expected return on plan assets considers the asset allocation mix and historical returns, factoring in current and anticipated market conditions. Inflation estimates are based on expected changes in the U.K.’s CPI or RPI, depending on the relevant plan provisions.

Cash Contributions

In fiscal 2025, the Company completed negotiations with Plan trustees regarding annual funding. The annual contributions to the Plan are approximately £4,000 ($5,200) as part of the Plan’s recovery plan, depending on the Plan’s funding levels, plus approximately £2,400 ($3,200) annually for administrative costs. In fiscal 2025, given the Plan’s funded status, the Company was only required to make cash contributions for administrative costs.

Benefit Payments

The expected pension benefit payments for the fiscal years 2026 through 2035 are as follows:


2026	$	25,229
2027		26,039
2028		26,848
2029		27,658
2030		28,468
2031 – 2035		155,829

Asset Allocation Strategy

The investment strategy for the pension plan assets is designed to balance long-term return objectives with management of interest rate and inflation risk, taking into account the Plan’s funding position, liquidity needs, and long-term objectives. The strategy includes:

●

Growth-oriented investments, with higher overall returns targeted through allocations to growth assets, including global equities, as part of the Plan’s long-term investment strategy; and

●

Liability-matching and risk-management investments, including liability-driven investment strategies, insurance buy-in contracts, U.K. gilts, and cash, intended to hedge interest rate and inflation risks and support the payment of benefits as they become due.

As required by U.K. law, the Plan has an independent trustee responsible for setting and overseeing the investment policy, in consultation with the Plan sponsor and independent advisors. Actual asset allocations may vary over time based on market conditions, funding levels, liquidity considerations, and progress toward the Plan’s long-term objectives.

The pension plan investments are held in a trust, and as of December 27, 2025, the weighted-average maturity of the corporate bond portfolio was 12 years.

On March 26, 2024, the Trustees of the Plan entered into an agreement with a large U.K. insurance company to purchase a bulk annuity insurance policy (“arrangement”) as an investment asset. Such arrangement is commonly referred to as a “pension buy-in” and provides the Plan with a monthly contractual payment stream to satisfy pension obligations payable to approximately 15% of total plan participants. The arrangement does not relieve the Plan or the Company (as plan sponsor) of the primary responsibility for the pension obligations. The Plan purchased the arrangement for £70,865 ($90,800) and recorded it at fair value.

Fair Value Measurements

The pension plan assets are valued at fair value. Below is a description of the valuation methodologies used for investments measured at fair value, categorized according to the valuation hierarchy:

●

Temporary Cash Investments: Comprising British pounds, these investments are reported in U.S. dollars based on readily available currency exchange rates and are classified as Level 1 investments.

●

Bulk Annuity Insurance Policy: The initial value of the bulk annuity insurance policy was equal to the premium paid to secure it. This value is adjusted each reporting period based on changes in interest rates, discount rates, and benefits paid. Since the valuation of this asset involves significant judgment and lacks observable market inputs, the buy-in contract is classified as Level 3 in the fair value hierarchy.

●

Leveraged Inflation-Linked Gilt Funds: These investments combine U.K. government-backed securities, money market instruments, and derivatives to provide leveraged exposure to changes in long-term interest and inflation rates. Their fair value is calculated using net asset value (“NAV”).

●

Corporate Bonds: Fixed-income securities issued by U.K. corporations, valued at NAV.

●

Corporate Stock: Common and preferred stocks, including mutual funds, from both U.K. and non-U.K. corporations, valued at NAV.

●

Secured Income Asset Funds: Investments with a high expected inflation linkage, relying on asset valuations developed by fund managers using market multiples, market transactions of comparable companies, and other methods. The fair value is calculated using NAV.

As of December 27, 2025 and December 28, 2024, the pension plan assets measured at fair value on a recurring basis were as follows:


	Fair Value Measurement Using:
December 27, 2025	Level 1		Level 2		Level 3		Total
Plan assets at fair value:
Temporary cash investments	$	15,920	$	—	$	—	$	15,920
Bulk annuity insurance policy		—		—		88,371		88,371
Total plan net assets at fair value	$	15,920	$	—	$	88,371		104,291
Plan assets at NAV:
Leveraged inflation-linked gilt funds								342,150
Corporate bonds								38,047
Total plan assets at NAV								380,197
Total plan assets							$	484,488

	Fair Value Measurement Using:
December 28, 2024	Level 1		Level 2		Level 3		Total
Plan assets at fair value:
Temporary cash investments	$	8,927	$	—	$	—	$	8,927
Bulk annuity insurance policy		—		—		82,856		82,856
Total plan net assets at fair value	$	8,927	$	—	$	82,856		91,783
Plan assets at NAV:
Leveraged inflation-linked gilt funds								146,601
Corporate bonds								33,318
Corporate stock								73,426
Secured income asset funds								116,049
Total plan assets at NAV								369,394
Total plan assets							$	461,177

Changes in the Company’s Level 3 plan assets in fiscal 2025, which were recorded in other comprehensive income (loss), included:


	December 28, 2024		Net Realized and Unrealized Gains (Losses)		Net Purchases, Issuances, and Settlements		Net Transfers Into (Out of) Level 3		Currency Impact		December 27, 2025
Bulk annuity insurance policy	$	82,856	$	4,607	$	(5,133)	$	—	$	6,041	$	88,371

Changes in the Company’s Level 3 plan assets in fiscal 2024, which were recorded in other comprehensive income (loss), included:


	December 30, 2023		Net Realized and Unrealized Gains (Losses)		Net Purchases, Issuances, and Settlements		Net Transfers Into (Out of) Level 3		Currency Impact		December 28, 2024
Bulk annuity insurance policy	$	—	$	(3,074)	$	87,445	$	—	$	(1,515)	$	82,856

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/715/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (d)(iii)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Cash overdrafts
Cash book overdrafts	$ 19,400	$ 23,492
Accounts receivable
Expected credit losses	$ 40,009	5,133	$ 17,657
Accounts receivable sold		$ 20,000
Fiscal Year
Length of fiscal year 2023 and 2021	364 days	364 days
Length of fiscal year 2022				371 days
Research and Development
Research and development expense	$ 33,000	$ 59,000	$ 55,000
Supplier Finance Program
Supplier finance program payment terms	75 days

PROPERTY, PLANT, AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Long-lived assets
Total property, plant, and equipment, at cost	$ 1,640,608	$ 1,502,017
Less accumulated depreciation	(966,745)	(913,045)
Property, plant, and equipment, net	673,863	588,972
Depreciation expense	77,257	81,181	$ 78,138
Land and improvements
Long-lived assets
Total property, plant, and equipment, at cost	135,997	118,199
Buildings and improvements
Long-lived assets
Total property, plant, and equipment, at cost	430,563	405,710
Machinery and equipment
Long-lived assets
Total property, plant, and equipment, at cost	804,232	738,329
Transportation equipment
Long-lived assets
Total property, plant, and equipment, at cost	31,749	29,825
Office furniture and equipment
Long-lived assets
Total property, plant, and equipment, at cost	133,338	135,344
Construction in progress
Long-lived assets
Total property, plant, and equipment, at cost	$ 104,729	$ 74,610

REALIGNMENT ACTIVITIES - Changes in Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 27, 2025 USD ($)
Realignment activities
Restructuring Cost and Reserve [Roll Forward]
Recognized Realignment Expense	$ 16,066
Costs Paid or Otherwise Settled	(7,494)
Restructuring charges, ending balance	8,572
Severance and other employee benefit costs
Restructuring Cost and Reserve [Roll Forward]
Recognized Realignment Expense	11,267
Costs Paid or Otherwise Settled	(6,558)
Restructuring charges, ending balance	4,709
Contract/lease termination
Restructuring Cost and Reserve [Roll Forward]
Recognized Realignment Expense	1,324
Costs Paid or Otherwise Settled	(936)
Restructuring charges, ending balance	388
Purchase commitment losses
Restructuring Cost and Reserve [Roll Forward]
Recognized Realignment Expense	3,475
Restructuring charges, ending balance	$ 3,475

GOODWILL AND OTHER INTANGIBLE ASSETS - Total Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Amortizing and non-amortizing intangible assets, Gross Carrying Amount	$ 303,823	$ 321,326
Intangible Assets, Accumulated Amortization	$ 182,482	$ 187,244

ACQUISITIONS (Details) $ in Thousands, $ in Thousands, $ in Thousands					12 Months Ended
	Jan. 12, 2026 USD ($) installment	Jan. 12, 2026 CAD ($) installment	Aug. 31, 2023 AUD ($) payment	Aug. 31, 2023 USD ($)	Dec. 30, 2023 USD ($)	Jan. 12, 2026 CAD ($)	Dec. 27, 2025 USD ($)	Dec. 28, 2024 USD ($)	Aug. 31, 2023 USD ($) payment
Business Acquisition [Line Items]
Acquisitions, net of cash acquired					$ 32,676
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Goodwill					$ 632,964		$ 570,954	$ 623,847
Operating lease liabilities							$ 151,825	$ 156,980
HR Products
Business Acquisition [Line Items]
Acquisitions, net of cash acquired			$ 58,044	$ 37,302
Retention fund, withheld			$ 7,200						$ 4,626
Number of equal payments of retention fund \| payment			2						2
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Current assets									$ 24,153
Property, plant, and equipment									1,397
Goodwill									9,508
Other non-current assets									3,997
Total fair value of assets acquired									50,558
Current liabilities									4,183
Deferred income taxes									3,046
Operating lease liabilities									2,792
Total fair value of liabilities assumed									10,021
Net assets acquired									40,537
RMDC Innovation, Inc. \| Subsequent events
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Percentage acquired	80.00%					80.00%
Consideration transferred	$ 15,150	$ 20,745
Contingent consideration liability	$ 3,000					$ 4,108
Number of installments \| installment	2	2
Customer relationships
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Useful life			13 years	13 years
Customer relationships \| HR Products
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Customer relationships									$ 11,503

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 27, 2025

GOODWILL AND OTHER INTANGIBLE ASSETS

Schedule of carrying amount of goodwill

As of December 27, 2025 and December 28, 2024, the carrying amounts of goodwill by segment were as follows:


	Infrastructure		Agriculture		Total
Gross balance as of December 28, 2024	$	470,988	$	322,241	$	793,229
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of December 28, 2024		421,606		202,241		623,847
Impairment		(64,869)		—		(64,869)
Foreign currency translation		10,850		1,126		11,976
Balance as of December 27, 2025	$	367,587	$	203,367	$	570,954

	Infrastructure		Agriculture		Total
Gross balance as of December 30, 2023	$	478,663	$	323,683	$	802,346
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of December 30, 2023		429,281		203,683		632,964
Acquisition measurement period adjustment		—		331		331
Divestiture		(1,509)		—		(1,509)
Foreign currency translation		(6,166)		(1,773)		(7,939)
Balance as of December 28, 2024	$	421,606	$	202,241	$	623,847

Schedule of components of intangible assets


	December 27, 2025				December 28, 2024
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortizing intangible assets:
Customer relationships	$	219,631	$	165,514	$	230,063	$	166,516
Patents and proprietary technology		28,166		16,374		26,225		13,829
Trade names		—		—		2,870		2,654
Other		614		594		4,430		4,245
Non-amortizing intangible assets:
Trade names		55,412		—		57,738		—
	$	303,823	$	182,482	$	321,326	$	187,244

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
INVENTORIES
Raw materials and purchased parts	$ 253,594	$ 231,811
Work in process	36,388	35,466
Finished and manufactured goods	276,414	322,986
Total inventories	566,396	590,263
Inventory reserves	$ 68,001	$ 41,146

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Losses) on Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Gains (losses) on Derivatives
Derivative, gain (losses) on derivative, net	$ 1,665	$ (1,825)	$ (5,131)
Commodity contracts
Gains (losses) on Derivatives
Derivative, gain (losses) on derivative, net	$ 266	$ (3,007)	$ (7,057)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold
Foreign currency forward contracts
Gains (losses) on Derivatives
Derivative, gain (losses) on derivative, net			$ 177
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Other Nonoperating Income (Expense)
Interest rate hedge amortization
Gains (losses) on Derivatives
Derivative, gain (losses) on derivative, net	$ (64)	$ (64)	$ (64)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating
Cross-currency swap contracts
Gains (losses) on Derivatives
Derivative, gain (losses) on derivative, net	$ 1,463	$ 1,246	$ 1,813
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
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-Publisher FASB
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+ Details

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Net sales	$ 4,104,102	$ 4,075,034	$ 4,174,598
Total cost of sales	2,864,166	2,833,822	2,938,564
Gross profit	1,239,936	1,241,212	1,236,034
Selling, general, and administrative expenses	717,633	716,628	768,423
Impairment of long-lived assets	91,337		140,844
Realignment charges	15,390		35,210
Operating income	415,576	524,584	291,557
Other income (expenses):
Interest expense	(40,542)	(58,722)	(56,808)
Interest income	8,189	7,183	6,230
Gain on deferred compensation investments	3,587	3,634	3,564
Gain (loss) on divestitures		(4,474)	2,994
Other	(9,168)	(3,524)	(11,085)
Total other expenses	(37,934)	(55,903)	(55,105)
Earnings before income taxes and equity method investment loss	377,642	468,681	236,452
Income tax expense (benefit):
Current	43,060	142,633	108,770
Deferred	(19,196)	(24,655)	(18,649)
Total income tax expense	23,864	117,978	90,121
Earnings before equity method investment loss	353,778	350,703	146,331
Equity method investment loss	(90)	(79)	(1,419)
Net earnings	353,688	350,624	144,912
Loss (earnings) attributable to redeemable noncontrolling interests	(3,415)	(2,365)	5,937
Net earnings attributable to Valmont Industries, Inc.	$ 350,273	$ 348,259	$ 150,849
Net earnings attributable to Valmont Industries, Inc. per share:
Basic	$ 16.91	$ 17.31	$ 6.85
Diluted	$ 16.79	$ 17.19	$ 6.78
Product sales
Net sales	$ 3,670,596	$ 3,660,779	$ 3,772,835
Total cost of sales	2,610,771	2,580,083	2,672,740
Service sales
Net sales	433,506	414,255	401,763
Total cost of sales	$ 253,395	$ 253,739	$ 265,824

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 350,273	$ 348,259	$ 150,849

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

ACQUISITIONS

12 Months Ended

Dec. 27, 2025

ACQUISITIONS

ACQUISITIONS

(2) ACQUISITIONS

Acquisitions of Businesses

On August 31, 2023, the Company acquired HR Products for $58,044 Australian dollars ($37,302 United States (“U.S.”) dollars) in cash, net of cash acquired, and subject to working capital adjustments. Of the purchase price, $7,200 Australian dollars ($4,626 U.S. dollars) was withheld at closing as a retention fund to address contingencies and potential disagreements. This retention amount was settled in two equal payments, with the first payment made during the third quarter of fiscal 2024 and the second payment made during the third quarter of fiscal 2025.

HR Products provides a wide range of irrigation products serving the agriculture and landscaping industries, with its operations reported in the Agriculture segment. This acquisition strengthens the Company’s position in the critical agriculture market of Australia by expanding its geographic footprint and bolstering its aftermarket parts presence. The acquired customer relationships will be amortized over 13 years. Goodwill resulting from the acquisition was not tax-deductible and was attributed to anticipated synergies and other intangibles that did not qualify for separate recognition. The Company finalized the purchase price allocation in the third quarter of fiscal 2024.

The following table summarizes the fair values of the assets acquired and liabilities assumed from HR Products as of the date of acquisition:


	August 31,
	2023
Current assets	$	24,153
Property, plant, and equipment		1,397
Goodwill		9,508
Customer relationships		11,503
Other non-current assets		3,997
Total fair value of assets acquired		50,558
Current liabilities		4,183
Deferred income taxes		3,046
Operating lease liabilities		2,792
Total fair value of liabilities assumed		10,021
Net assets acquired	$	40,537

Pro forma disclosures have been omitted, as this acquisition did not significantly impact the Company’s financial results. Acquisition-related costs for this transaction were insignificant in all fiscal years presented.

Subsequent to the fourth quarter of fiscal 2025, on January 12, 2026, the Company acquired the remaining 80% ownership interest in RMDS Innovation, Inc., a Quebec-based technology company, for approximately $20,745 Canadian dollars ($15,150 U.S. dollars), subject to customary working capital adjustments. The purchase price includes $4,108 Canadian dollars ($3,000 U.S. dollars) of contingent consideration, which management currently expects is probable of payment and payable in two future earn-out installments. The Company expects that the majority of the purchase price will be allocated to goodwill and will finalize the purchase price allocation within the one-year measurement period. In addition, the Company will remeasure its previously held equity method investment to fair value as of the acquisition date.

Acquisitions of Redeemable Noncontrolling Interests

In the fourth quarter of fiscal 2025, the Company completed negotiations with the noncontrolling interest holders of Solbras Energia Solar do Brasil S.A. to acquire the remaining 45% ownership interest and entered into a revised shareholder purchase agreement with a final redemption amount of approximately 79,000 Brazilian reais ($14,246 U.S dollars). Payment of this amount was made in the fourth quarter of fiscal 2025, thereby settling the related redeemable noncontrolling interest. The redemption resulted in an increase to “Retained earnings” of approximately $11,997 and increased diluted earnings per share by $0.61 and $0.60 for the thirteen and fifty-two weeks ended December 27, 2025, respectively.

In the fourth quarter of fiscal 2025, the Company completed negotiations with the noncontrolling interest holders of ConcealFab, Inc. to acquire the remaining 40% ownership interest outside of the existing redemption rights period. The Company entered into revised shareholder purchase agreements with each minority shareholder for an aggregate purchase price of approximately $81,822. Approximately $72,900 of this amount was paid during the fourth quarter of fiscal 2025, with the remaining approximately $8,922, recorded as “Mandatorily redeemable financial instrument” in the Consolidated Balance Sheets, paid in the first quarter of fiscal 2026.

In the third quarter of fiscal 2025, following the exercise of put options by the minority shareholders, the Company acquired an additional approximately 30% ownership interest of Valmont Irrigation Argentina B.V. for $14,624.

In the first quarter of fiscal 2024, the Company acquired an additional approximately 9% ownership interest of ConcealFab, Inc. for $7,227 and the remaining 25% ownership interest of Valmont Substations, LLC for $10,518.

These transactions involved acquiring portions of the remaining shares in consolidated subsidiaries, with no changes in control. See Note 1 for further information on the Company’s redeemable noncontrolling interests.

- Definition

The entire disclosure for business combination.

+ References

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+ Details

LONG-TERM DEBT (Details) - USD ($) $ in Thousands		12 Months Ended
LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Oct. 18, 2021	Dec. 27, 2025	Dec. 28, 2024
Long-term debt:
Debt issuance costs		$ (6,102)	$ (6,374)
Long-term debt		795,663	730,633
Less: Current installments of long-term debt		513	692
Long-term debt, excluding current installments		795,150	729,941
Minimum aggregate maturities of long-term debt
2025		513
2026		42
2027		0
2028		0
2029		$ 65,000
Senior Unsecured Notes 5.00% Due 2044
Long-term debt:
Interest rate on notes		5.00%
Redemption price of notes, stated as a percentage of principal amount		100.00%
Senior Unsecured Notes 5.25% Due 2054
Long-term debt:
Interest rate on notes		5.25%
Redemption price of notes, stated as a percentage of principal amount		100.00%
Unamortized discount on 5.00% and 5.25% senior unsecured notes
Long-term debt:
Unamortized discount on senior unsecured notes		$ (18,790)	(19,239)
Revolving credit agreement
Long-term debt:
Long-term debt		65,000	0
Outstanding line of credit		162
Unused and available borrowings		734,838
Revolving credit agreement \| Minimum
Long-term debt:
Basis points added to variable rate	0.00%
Revolving credit agreement \| Maximum
Long-term debt:
Basis points added to variable rate	0.625%
Revolving credit agreement \| Prime lending rate
Long-term debt:
Variable interest rate basis	prime lending rate
Revolving credit agreement \| Federal Funds rate
Long-term debt:
Variable interest rate basis	overnight bank rate
Basis points added to variable rate	0.50%
Revolving credit agreement \| LIBOR
Long-term debt:
Basis points added to variable rate	1.00%
Debt instrument	Secured Overnight Financing Rate (“SOFR”), based on a one-, three-, or six-month period, as selected by the Company
Revolving credit agreement \| LIBOR \| Minimum
Long-term debt:
Basis points added to variable rate	1.00%
Revolving credit agreement \| LIBOR \| Maximum
Long-term debt:
Basis points added to variable rate	1.625%
Revolving credit agreement \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Minimum
Long-term debt:
Basis points added to variable rate	1.00%
Revolving credit agreement \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Maximum
Long-term debt:
Basis points added to variable rate	1.625%
Other notes
Long-term debt:
Long-term debt		555	1,246
Senior Unsecured Notes 5.00% Due 2044 \| Senior Notes
Long-term debt:
Aggregate amount		$ 450,000	450,000
Interest rate on notes		5.00%
Unamortized debt discount		$ 11,814
Senior Unsecured Notes 5.25% Due 2054 \| Senior Notes
Long-term debt:
Aggregate amount		305,000	$ 305,000
Unamortized debt discount		6,976
Revolving Credit Facility
Long-term debt:
Total line of credit facility for short-term borrowings	$ 800,000
Additional borrowing capacity	400,000
Unused and available borrowings	$ 400,000
Revolving Credit Facility \| Revolving credit agreement
Long-term debt:
Outstanding line of credit		$ 65,000

LEASES -Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
LEASES
2026	$ 28,148
2027	23,058
2028	19,231
2029	15,879
2030	14,300
Thereafter	103,955
Total lease payments	204,571
Less: Present value adjustment	52,746
Present value of lease liabilities	$ 151,825	$ 156,980

NET EARNINGS PER SHARE

12 Months Ended

Dec. 27, 2025

NET EARNINGS PER SHARE

NET EARNINGS PER SHARE

(12) NET EARNINGS PER SHARE

The table below provides a reconciliation between the net earnings attributable to Valmont Industries, Inc. and the weighted average share amounts used to compute both basic and diluted net earnings per share:


	Fiscal Year Ended
	December 27,			December 28,			December 30,
	2025			2024			2023
Net earnings attributable to Valmont Industries, Inc.
Net earnings attributable to Valmont Industries, Inc.	$	350,273		$	348,259		$	150,849
Change in redemption value of redeemable noncontrolling interests		(15,489)			—			(7,374)
Net earnings attributable to Valmont Industries, Inc. including change in redemption value of redeemable noncontrolling interests	$	334,784		$	348,259		$	143,475
Weighted average shares outstanding (in thousands):
Basic		19,795			20,122			20,956
Dilutive effect of various stock awards		142			139			203
Diluted		19,937			20,261			21,159
Net earnings attributable to Valmont Industries, Inc. per share:
Basic	$	16.91		$	17.31		$	6.85
Dilutive effect of various stock awards		(0.12)			(0.12)			(0.07)
Diluted	$	16.79		$	17.19		$	6.78

As of December 27, 2025, December 28, 2024, and December 30, 2023, there were 22,216; 44,620; and 127,774 outstanding stock options, respectively, with exercise prices that exceeded the average market price of common stock during the respective periods. As such, these options were anti-dilutive and were excluded from the computation of diluted net earnings per share.

BUSINESS SEGMENTS - Summary by Geographical Area by Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
BUSINESS SEGMENTS
Total net sales	$ 4,104,102	$ 4,075,034	$ 4,174,598
Total long-lived assets	1,649,681	1,646,580
United States
BUSINESS SEGMENTS
Total net sales	2,957,136	2,856,033	2,860,951
Total long-lived assets	1,132,303	1,117,631
Australia
BUSINESS SEGMENTS
Total net sales	282,257	310,096	313,075
Total long-lived assets	$ 105,400	89,415
Australia \| Net Sales \| Foreign country
BUSINESS SEGMENTS
Threshold for disclosure as percentage of net sales by customer	7.00%
Other
BUSINESS SEGMENTS
Total net sales	$ 705,582	707,959	689,205
Total long-lived assets	411,978	439,534
Brazil
BUSINESS SEGMENTS
Total net sales	$ 159,127	$ 200,946	$ 311,367
Brazil \| Net Sales \| Foreign country
BUSINESS SEGMENTS
Threshold for disclosure as percentage of net sales by customer	4.00%

PROPERTY, PLANT, AND EQUIPMENT (Tables)

12 Months Ended

Dec. 27, 2025

PROPERTY, PLANT, AND EQUIPMENT

Schedule of Property, Plant And Equipment, at Cost


		December 27,			December 28,
		2025			2024
Land and improvements		$	135,997		$	118,199
Buildings and improvements			430,563			405,710
Machinery and equipment			804,232			738,329
Transportation equipment			31,749			29,825
Office furniture and equipment			133,338			135,344
Construction in progress			104,729			74,610
Total property, plant, and equipment, at cost			1,640,608			1,502,017
Less accumulated depreciation			(966,745)			(913,045)
Total property, plant, and equipment, net		$	673,863		$	588,972

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PP&E (Details)	Dec. 27, 2025
Buildings and improvements \| Minimum
Long-lived assets
Estimated useful lives	10 years
Buildings and improvements \| Maximum
Long-lived assets
Estimated useful lives	30 years
Machinery and equipment \| Minimum
Long-lived assets
Estimated useful lives	3 years
Machinery and equipment \| Maximum
Long-lived assets
Estimated useful lives	15 years
Transportation equipment \| Minimum
Long-lived assets
Estimated useful lives	5 years
Transportation equipment \| Maximum
Long-lived assets
Estimated useful lives	10 years
Office furniture and equipment \| Minimum
Long-lived assets
Estimated useful lives	3 years
Office furniture and equipment \| Maximum
Long-lived assets
Estimated useful lives	7 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 27, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The Consolidated Financial Statements include the accounts of Valmont Industries, Inc. and its controlled subsidiaries (collectively, “Valmont” or the “Company”). Investments in affiliates and joint ventures, where the Company exercises significant influence but lacks control or is not the primary beneficiary, are accounted for using the equity method. All intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

In preparing the Consolidated Financial Statements in accordance with generally accepted accounting principles, the Company’s management has made various estimates and assumptions. These estimates affect the reporting of assets and liabilities, the recognition of revenue and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from these estimates.

Fiscal Year

The Company operates on a 52- or 53-week fiscal year, with each fiscal year ending on the last Saturday in December. Accordingly, the Company’s fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 each consisted of 52 weeks. Certain international subsidiaries are subject to statutory requirements that require a fiscal year end of December 31 (most notably Brazil).

Cash Book Overdrafts

As of December 27, 2025 and December 28, 2024, cash book overdrafts totaling $19,400 and $23,492, respectively, were classified as “Accounts payable” in the Consolidated Balance Sheets. The Company’s policy is to report changes in book overdrafts as “Cash flows from operating activities” in the Consolidated Statements of Cash Flows.

Receivables

Receivables are reported in the Consolidated Balance Sheets net of any allowances for credit losses. Allowances are maintained at levels deemed appropriate based on an evaluation of outstanding receivables, considering factors such as the age of the receivables, prevailing economic conditions, and customer credit quality. As the Company’s international business has expanded, its exposure to potential losses in international markets has also increased. These exposures are particularly challenging to estimate in politically unstable regions, regions where the Company has limited experience, or regions lacking transparency in governmental credit conditions. In fiscal 2025, the Company recognized $23,832 of expected credit losses in its Brazil market given unfavorable macroeconomic factors, including high interest rates in the region, lower net farm income, and higher delinquency rates observed in the agricultural sector.

The following table provides details of the balances of the allowance for credit losses and changes therein:


					Charged to			Currency			Deductions
		Beginning			Profit and			Translation			from			Ending
Fiscal year ended:		Period Balance			Loss			Adjustment			Reserves			Period Balance
December 27, 2025		$	30,408		$	40,009		$	4,361		$	(19,787)		$	54,991
December 28, 2024			32,897			5,133			(3,190)			(4,432)			30,408
December 30, 2023			20,890			17,657			911			(6,561)			32,897

The Company sells trade accounts receivable at a discount through uncommitted sale programs to third-party financial institutions without recourse. As these accounts receivable are sold without recourse, the Company does not retain the associated risks after the transfer. As of December 27, 2025, the Company had not sold any trade accounts receivable. As of December 28, 2024, the Company sold trade accounts receivable of $20,000.

Transfers of accounts receivable are treated as sales, meaning sold receivables are removed from “Receivables, less allowance” in the Consolidated Balance Sheets. The cash proceeds from these sales are reflected in “Cash flows from operating activities” in the Consolidated Statements of Cash Flows. The discount, representing the difference between the carrying amount of the trade accounts receivable sold and the cash received, is recorded in “Other income (expenses)” in the Consolidated Statements of Earnings.

Inventories

Inventory is stated at the lower of cost or net realizable value. Cost is determined using either the first-in, first-out method or the weighted average cost method, depending on the inventory management practices at each location.

Finished goods and work-in-process inventories include the cost of raw materials, direct labor, and applicable manufacturing overhead incurred to convert materials into finished products. Inventory balances are periodically reviewed and written down, as necessary, for damaged, obsolete, excess, or slow-moving items based on management’s estimates of net realizable value.

Long-Lived Assets

Property, plant, and equipment are recorded at historical cost. For financial reporting purposes, the Company primarily uses the straight-line method for depreciation and amortization, whereas accelerated methods are applied for income tax purposes. The estimated useful lives of assets for annual depreciation and amortization are as follows:

●

Buildings and improvements: 10 to 30 years

●

Machinery and equipment: 3 to 15 years

●

Transportation equipment: 5 to 10 years

●

Office furniture and equipment: 3 to 7 years

●

Intangible assets: 2 to 20 years

Property, plant, and equipment are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. An impairment loss is recognized when the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. Recoverability is assessed by comparing the carrying amount of the asset to the estimated undiscounted future cash flows expected to result from the use and eventual disposition of the asset. If the asset is not recoverable, an impairment loss is measured as the amount by which the carrying amount exceeds fair value.

The Company evaluates goodwill for impairment annually during the third fiscal quarter or whenever events or circumstances indicate potential impairment. This assessment includes estimating after-tax operating cash flows (net of capital expenditures) and discounting them to present value.

Indefinite‑lived intangible assets are evaluated separately from goodwill using a relief-from-royalty method as part of the annual impairment testing. Significant changes in assumptions related to a reporting unit’s goodwill or indefinite‑lived intangible assets may trigger a re-evaluation for potential impairment. Factors considered in these assessments include recent operating performance, projected future performance, industry conditions, and other relevant indicators. For details on impairments of goodwill and other intangible assets recognized during fiscal 2025 and fiscal 2023, see Note 7.

Income Taxes

The Company calculates deferred income taxes using the asset and liability method. This method recognizes deferred tax assets and liabilities based on temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates. Changes in tax rates affecting deferred tax assets and liabilities are recognized in income in the period in which the tax rate change is enacted.

Warranties

The Company’s warranty provision represents management’s best estimate of potential liabilities arising from product warranties. Future warranty costs are estimated and recognized at the time of sale, based on historical claim rates applied to units still under warranty. Provisions are also recorded for known warranty claims as they arise.

Accumulated Other Comprehensive Income (Loss)

Comprehensive income consists of net earnings, foreign currency translation adjustments, certain derivative-related activities, and changes in prior service costs and net actuarial losses related to the pension plan. The results of operations for foreign subsidiaries are translated using average exchange rates for the reporting period, while assets and liabilities are translated at the exchange rates in effect on the balance sheet dates. As of December 27, 2025 and December 28, 2024, the accumulated other comprehensive income (loss) (“AOCI”) consisted of the following:


	December 27,			December 28,
	2025			2024
Foreign currency translation adjustments	$	(248,741)		$	(306,159)
Hedging activities		15,405			21,350
Defined benefit pension plan		(57,179)			(47,966)
Accumulated other comprehensive loss	$	(290,515)		$	(332,775)

Revenue Recognition

The Company evaluates each customer contract to determine the appropriate revenue recognition model based on its type, terms, and conditions. Contracts generally contain fixed-price terms, and the Company excludes sales tax from revenue. Contract revenues are classified as “Product sales” when the performance obligation involves manufacturing and selling goods, and as “Service sales” when the performance obligation involves providing a service. Service revenue is primarily associated with the Coatings product line and the remote monitoring subscription services within the Technology Products and Services product line.

Customer acceptance provisions generally apply only during the design stage, although the Company may agree to other acceptance terms on a limited basis. Customers are required to approve the design before manufacturing begins and products are delivered. The Company does not earn compensation solely for product design and does not consider design services to be a separate performance obligation; accordingly, no revenue is recognized for design services. Bid and proposal costs, including design services performed prior to contract inception, are expensed as incurred. Customers do not have general rights of return after delivery, and the Company establishes provisions for estimated warranties.

Shipping and handling costs are included in cost of sales, with freight considered a fulfillment obligation rather than a separate performance obligation. Freight expenses are recognized proportionally as the structure is manufactured, in line with revenue recognized from the associated customer contract over time. Except for the Utility, Solar, and Telecommunications product lines, inventory is interchangeable among the various customers within each segment. The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. If payment is expected within one year of transferring control of goods or services, the Company does not adjust contract consideration for any significant financing component.

Most customers are invoiced upon shipment or delivery of goods to their specified locations. Contract assets are recognized as revenue is earned over time and are reduced when the customer is invoiced. As of December 27, 2025 and December 28, 2024, the Company’s contract assets totaled $266,922 and $187,257, respectively, and were recorded as “Contract assets” in the Consolidated Balance Sheets.

Certain customers are invoiced through advance or progress billings. When the progress toward performance obligations is less than the amount billed to the customer, the excess is recorded as a contract liability. As of December 27, 2025, total contract liabilities were $52,475, with $52,013 recorded as “Contract liabilities” and $462 as “Other non-current

liabilities” in the Consolidated Balance Sheets. As of December 28, 2024, total contract liabilities were $130,696, with $126,932 recorded as “Contract liabilities” and $3,764 as “Other non-current liabilities” in the Consolidated Balance Sheets. Additional details are as follows:

●

During the fiscal years ended December 27, 2025 and December 28, 2024, the Company recognized $124,246 and $53,819 in revenue, respectively, from amounts included in contract liabilities as of December 28, 2024 and December 30, 2023. This revenue reflects advance payments applied to performance obligations completed during the respective periods.

●

As of December 27, 2025, the Company had $462 in remaining performance obligations on contracts with an original expected duration of one year or more. These obligations are expected to be fulfilled within the next 12 to 24 months.

Segment and Product Line Revenue Recognition

Infrastructure Segment

Steel and concrete structures in the Utility product line are custom engineered to customer specifications. Due to this level of customization, the products typically have no alternative use to the Company if an order is canceled after production begins. Customer contracts include termination clauses or provide enforceable rights to payment for work performed to date, including a reasonable profit. These terms support the conclusion that control transfers to the customer over time. Accordingly, revenue is recognized based on progress toward completion of the performance obligation.

Progress is measured using an input-based method, generally the ratio of production hours incurred to total estimated hours required for the project. The resulting percentage of completion is applied to the transaction price and estimated costs to determine revenue, cost of sales, and gross profit for the reporting period. Orders are typically completed within several months and therefore there is no significant financing component.

For certain sales, the Company engages external sales agents and incurs commissions and other direct incremental costs to obtain sales contracts, which are recognized proportionately as progress is made. The Company has elected to apply the practical expedient to expense such costs as incurred, as the amortization period of the related assets is expected to be one year or less. Accordingly, these costs are recorded in “Selling, general, and administrative expenses” in the Consolidated Statements of Earnings.

Revenue from Solar product line structures is recognized at a point in time, generally upon shipment or delivery, depending on contract terms.

Revenue from structures in the Lighting and Transportation product line and from most Telecommunications products is recognized at a point in time, generally upon shipment or delivery to the customer, which aligns with the billing date.

However, certain large regional customers in the Telecommunications product line require customized structures with unique specifications. When such contracts include cancellation clauses requiring payment for work performed plus a reasonable margin, the Company recognizes revenue over time using an input-based method (hours incurred relative to total estimated hours) consistent with the Utility product line.

Revenue from Coatings product line services, including galvanizing and powder coating, is recognized upon completion of the service and when goods are available for pickup or delivery.

Agriculture Segment

Revenue from irrigation equipment, related parts, services, and tubular products sold to industrial customers is recognized at a point in time, typically upon shipment, which aligns with when the Company bills the customer.

For certain international irrigation projects, customers require installation services in addition to equipment. These contracts contain multiple performance obligations. The standalone selling price for each performance obligation is estimated using management’s assessment of the price a customer would pay on a standalone basis, which generally reflects cost plus a reasonable profit margin.

Remote monitoring subscription services within the Technology Products and Services product line are billed primarily on an annual basis. Revenue from these services is recognized over time on a straight-line basis over the contract term.

Over Time and Point in Time Revenue

The disaggregation of revenue by product line is provided in Note 20. A breakdown of revenue recognized over time and at a point in time by segment for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 is as follows:


	Fiscal Year Ended
	December 27, 2025				December 28, 2024				December 30, 2023
	Point in Time		Over Time		Point in Time		Over Time		Point in Time		Over Time
Infrastructure	$	1,612,552	$	1,477,180	$	1,656,355	$	1,342,026	$	1,744,139	$	1,255,498
Agriculture		978,828		35,542		1,043,960		32,693		1,144,633		30,328
Total net sales	$	2,591,380	$	1,512,722	$	2,700,315	$	1,374,719	$	2,888,772	$	1,285,826

Equity Method Investments

The Company has equity method investments in non-consolidated subsidiaries, which are recorded as “Other non-current assets” in the Consolidated Balance Sheets.

Treasury Stock

Repurchased shares are recorded as “Treasury stock” and result in a reduction of “Shareholders’ equity” in the Consolidated Balance Sheets. When treasury shares are reissued, the Company applies the last-in, first-out method. Any difference between the repurchase cost and the reissuance price is charged or credited to “Additional paid-in capital” (or “Retained earnings” in the absence of “Additional paid-in capital”). As of December 27, 2025, the Company had repurchased 8,843,280 shares for approximately $1,533,045 under the Company’s share repurchase program.

Research and Development

Research and development costs are expensed as incurred and included in “Selling, general, and administrative expenses” in the Consolidated Statements of Earnings. For the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, research and development costs were approximately $33,000, $59,000, and $55,000, respectively.

Supplier Finance Program

In fiscal 2019, the Company entered into an agreement with a third-party financial institution to facilitate a supplier finance program. This program allows qualifying suppliers to sell their receivables from the Company to the financial institution. These suppliers negotiate directly with the financial institution regarding their outstanding receivables, while the Company’s rights and obligations to suppliers remain unaffected. The Company has no economic interest in a supplier’s decision to participate in the program. Once a supplier opts into the program, they select which individual invoices from the

Company to sell to the financial institution. The Company is obligated to pay the negotiated invoice amount to the financial institution on the due date, regardless of whether the supplier has sold the individual invoice.

The Company’s payment terms with suppliers participating in the supplier finance program, which the Company deems to be commercially reasonable, generally range up to 75 days. The Company has no direct financial relationship with the financial institution beyond the payment of confirmed invoices on their contractual due dates, and the Company has not pledged any assets or provided guarantees in connection with the supplier finance program.

For invoices from participating suppliers that are not sold under the supplier finance program, the financial institution pays the supplier on the invoice’s due date. The invoice amounts and scheduled payment terms remain unchanged, regardless of whether the supplier decides to sell under these arrangements. Payments related to these obligations are included in “Cash flows from operating activities” in the Consolidated Statements of Cash Flows.

As of December 27, 2025 and December 28, 2024, outstanding payment obligations under the Company’s supplier finance program (included in “Accounts payable” in the Consolidated Balance Sheets) were as follows:


	December 27,			December 28,
	2025			2024
Confirmed obligations outstanding—beginning of period	$	45,602		$	41,916
Invoices confirmed		275,948			216,731
Confirmed invoices paid		(265,226)			(213,045)
Confirmed obligations outstanding—end of period	$	56,324		$	45,602

Redeemable Noncontrolling Interests

Noncontrolling interests with redemption features that are not solely within the Company’s control are classified as redeemable noncontrolling interests. The Company has redeemable noncontrolling interests in certain entities. A noncontrolling interest holder can require the Company to purchase their remaining ownership, referred to as a put right. Likewise, the Company can require a noncontrolling interest holder to sell the Company their remaining ownership, known as a call option. The redemption amount and effective date of these rights vary according to the applicable operating agreements, with some redeemable at fair value and some redeemable at amounts other than fair value.

As a result of these redemption features, the Company records the noncontrolling interests as redeemable and classifies the balances in temporary equity in the Consolidated Balance Sheets, initially at their acquisition-date fair value. The Company adjusts the redeemable noncontrolling interests each reporting period for the net income (loss) attributable to the noncontrolling interests and any applicable redemption value adjustments using the maximum redemption value. Redemption value adjustments are offset against retained earnings. Earnings used in the computation of earnings per share for the reporting period are impacted by redemption value adjustments for noncontrolling interests redeemable at amounts other than fair value using the entire adjustment method.

During the thirteen weeks ended June 28, 2025, the Company recorded a $26,243 change in the redemption value of redeemable noncontrolling interest related to the Company’s joint venture agriculture solar business, which was reflected in “Shareholders’ equity” and “Redeemable noncontrolling interests.” This represented a change in redemption value that was treated as an adjustment to net earnings for purposes of calculating earnings per share. The Company determined that the change in redemption value included the correction of a prior-year error in the determination of the redemption value of redeemable noncontrolling interest totaling $21,792. This correction increased diluted loss per share by $1.10 for the thirteen weeks ended June 28, 2025 and decreased diluted earnings per share by $1.09 for the fifty-two weeks ended December 27, 2025. The Company concluded that the correction was not material to the period or to any previously issued financial statements.

As of December 27, 2025 and December 28, 2024, the redeemable noncontrolling interests were $9,498 and $51,519, respectively. The final amounts paid for these interests may vary significantly, as the redemption amounts are contingent on the future operational results of the respective businesses.

Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This update is intended to improve transparency and usefulness in income tax disclosures, particularly in areas such as rate reconciliation and reporting of income taxes paid. This guidance is effective prospectively for the fiscal year ending December 27, 2025. The adoption of this guidance did not have a material impact on the Company's Consolidated Financial Statements. See Note 9 for the required disclosures associated with this update.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This update aims to enhance expense disclosures by providing more detailed information on the types of expenses within commonly presented categories. The guidance is effective on both a prospective and retrospective basis for the fiscal year ending December 25, 2027, with early adoption permitted. The Company does not expect any impact on its results of operations, as the changes primarily relate to enhanced disclosures.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update amends certain aspects of the accounting for and disclosure of software costs. The guidance will be adopted prospectively for the Form 10-K for the fiscal year ending December 25, 2027, with early adoption permitted. The Company is currently evaluating the impact of this standard on the Consolidated Financial Statements and related disclosures.

PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Dec. 27, 2025

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

(6) PROPERTY, PLANT, AND EQUIPMENT

As of December 27, 2025 and December 28, 2024, property, plant, and equipment, at cost, consisted of the following:


		December 27,			December 28,
		2025			2024
Land and improvements		$	135,997		$	118,199
Buildings and improvements			430,563			405,710
Machinery and equipment			804,232			738,329
Transportation equipment			31,749			29,825
Office furniture and equipment			133,338			135,344
Construction in progress			104,729			74,610
Total property, plant, and equipment, at cost			1,640,608			1,502,017
Less accumulated depreciation			(966,745)			(913,045)
Total property, plant, and equipment, net		$	673,863		$	588,972

Depreciation expense for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 was $77,257, $81,181, and $78,138, respectively.

ACQUISITIONS - Redeemable Noncontrolling Interests (Details) $ / shares in Units, R$ in Thousands, $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 27, 2025 USD ($) $ / shares	Sep. 27, 2025 USD ($)	Mar. 30, 2024 USD ($)	Dec. 27, 2025 BRL (R$) $ / shares	Mar. 28, 2026 USD ($)	Dec. 27, 2025 USD ($)
ACQUISITIONS
Mandatorily redeemable financial instrument						$ 8,922
ConcealFab
ACQUISITIONS
Percentage acquired			9.00%	40.00%		40.00%
Consideration transferred	$ 81,822		$ 7,227
Amount paid for repurchase of redeemable noncontrolling interests	72,900
Mandatorily redeemable financial instrument					$ 8,922
Valmont Substations, LLC
ACQUISITIONS
Percentage acquired			25.00%
Consideration transferred			$ 10,518
Solbras Energia Solar do Brasil S.A.
ACQUISITIONS
Percentage acquired				45.00%		45.00%
Redeemable amount				R$ 79,000		$ 14,246
Retained earnings	$ 11,997
Earnings per share, diluted \| $ / shares	$ 0.61			R$ 0.6
Valmont Irrigation Argentina B.V.
ACQUISITIONS
Percentage acquired		30.00%
Consideration transferred		$ 14,624

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 27, 2025

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of fair value of derivative instruments


		Consolidated	December 27,		December 28,
Derivatives designated as hedging instruments:		Balance Sheets location	2025		2024
Commodity contracts		Prepaid expenses and other current assets	$	1,590	$	617
Commodity contracts		Other accrued expenses		—		(371)
Cross-currency swap contracts		Prepaid expenses and other current assets		6		1,074
Cross-currency swap contracts		Other accrued expenses		(8,100)		—
			$	(6,504)	$	1,320

Schedule of gains (losses) on derivatives recognized in the condensed consolidated statements of earnings


		Consolidated	Fiscal Year Ended
Derivatives designated		Statements of	December 27,		December 28,		December 30,
as hedging instruments:		Earnings location	2025		2024		2023
Commodity contracts		Product cost of sales	$	266	$	(3,007)	$	(7,057)
Foreign currency forward contracts		Other income (expenses)		—		—		177
Interest rate hedge amortization		Interest expense		(64)		(64)		(64)
Cross-currency swap contracts		Interest expense		1,463		1,246		1,813
			$	1,665	$	(1,825)	$	(5,131)

Cash Flow Hedges

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of notional amounts of outstanding derivative

As of December 27, 2025, the details of these contracts were as follows:


		Notional		Total
Commodity Type		Amount		Purchase Quantity	Maturity Dates
Hot-rolled coil steel		$	6,226	7,250 short tons	December 2025
Natural gas			809	210,000 MMBtu	January 2026 to December 2026
Ultra-low-sulfur diesel fuel			8,289	4,032,000 gallons	December 2025 to June 2027
Zinc			8,808	2,880 metric tons	January 2026 to December 2027

Net Investment Hedges

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of notional amounts of outstanding derivative

Key terms as of December 27, 2025 were as follows:


		Notional			Swapped	Settlement
Currency		Amount		Termination Date	Interest Rate	Amount
Canadian dollar		$	40,000	October 1, 2028	4.0900%	C$	54,776
Chinese yuan		$	30,000	October 1, 2032	3.1125%	¥	215,640
Euro		$	80,000	April 1, 2029	3.4610%	€	74,509

BANK CREDIT ARRANGEMENTS (Details) - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
Bank Credit Arrangements
Notes payable to banks		$ 1,669
Short-term borrowings
Bank Credit Arrangements
Unused and available borrowings	$ 10,071
Notes payable to banks	$ 0	$ 1,669

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 27, 2025	Dec. 28, 2024
Current assets:
Cash and cash equivalents	$ 187,140	$ 164,315
Receivables, less allowance of $54,991 and $30,408, respectively	590,127	654,360
Inventories	566,396	590,263
Contract assets	266,922	187,257
Income taxes receivable	38,365	4,756
Prepaid expenses and other current assets	70,698	82,441
Total current assets	1,719,648	1,683,392
Property, plant, and equipment, at cost	1,640,608	1,502,017
Less accumulated depreciation	(966,745)	(913,045)
Property, plant, and equipment, net	673,863	588,972
Goodwill	570,954	623,847
Other intangible assets, net	121,341	134,082
Defined benefit pension asset	39,666	46,520
Operating lease right-of-use assets	139,857	146,916
Deferred compensation investments	29,631	27,379
Non-current deferred tax asset	57,751	37,909
Other non-current assets	16,618	40,955
Total assets	3,369,329	3,329,972
Current liabilities:
Current installments of long-term debt	513	692
Notes payable to banks		1,669
Mandatorily redeemable financial instrument	8,922
Accounts payable	359,539	372,197
Accrued employee compensation and benefits	128,155	143,028
Contract liabilities	52,013	126,932
Other accrued expenses	156,596	132,379
Income taxes payable	12,604	22,509
Dividends payable	13,278	12,019
Total current liabilities	731,620	811,425
Deferred income taxes	5,316	6,344
Long-term debt, excluding current installments	795,150	729,941
Operating lease liabilities	130,007	134,534
Deferred compensation liabilities	29,631	27,379
Other non-current liabilities	35,320	26,736
Total liabilities	1,727,044	1,736,359
Redeemable noncontrolling interests	9,498	51,519
Shareholders' equity:
Common stock of $1 par value, authorized 75,000,000 shares; issued 27,900,000 shares	27,900	27,900
Retained earnings	3,156,235	2,940,838
Accumulated other comprehensive loss	(290,515)	(332,775)
Treasury stock	(1,260,833)	(1,093,869)
Total shareholders' equity	1,632,787	1,542,094
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$ 3,369,329	$ 3,329,972

DEFINED BENEFIT RETIREMENT PLAN - Additional Information (Details) £ in Thousands, $ in Thousands	12 Months Ended
	Dec. 27, 2025 USD ($)	Dec. 28, 2024 USD ($)	Mar. 26, 2024 USD ($)	Mar. 26, 2024 GBP (£)
DEFINED BENEFIT RETIREMENT PLAN
Weighted average maturity period of corporate bond portfolio	12 years
Plan assets	$ 484,488	$ 461,177
Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	104,291	91,783
Level 1 \| Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	15,920	8,927
Level 3 \| Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	88,371	82,856
Plan assets at NAV
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	380,197	369,394
Temporary cash investments \| Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	15,920	8,927
Temporary cash investments \| Level 1 \| Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	15,920	8,927
Bulk annuity insurance policy
DEFINED BENEFIT RETIREMENT PLAN
Percentage of total plan participants			15.00%	15.00%
Plan assets			$ 90,800	£ 70,865
Bulk annuity insurance policy \| Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	88,371	82,856
Bulk annuity insurance policy \| Level 3
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	88,371	82,856
Bulk annuity insurance policy \| Level 3 \| Estimated fair value
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	88,371	82,856
Leveraged inflation-linked gilt funds \| Plan assets at NAV
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	342,150	146,601
Corporate bonds \| Plan assets at NAV
DEFINED BENEFIT RETIREMENT PLAN
Plan assets	$ 38,047	33,318
Corporate stock \| Plan assets at NAV
DEFINED BENEFIT RETIREMENT PLAN
Plan assets		73,426
Secured income asset funds \| Plan assets at NAV
DEFINED BENEFIT RETIREMENT PLAN
Plan assets		$ 116,049

EMPLOYEE RETIREMENT SAVINGS PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
EMPLOYEE RETIREMENT SAVINGS PLAN
Employee contribution limit per calendar year to 401 (k) plan	75.00%
Assets related to non-qualified deferred compensation plan included in other assets	$ 29,631	$ 27,379
Total amount distributed from non-qualified deferred compensation plan	4,213	5,467
Company contributions	$ 20,600	$ 19,100	$ 20,000

DIVESTITURES (Details) $ in Thousands, $ in Thousands					3 Months Ended					12 Months Ended
DIVESTITURES (Details) $ in Thousands, $ in Thousands	Nov. 25, 2024 USD ($)	Oct. 31, 2024 AUD ($) payment	Oct. 31, 2024 USD ($) payment	Apr. 30, 2023 USD ($)	Mar. 29, 2025 AUD ($)	Mar. 29, 2025 USD ($)	Dec. 28, 2024 AUD ($)	Dec. 28, 2024 USD ($)	Jul. 01, 2023 USD ($)	Dec. 28, 2024 USD ($)	Dec. 30, 2023 USD ($)
DIVESTITURES
Proceeds from divestitures, net of cash divested										$ 3,830	$ 6,369
Pre-tax gain (loss) on sale of engineering and equipment										$ (4,474)	$ 2,994
George Industries
DIVESTITURES
Proceeds from divestitures, net of cash divested	$ 500
Pre-tax gain (loss) on sale of engineering and equipment								$ 2,779
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]							Nonoperating Income (Expense)	Nonoperating Income (Expense)
Extractive Business
DIVESTITURES
Proceeds from divestitures, net of cash divested		$ 5,042	$ 3,330		$ 800	$ 503
Pre-tax gain (loss) on sale of engineering and equipment							$ 2,567	$ 1,695
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]							Nonoperating Income (Expense)	Nonoperating Income (Expense)
Divestiture of businesses, additional proceeds to be received		$ 1,800	$ 1,172
Number of Installments \| payment		2	2
Torrent Engineering and Equipment
DIVESTITURES
Proceeds from divestitures, net of cash divested				$ 6,369
Pre-tax gain (loss) on sale of engineering and equipment									$ 2,994
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]									Nonoperating Income (Expense)

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Stock Based Compensation
Stock-based compensation	$ 24,308	$ 29,869	$ 39,219
Restricted Stock Units
Stock Based Compensation
Stock-based compensation	$ 13,195	$ 17,141	$ 22,478
Directors and certain management employees \| Restricted Stock Units
Stock Based Compensation
Restricted stock units granted	43,255	52,175	67,723
Weightedaverage per share price on grant date	$ 394.23	$ 295.84	$ 233.96
Total intrinsic value	$ 44,095	$ 42,381	$ 35,538
Weighted-average period for grant of stock-based compensation	1 year 8 months 8 days
Deferred stock-based compensation granted	$ 28,005

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Publisher FASB
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

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+ Details

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 27, 2025

FAIR VALUE MEASUREMENTS

Schedule of trading securities measured at fair value


	Carrying Value		Fair Value Measurement Using:
	December 27, 2025		Level 1		Level 2		Level 3
Deferred compensation investments	$	29,631	$	29,631	$	—	$	—
Derivative financial instruments, net		(6,504)		—		(6,504)		—
Cash and cash equivalents—mutual funds		3,752		3,752		—		—


	Carrying Value		Fair Value Measurement Using:
	December 28, 2024		Level 1		Level 2		Level 3
Deferred compensation investments	$	27,379	$	27,379	$	—	$	—
Derivative financial instruments, net		1,320		—		1,320		—
Cash and cash equivalents—mutual funds		11,063		11,063		—		—

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 27, 2025

LONG-TERM DEBT

Schedule of Long-Term Debt


		December 27,			December 28,
		2025			2024
5.00% senior unsecured notes due in fiscal 2044 (a)		$	450,000		$	450,000
5.25% senior unsecured notes due in fiscal 2054 (b)			305,000			305,000
Unamortized discount on 5.00% and 5.25% senior unsecured notes (a) (b)			(18,790)			(19,239)
Revolving credit agreement (c)			65,000			—
Other notes			555			1,246
Debt issuance costs			(6,102)			(6,374)
Long-term debt			795,663			730,633
Less: Current installments of long-term debt			513			692
Long-term debt, excluding current installments		$	795,150		$	729,941

(a)

(b)

(c)

(i)

(ii)

the higher of

●

the prime lending rate,

●

the overnight bank rate plus 50 basis points, or

●

term SOFR (based on a one-month period) plus 100 basis points,

plus, in each case, 0 to 62.5 basis points, depending on the credit rating of the Company’s senior unsecured long-term debt published by S&P Global Ratings and Moody’s Ratings; or

(iii)

daily simple SOFR and a spread of 100 to 162.5 basis points, depending on the credit rating of the Company’s senior unsecured long-term debt published by S&P Global Ratings and Moody’s Ratings.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for Doubtful Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 30,408	$ 32,897	$ 20,890
Charged to Profit and Loss	40,009	5,133	17,657
Currency Translation Adjustment	4,361	(3,190)	911
Deductions from Reserves	(19,787)	(4,432)	(6,561)
Balance at Close of Period	$ 54,991	$ 30,408	$ 32,897

INVENTORIES (Tables)

12 Months Ended

Dec. 27, 2025

INVENTORIES

Schedule of Components of Inventories


	December 27,			December 28,
	2025			2024
Raw materials and purchased parts	$	253,594		$	231,811
Work in process		36,388			35,466
Finished and manufactured goods		276,414			322,986
Total inventories	$	566,396		$	590,263

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Notional Amounts Outstanding (Details) - 12 months ended Dec. 27, 2025 - Net Investment Hedges - Cross-currency swap contracts € in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands	CAD ($)	CNY (¥)	EUR (€)	USD ($)
Canadian dollar
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount				$ 40,000
Swapped Interest Rate				4.09%
Settlement Amount	$ 54,776
Chinese yuan
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount				$ 30,000
Swapped Interest Rate				3.1125%
Settlement Amount \| ¥		¥ 215,640
Euro
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount				$ 80,000
Swapped Interest Rate				3.461%
Settlement Amount \| €			€ 74,509

BUSINESS SEGMENTS

12 Months Ended

Dec. 27, 2025

BUSINESS SEGMENTS

BUSINESS SEGMENTS

(20) BUSINESS SEGMENTS

The Company’s chief operating decision maker (“CODM”) is the President and Chief Executive Officer. The CODM uses operating income as the profit measure to evaluate segment performance and allocate resources across segments. The CODM also uses operating income as an input to the overall compensation measures under the Company’s incentive compensation plans. Segment selling, general, and administrative expenses include certain corporate expense allocations, typically based on employee headcounts and sales volumes. For segment reporting purposes, the Company excludes unallocated corporate general and administrative expenses, interest expenses, non-operating income and deductions, and income taxes from operating income. The accounting policies for the reportable segments are consistent with those described in Note 1.

The reportable segments are as follows:

Infrastructure: This segment consists of the manufacture and distribution of products and solutions to serve the infrastructure markets of utility, lighting, transportation, telecommunications, and solar, along with coatings services to protect metal products.

Agriculture: This segment consists of the manufacture of center pivot and linear irrigation equipment components for agricultural markets, including aftermarket parts and tubular products, and advanced technology solutions for precision agriculture.

Summary by Business Segment


		Fiscal year ended December 27, 2025
		Infrastructure			Agriculture			Consolidated
Sales		$	3,099,034		$	1,020,750		$	4,119,784
Intersegment sales			(9,302)			(6,380)			(15,682)
Net sales			3,089,732			1,014,370			4,104,102
Cost of sales			2,164,098			700,068			2,864,166
Gross profit			925,634			314,302			1,239,936
Selling, general, and administrative expenses (a)			398,504			217,359			615,863
Impairment of long-lived assets			89,356			1,981			91,337
Realignment charges			7,600			2,886			10,486
Segment operating income		$	430,174		$	92,076			522,250
Unallocated corporate expenses									101,770
Corporate realignment charges									4,904
Total operating income								$	415,576


		Fiscal year ended December 28, 2024
		Infrastructure			Agriculture			Consolidated
Sales		$	3,008,576		$	1,083,708		$	4,092,284
Intersegment sales			(10,195)			(7,055)			(17,250)
Net sales			2,998,381			1,076,653			4,075,034
Cost of sales			2,094,645			739,177			2,833,822
Gross profit			903,736			337,476			1,241,212
Selling, general, and administrative expenses (a)			406,596			199,140			605,736
Segment operating income		$	497,140		$	138,336			635,476
Unallocated corporate expenses									110,892
Total operating income								$	524,584


		Fiscal year ended December 30, 2023
		Infrastructure			Agriculture			Consolidated
Sales		$	3,010,067		$	1,182,223		$	4,192,290
Intersegment sales			(10,430)			(7,262)			(17,692)
Net sales			2,999,637			1,174,961			4,174,598
Cost of sales			2,157,556			781,008			2,938,564
Gross profit			842,081			393,953			1,236,034
Selling, general, and administrative expenses (a)			424,997			230,729			655,726
Impairment of long-lived assets			3,571			137,273			140,844
Realignment charges			17,260			9,101			26,361
Segment operating income		$	396,253		$	16,850			413,103
Unallocated corporate expenses									112,697
Corporate realignment charges									8,849
Total operating income								$	291,557

(a)


		Fiscal year ended December 27, 2025
		Infrastructure			Agriculture			Intersegment			Consolidated
Geographical market:
North America		$	2,515,602		$	506,316		$	(15,543)		$	3,006,375
International			583,432			514,434			(139)			1,097,727
Total sales		$	3,099,034		$	1,020,750		$	(15,682)		$	4,104,102

Product line:
Utility		$	1,511,053		$	—		$	—		$	1,511,053
Lighting and Transportation			830,268			—			—			830,268
Coatings			362,209			—			(9,163)			353,046
Telecommunications			313,882			—			—			313,882
Solar			81,622			—			(139)			81,483
Irrigation Equipment and Parts			—			926,276			(6,380)			919,896
Technology Products and Services			—			94,474			—			94,474
Total sales		$	3,099,034		$	1,020,750		$	(15,682)		$	4,104,102


		Fiscal year ended December 28, 2024
		Infrastructure			Agriculture			Intersegment			Consolidated
Geographical market:
North America		$	2,348,250		$	570,517		$	(17,045)		$	2,901,722
International			660,326			513,191			(205)			1,173,312
Total sales		$	3,008,576		$	1,083,708		$	(17,250)		$	4,075,034

Product line:
Utility		$	1,368,333		$	—		$	—		$	1,368,333
Lighting and Transportation			884,128			—			—			884,128
Coatings			353,739			—			(9,992)			343,747
Telecommunications			250,770			—			—			250,770
Solar			151,606			—			(203)			151,403
Irrigation Equipment and Parts			—			985,840			(7,055)			978,785
Technology Products and Services			—			97,868			—			97,868
Total sales		$	3,008,576		$	1,083,708		$	(17,250)		$	4,075,034


		Fiscal year ended December 30, 2023
		Infrastructure			Agriculture			Intersegment			Consolidated
Geographical market:
North America		$	2,318,801		$	587,056		$	(16,282)		$	2,889,575
International			691,266			595,167			(1,410)			1,285,023
Total sales		$	3,010,067		$	1,182,223		$	(17,692)		$	4,174,598

Product line:
Utility		$	1,291,670		$	—		$	—		$	1,291,670
Lighting and Transportation			916,170			—			—			916,170
Coatings			354,330			—			(9,020)			345,310
Telecommunications			252,165			—			—			252,165
Solar			195,732			—			(1,410)			194,322
Irrigation Equipment and Parts			—			1,069,425			(7,262)			1,062,163
Technology Products and Services			—			112,798			—			112,798
Total sales		$	3,010,067		$	1,182,223		$	(17,692)		$	4,174,598


		December 27,			December 28,
		2025			2024
ASSETS:
Infrastructure		$	2,312,500		$	2,181,345
Agriculture			768,715			876,486
Total segment assets			3,081,215			3,057,831
Unallocated corporate assets			288,114			272,141
Total assets		$	3,369,329		$	3,329,972


	Fiscal Year Ended
	December 27,			December 28,			December 30,
	2025			2024			2023
CAPITAL EXPENDITURES:
Infrastructure	$	130,041		$	65,017		$	68,295
Agriculture		11,264			11,537			10,890
Total segment capital expenditures		141,305			76,554			79,185
Unallocated corporate capital expenditures		3,730			2,897			17,586
Total capital expenditures	$	145,035		$	79,451		$	96,771


	Fiscal Year Ended
	December 27,			December 28,			December 30,
	2025			2024			2023
DEPRECIATION AND AMORTIZATION:
Infrastructure	$	65,127		$	65,717		$	64,654
Agriculture		15,304			20,606			23,409
Total segment depreciation and amortization expense		80,431			86,323			88,063
Unallocated corporate depreciation and amortization expense		8,078			9,072			10,645
Total depreciation and amortization expense	$	88,509		$	95,395		$	98,708

Summary by Geographical Area by Location of Valmont Facilities


		Fiscal Year Ended
		December 27,			December 28,			December 30,
		2025			2024			2023
NET SALES:
United States		$	2,957,136		$	2,856,033		$	2,860,951
Australia			282,257			310,096			313,075
Brazil			159,127			200,946			311,367
Other			705,582			707,959			689,205
Total net sales		$	4,104,102		$	4,075,034		$	4,174,598


		December 27,			December 28,
		2025			2024
LONG-LIVED ASSETS:
United States		$	1,132,303		$	1,117,631
Australia			105,400			89,415
Other			411,978			439,534
Total long-lived assets		$	1,649,681		$	1,646,580

No single customer accounted for more than 10% of net sales in fiscal 2025, 2024, or 2023. Geographical net sales are based on the location of the facility generating them and excludes sales to other operating units within the Company. In fiscal 2025, Australia contributed approximately 7% of the Company’s net sales, Brazil contributed approximately 4%, and no other foreign country accounted more than 4%.

Operating income by business segment is calculated as net sales minus identifiable operating expenses and allocations, and it includes profits from sales to other operating units of the Company. Long-lived assets include property, plant, and equipment (net of depreciation), goodwill, other intangible assets (net of amortization), and other non-current assets. Long-lived assets by geographical area are based on the location of the facilities.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES - Reconciliation of taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Amount
U.S. federal statutory income tax rate	$ 79,305
State and local income taxes, net of federal income tax effect	$ 8,141
Effective Income Tax Rate Reconciliation, State and Local Jurisdiction, Contribution Greater than 50 Percent, Tax Effect [Extensible Enumeration]	stpr:AL, stpr:CA, stpr:GA, stpr:IA, stpr:IL, stpr:LA, stpr:MD, stpr:PA, stpr:TX
Tax credits	$ 7,236
Nontaxable or nondeductible items	1,559
Effect of cross-border tax laws:
Deduction for worthless securities	(66,094)
Other	2,878
Changes in valuation allowances	(13,119)
Changes in unrecognized tax benefits	(1,330)
Total income tax expense	$ 23,864	$ 117,978	$ 90,121
Tax Jurisdiction of Domicile [Extensible Enumeration]	United States
Percent
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
State and local income taxes, net of federal income tax effect	2.20%	2.20%	1.80%
Tax credits	1.90%
Nontaxable or nondeductible items	0.40%
Effect of cross-border tax laws:
Deduction for worthless securities	(17.50%)
Other	0.70%
Changes in valuation allowances	(3.50%)
Goodwill impairment		0.00%	11.90%
Foreign jurisdictional tax rate differences		1.50%	4.60%
Changes in unrecognized tax benefits	(0.40%)	(0.30%)	0.80%
Other adjustments		1.90%	(0.70%)
Effective tax rate	6.30%	25.20%	38.10%
United States
Effect of cross-border tax laws:
Other adjustments	$ 1,367
Effect of cross-border tax laws:
Other adjustments	0.30%
Australia
Effect of cross-border tax laws:
Goodwill impairment	$ 6,900
Other adjustments	$ 2,480
Effect of cross-border tax laws:
Goodwill impairment	1.80%
Other adjustments	0.70%
Brazil
Effect of cross-border tax laws:
Foreign jurisdictional tax rate differences	$ (7,610)
Other adjustments	$ 3,750
Effect of cross-border tax laws:
Foreign jurisdictional tax rate differences	(2.00%)
Other adjustments	1.00%
ITALY
Effect of cross-border tax laws:
Goodwill impairment	$ 10,054
Other adjustments	$ (125)
Effect of cross-border tax laws:
Goodwill impairment	2.70%
Other adjustments	0.00%
Other
Effect of cross-border tax laws:
Foreign jurisdictional tax rate differences	$ 2,944
Effect of cross-border tax laws:
Foreign jurisdictional tax rate differences	0.80%

STOCK- BASED COMPENSATION -Schedule of Performance Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Stock Based Compensation
Stock-based compensation	$ 24,308	$ 29,869	$ 39,219
Performance Stock Units
Stock Based Compensation
Vesting period of performance-based stock units	3 years
Shares granted	28,238	34,665	38,201
Weightedaverage per share price on grant date	$ 305.16	$ 234.52	$ 299.2
Total intrinsic value	$ 27,347	$ 21,577	$ 24,605
Stock-based compensation	$ 8,959	$ 10,476	$ 13,054
Performance Stock Units \| Minimum
Stock Based Compensation
Performance target (percent)	0.00%
Performance Stock Units \| Maximum
Stock Based Compensation
Performance target (percent)	200.00%

REALIGNMENT ACTIVITIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Cost of Goods and Services Sold	$ 2,864,166	$ 2,833,822	$ 2,938,564
Cost, Product and Service [Extensible Enumeration]	Product [Member]
Realignment activities
Restructuring Cost and Reserve [Line Items]
Pre-tax cash charges	$ 16,066
Cost of Goods and Services Sold	676
Severance and other employee benefit costs
Restructuring Cost and Reserve [Line Items]
Pre-tax cash charges	11,267
Contract/lease termination
Restructuring Cost and Reserve [Line Items]
Pre-tax cash charges	1,324
Purchase commitment losses
Restructuring Cost and Reserve [Line Items]
Pre-tax cash charges	$ 3,475
Maximum \| Voluntary early retirement program and other headcount reduction actions \| Realignment activities
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost				$ 36,000

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 27, 2025

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

(17) COMMITMENTS AND CONTINGENCIES

The Company and certain of its subsidiaries are subject to various legal proceedings, claims, and assessments arising in the normal course of business. It is difficult for the Company to fully assess the potential impact of both asserted and unasserted claims on its consolidated results of operations, financial condition, or liquidity. The Company records accruals for loss contingencies when such losses are considered probable and reasonably estimable.

The Company is involved in several litigation matters in Brazil related to its operations in the Agriculture market. During the fourth quarter of fiscal 2025, the Company received an unfavorable ruling in the Brazilian appellate court system, which required management to reassess its loss contingency under ASC 450. The Company is currently awaiting a motion for clarification related to the appellate court ruling, which is expected to be received in the first half of fiscal 2026. Following receipt of the clarification, the Company will evaluate available legal options, which may include pursuing a settlement or further appeals within the Brazilian court system.

As of December 27, 2025, the Company has accrued, in aggregate, approximately $24,165 related to the above matters, which is included in “Other accrued expenses” in the Consolidated Balance Sheets. The accrual reflects management’s best estimate of losses based on presently available information. The outcome of these matters cannot be predicted with certainty, and the final resolution could differ from the amount accrued. It is possible that the Company comes to a settlement agreement for an amount less than accrued and it is also possible that the motion of clarification results in incremental losses incurred by the Company. As such, the Company estimates that the ultimate resolution may adversely affect selling, general, and administrative expenses by up to an additional $10,000 in a future fiscal period, although no losses beyond the amount accrued are deemed probable at this time.

The Company continuously monitors developments in this matter and other legal proceedings and will adjust its accruals if and when additional information becomes available or circumstances change.

Subsequent to the fourth quarter of fiscal 2025, in February 2026, the Company received an inquiry from U.S. Customs and Border Protection (“CBP”) related to the valuation methodology applied to steel tariffs from Mexico into the U.S. The inquiry is ongoing and there has been no final determination as of the date of issuance of these Consolidated Financial Statements. Based on management’s assessment of the facts and circumstances currently available, including the Company’s understanding of current CBP guidance, management does not believe a loss is probable or reasonably estimable as of December 27, 2025, and accordingly no accrual has been recorded.

At this time, the Company does not expect that any known lawsuits, claims, environmental costs, commitments, or contingent liabilities will have a material adverse effect on its consolidated results of operations, financial condition, or liquidity.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Cash flows from operating activities:
Net earnings	$ 353,688	$ 350,624	$ 144,912
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization	88,509	95,395	98,708
Contribution to defined benefit pension plan	(3,159)	(19,599)	(17,345)
Impairment of long-lived assets	91,337		140,844
Loss (gain) on divestitures		4,474	(2,994)
Stock-based compensation	24,308	29,869	39,219
Net periodic pension cost	1,052	640	249
Loss (gain) on sale of property, plant, and equipment	(545)	7,619	973
Equity method investment loss	90	79	1,419
Deferred income taxes	(19,196)	(24,655)	(18,649)
Other, net	2,824
Changes in assets and liabilities:
Receivables	82,466	(29,474)	(46,308)
Inventories	39,442	45,643	88,433
Contract assets	(79,804)	(11,844)	(1,230)
Prepaid expenses and other assets (current and non-current)	21,850	613	(26,161)
Accounts payable	(26,334)	24,801	(10,529)
Contract liabilities (current and non-current)	(80,504)	63,682	(106,884)
Accrued expenses	3,558	8,205	22,591
Current income taxes	(43,019)	18,827	13,746
Other non-current liabilities	(79)	7,779	(14,219)
Net cash flows from operating activities	456,484	572,678	306,775
Cash flows from investing activities:
Purchases of property, plant, and equipment	(145,035)	(79,451)	(96,771)
Proceeds from divestitures, net of cash divested		3,830	6,369
Proceeds from sales of assets	2,176	643	1,710
Proceeds from property damage insurance claims	1,408		7,468
Acquisitions, net of cash acquired			(32,676)
Other, net	(1,288)	(3,900)	(1,381)
Net cash flows from investing activities	(142,739)	(78,878)	(115,281)
Cash flows from financing activities:
Proceeds from short-term borrowings	2,840	15,041	30,785
Repayments on short-term borrowings	(4,492)	(16,526)	(34,083)
Proceeds from long-term borrowings	215,785	30,009	370,012
Principal repayments on long-term borrowings	(151,563)	(408,080)	(134,748)
Proceeds from settlement of financial derivatives		2,711
Dividends paid	(52,481)	(48,358)	(49,515)
Dividends to redeemable noncontrolling interests	(698)	(664)	(662)
Purchases of redeemable noncontrolling interests	(101,771)	(17,745)
Repurchases of common stock	(198,089)	(70,069)	(345,279)
Proceeds from exercises under stock plans	6,354	6,632	5,841
Tax withholdings on exercises under stock plans	(12,896)	(13,075)	(18,756)
Other, net	(1,851)	(2,436)
Net cash flows from financing activities	(298,862)	(522,560)	(176,405)
Effect of exchange rate changes on cash and cash equivalents	7,942	(9,966)	2,546
Net change in cash and cash equivalents	22,825	(38,726)	17,635
Cash and cash equivalents-beginning of period	164,315	203,041	185,406
Cash and cash equivalents-end of period	187,140	164,315	203,041
Supplemental disclosures of cash flow information:
Interest paid	38,997	57,709	55,541
Income taxes paid	$ 84,228	$ 125,548	$ 103,697

COMMITMENTS AND CONTINGENCIES (Details) - Brazilian case $ in Thousands	12 Months Ended
	Dec. 27, 2025 USD ($)
Loss Contingencies [Line Items]
Accrued amount	$ 24,165
Loss Contingency, Balance Sheet Caption	Other accrued expenses
Additional amount in future fiscal period	$ 10,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
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-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Topic 450
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 4,104,102	$ 4,075,034	$ 4,174,598
Contract assets	266,922	187,257
Total contract liabilities	52,475	130,696
Contract liabilities	52,013	126,932
Revenue recognized from contract liability	124,246	53,819
Remaining performance obligation	$ 462
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction	12 months
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction	24 months
Contract Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 52,013	126,932
Other Noncurrent Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, noncurrent	462	3,764
Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	3,089,732	2,998,381	2,999,637
Agriculture
Disaggregation of Revenue [Line Items]
Net sales	1,014,370	1,076,653	1,174,961
Point in Time
Disaggregation of Revenue [Line Items]
Net sales	2,591,380	2,700,315	2,888,772
Point in Time \| Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	1,612,552	1,656,355	1,744,139
Point in Time \| Agriculture
Disaggregation of Revenue [Line Items]
Net sales	978,828	1,043,960	1,144,633
Over Time
Disaggregation of Revenue [Line Items]
Net sales	1,512,722	1,374,719	1,285,826
Over Time \| Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	1,477,180	1,342,026	1,255,498
Over Time \| Agriculture
Disaggregation of Revenue [Line Items]
Net sales	$ 35,542	$ 32,693	$ 30,328

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 27, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy Our information security program covers a wide range of cybersecurity activities, with the primary objective of maintaining the confidentiality, integrity, and availability of information for both our business and customers. The program and our systems are designed to identify and mitigate information security risks and data privacy breaches. Our risk mitigation processes include a cybersecurity incident response plan, which is regularly exercised through tabletop exercises, security awareness training with attack simulations to reinforce the training, cybersecurity risk assessments integrated with technology acquisition processes, and the utilization of third-party partnerships for threat intelligence, incident response and escalation, and attack surface monitoring. We measure our security performance using the International Organization for Standardization 27001 Framework and Enterprise Risk Management strategies. We implement policies and practices to mitigate risks to organizational data and operational processes. Our Global Data Privacy Program continues to align with environmental, social, and corporate governance standards, taking into account both the risks and benefits of privacy-driven spending. The program’s operating model is based on the General Data Protection Regulation, adjusted to meet specific local requirements. This scalable model manages strategic, operational, legal, compliance, and financial risks and benefits, and utilizes technology to automate portions of the program, such as data subject access requests and consent and preference management. Our membership in the Data Privacy Board, a group comprised of some of the world’s largest companies with the mission of engaging in confidential, leader-level discussions, offers opportunities for unbiased benchmarking and support from peers across various industries. We continue to build privacy resilience across international operating environments. We collaborate with third-party vendors to enhance our processes against unauthorized access to our network, computers, programs, and data. Risk is inherent in risk management and cybersecurity strategy. Successful cyberattacks or other security incidents could result in the loss of key innovations, such as artificial intelligence or Internet of Things technologies; loss of access to critical data or systems through ransomware, crypto mining, or destructive attacks; and business delays or service disruptions. See “Our operations could be adversely affected if our information technology systems and networks are compromised or subjected to cyberattacks” under Risk Factors in Part I, Item 1A of this report, which we incorporate here by reference. To date, we have not identified any cybersecurity incidents that have materially affected, or are reasonably likely to materially affect, our business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our information security program covers a wide range of cybersecurity activities, with the primary objective of maintaining the confidentiality, integrity, and availability of information for both our business and customers. The program and our systems are designed to identify and mitigate information security risks and data privacy breaches. Our risk mitigation processes include a cybersecurity incident response plan, which is regularly exercised through tabletop exercises, security awareness training with attack simulations to reinforce the training, cybersecurity risk assessments integrated with technology acquisition processes, and the utilization of third-party partnerships for threat intelligence, incident response and escalation, and attack surface monitoring. We measure our security performance using the International Organization for Standardization 27001 Framework and Enterprise Risk Management strategies. We implement policies and practices to mitigate risks to organizational data and operational processes. Our Global Data Privacy Program continues to align with environmental, social, and corporate governance standards, taking into account both the risks and benefits of privacy-driven spending. The program’s operating model is based on the General Data Protection Regulation, adjusted to meet specific local requirements. This scalable model manages strategic, operational, legal, compliance, and financial risks and benefits, and utilizes technology to automate portions of the program, such as data subject access requests and consent and preference management. Our membership in the Data Privacy Board, a group comprised of some of the world’s largest companies with the mission of engaging in confidential, leader-level discussions, offers opportunities for unbiased benchmarking and support from peers across various industries. We continue to build privacy resilience across international operating environments.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board of Directors has oversight responsibility for cyber risks affecting the Company. The Board has delegated risk oversight of operational, compliance, and financial matters, including cybersecurity and information technology risk, to the Audit Committee.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Audit Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors has oversight responsibility for cyber risks affecting the Company. The Board has delegated risk oversight of operational, compliance, and financial matters, including cybersecurity and information technology risk, to the Audit Committee.
Cybersecurity Risk Role of Management [Text Block]	Our Chief Information Officer has extensive experience implementing and managing cybersecurity policies, including overseeing investments in tools, resources, and processes that enables the continued maturity of our cybersecurity program. Team members supporting our information security program possess relevant educational backgrounds and industry experience. Our Chief Executive Officer, Chief Financial Officer, and Audit Committee receive regular reports from our Chief Information Officer on the Company’s risk and compliance with cybersecurity matters, including data privacy, incidents, industry trends, and the prevention, detection, mitigation, and remediation of cyber incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Chief Executive Officer, Chief Financial Officer, and Audit Committee
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Chief Information Officer has extensive experience implementing and managing cybersecurity policies, including overseeing investments in tools, resources, and processes that enables the continued maturity of our cybersecurity program. Team members supporting our information security program possess relevant educational backgrounds and industry experience.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our risk mitigation processes include a cybersecurity incident response plan, which is regularly exercised through tabletop exercises, security awareness training with attack simulations to reinforce the training, cybersecurity risk assessments integrated with technology acquisition processes, and the utilization of third-party partnerships for threat intelligence, incident response and escalation, and attack surface monitoring.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling Interest (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 28, 2025	Dec. 27, 2025	Dec. 28, 2024	Dec. 30, 2023
Accounting Policies [Line Items]
Change in redemption value of redeemable noncontrolling interests	$ (26,243)	$ (15,489)		$ (7,374)
Redeemable noncontrolling interests		$ 9,498	$ 51,519
Diluted loss per share, correction		$ 16.79	$ 17.19	$ 6.78
Revision of Prior Period, Error Correction, Adjustment [Member]
Accounting Policies [Line Items]
Redeemable noncontrolling interests	$ 21,792
Diluted loss per share, correction	$ 1.1	$ 1.09

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 27, 2025	Feb. 20, 2026	Jun. 28, 2025
Document And Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 27, 2025
Current Fiscal Year End Date	--12-27
Document Transition Report	false
Entity File Number	001-31429
Entity Registrant Name	Valmont Industries, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0351813
Entity Address, Address Line One	15000 Valmont Plaza,
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68154
City Area Code	402
Local Phone Number	963-1000
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	VMI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Shell Company	false
Entity Public Float			$ 6,424,049,320
Entity Common Stock, Shares Outstanding		19,535,262
Documents Incorporated by Reference	Portions of the Registrant’s proxy statement for its annual meeting of shareholders to be held on April 27, 2026 (the “Proxy Statement”), to be filed within 120 days of the fiscal year ended December 27, 2025, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000102729
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Omaha, Nebraska
Auditor Firm ID	34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 27, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Use of Estimates

Fiscal Year

Cash Book Overdrafts

Receivables

The following table provides details of the balances of the allowance for credit losses and changes therein:


					Charged to			Currency			Deductions
		Beginning			Profit and			Translation			from			Ending
Fiscal year ended:		Period Balance			Loss			Adjustment			Reserves			Period Balance
December 27, 2025		$	30,408		$	40,009		$	4,361		$	(19,787)		$	54,991
December 28, 2024			32,897			5,133			(3,190)			(4,432)			30,408
December 30, 2023			20,890			17,657			911			(6,561)			32,897

Inventories

Long-Lived Assets

●

Buildings and improvements: 10 to 30 years

●

Machinery and equipment: 3 to 15 years

●

Transportation equipment: 5 to 10 years

●

Office furniture and equipment: 3 to 7 years

●

Intangible assets: 2 to 20 years

Income Taxes

Warranties

Accumulated Other Comprehensive Income (Loss)


	December 27,			December 28,
	2025			2024
Foreign currency translation adjustments	$	(248,741)		$	(306,159)
Hedging activities		15,405			21,350
Defined benefit pension plan		(57,179)			(47,966)
Accumulated other comprehensive loss	$	(290,515)		$	(332,775)

Revenue Recognition

●

Segment and Product Line Revenue Recognition

Infrastructure Segment

Revenue from Solar product line structures is recognized at a point in time, generally upon shipment or delivery, depending on contract terms.

Revenue from Coatings product line services, including galvanizing and powder coating, is recognized upon completion of the service and when goods are available for pickup or delivery.

Agriculture Segment

Over Time and Point in Time Revenue


	Fiscal Year Ended
	December 27, 2025				December 28, 2024				December 30, 2023
	Point in Time		Over Time		Point in Time		Over Time		Point in Time		Over Time
Infrastructure	$	1,612,552	$	1,477,180	$	1,656,355	$	1,342,026	$	1,744,139	$	1,255,498
Agriculture		978,828		35,542		1,043,960		32,693		1,144,633		30,328
Total net sales	$	2,591,380	$	1,512,722	$	2,700,315	$	1,374,719	$	2,888,772	$	1,285,826

Equity Method Investments

The Company has equity method investments in non-consolidated subsidiaries, which are recorded as “Other non-current assets” in the Consolidated Balance Sheets.

Treasury Stock

Research and Development

Supplier Finance Program


	December 27,			December 28,
	2025			2024
Confirmed obligations outstanding—beginning of period	$	45,602		$	41,916
Invoices confirmed		275,948			216,731
Confirmed invoices paid		(265,226)			(213,045)
Confirmed obligations outstanding—end of period	$	56,324		$	45,602

Redeemable Noncontrolling Interests

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

DERIVATIVE FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 27, 2025

DERIVATIVE FINANCIAL INSTRUMENTS

DERIVATIVE FINANCIAL INSTRUMENTS

(15) DERIVATIVE FINANCIAL INSTRUMENTS

The Company manages risks related to interest rates, commodity prices, and foreign currency, particularly those arising from foreign currency denominated transactions and investments in foreign subsidiaries. To address these risks, the Company may use derivative financial instruments. Depending on their classification, some derivatives are marked to market and recorded in the Company’s Consolidated Statements of Earnings, while others are accounted for as fair value, cash flow, or net investment hedges.

Derivative financial instruments inherently carry credit and market risks, which the Company mitigates by monitoring exposure limits and transacting with recognized, stable multinational banks as counterparties. Gains or losses from net investment hedge activities remain in AOCI until the related subsidiaries are sold or substantially liquidated.

The fair value of derivative instruments as of December 27, 2025 and December 28, 2024 was as follows:


		Consolidated	December 27,		December 28,
Derivatives designated as hedging instruments:		Balance Sheets location	2025		2024
Commodity contracts		Prepaid expenses and other current assets	$	1,590	$	617
Commodity contracts		Other accrued expenses		—		(371)
Cross-currency swap contracts		Prepaid expenses and other current assets		6		1,074
Cross-currency swap contracts		Other accrued expenses		(8,100)		—
			$	(6,504)	$	1,320

Gains (losses) on derivatives recognized in the Consolidated Statements of Earnings for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows:


		Consolidated	Fiscal Year Ended
Derivatives designated		Statements of	December 27,		December 28,		December 30,
as hedging instruments:		Earnings location	2025		2024		2023
Commodity contracts		Product cost of sales	$	266	$	(3,007)	$	(7,057)
Foreign currency forward contracts		Other income (expenses)		—		—		177
Interest rate hedge amortization		Interest expense		(64)		(64)		(64)
Cross-currency swap contracts		Interest expense		1,463		1,246		1,813
			$	1,665	$	(1,825)	$	(5,131)

Cash Flow Hedges

The Company enters into commodity forward, swap, and option contracts to hedge variability in cash flows related to future purchases. Gains (losses) realized upon settlement are recorded in “Product cost of sales” in the Consolidated Statements of Earnings in the period in which the hedged items are consumed. As of December 27, 2025, the details of these contracts were as follows:


		Notional		Total
Commodity Type		Amount		Purchase Quantity	Maturity Dates
Hot-rolled coil steel		$	6,226	7,250 short tons	December 2025
Natural gas			809	210,000 MMBtu	January 2026 to December 2026
Ultra-low-sulfur diesel fuel			8,289	4,032,000 gallons	December 2025 to June 2027
Zinc			8,808	2,880 metric tons	January 2026 to December 2027

Net Investment Hedges

To manage foreign currency risk associated with its foreign currency investments and reduce interest expenses, the Company uses fixed-for-fixed cross-currency swaps (“CCS”). These swaps convert U.S. dollar principal and interest payments on a portion of its 5.00% senior unsecured notes due in fiscal 2044 into foreign-currency-denominated payments. Interest payments are exchanged biannually on April 1 and October 1.

The Company designated the full notional amounts of its CCS as net investment hedges for certain subsidiaries under the spot method. Changes in fair value of the CCS attributable to spot exchange rates are recorded as cumulative foreign currency translation within AOCI, while net interest receipts reduce interest expense over the life of the CCS. Key terms as of December 27, 2025 were as follows:


		Notional			Swapped	Settlement
Currency		Amount		Termination Date	Interest Rate	Amount
Canadian dollar		$	40,000	October 1, 2028	4.0900%	C$	54,776
Chinese yuan		$	30,000	October 1, 2032	3.1125%	¥	215,640
Euro		$	80,000	April 1, 2029	3.4610%	€	74,509

In the first quarter of fiscal 2024, the Company early settled a euro net investment hedge entered in fiscal 2019, receiving proceeds of $2,711. These proceeds will remain in AOCI until the related subsidiaries are sold or substantially liquidated.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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+ Details