Lindsay Corporation (LNN)

Lindsay shares rise after third-quarter earnings beat expectations despite revenue miss (LNN)July 2, 2026 8:34 AM
IH Market News Profit tops forecasts as infrastructure business provides support Lindsay Corporation (NYSE:LNN) shares gained 2.42% in premarket trading on Thursday after the irrigation and infrastructure equipment manufacturer reported fiscal third-quarter earnings that exceeded Wall Street expectations, although revenue came in slightly below forecasts. For the quarter ended 31 May 2026, the company posted adjusted earnings per share of $1.53, surpassing the analyst consensus estimate of $1.35. Revenue totaled $160.8 million, below the expected $162.2 million and down 5% from $169.5 million in the same period last year. Net income declined 19% year over year to $15.8 million from $19.5 million. Irrigation sales remain under pressure The weaker top-line performance reflected ongoing softness in the irrigation business, where revenue fell 7% to $133.0 million. Sales in North America declined 11% to $61.3 million as elevated input costs continued to weigh on customer demand, while international irrigation revenue slipped 4% to $71.7 million, largely due to challenging market conditions in Brazil. By contrast, the infrastructure segment delivered an 8% increase in revenue to $27.7 million, supported by stronger demand for road safety products. MENA project continues on schedule “Deliveries for the large irrigation project in the Middle East North Africa (MENA) region remain on schedule despite continued geopolitical challenges,” said Randy Wood, President and Chief Executive Officer. “In North America, demand for irrigation equipment remains tempered as margin pressure from high input costs continues to impact customer sentiment.” Margins narrow as costs remain elevated Lindsay reported an operating margin of 11.5%, down from 14.0% a year earlier, as lower sales volumes, higher input costs and reduced operating leverage affected profitability. During the quarter, the company repurchased $25.2 million of its own shares, increasing total share buybacks for the fiscal year to $80.7 million. Backlog expands on major irrigation contract Lindsay ended the quarter with a backlog of $136.1 million, compared with $117.1 million a year earlier, largely driven by the major MENA irrigation project. The company expects approximately $70 million of revenue from that project to be recognised during the current fiscal year. Lindsay stock priceThe post Lindsay shares rise after third-quarter earnings beat expectations despite revenue miss (LNN) appeared first on US Editors. Original: Lindsay shares rise after third-quarter earnings beat expectations despite revenue miss (LNN)

Lindsay Corporation Reports Fiscal 2026 Third Quarter ResultsJuly 2, 2026 6:45 AM
Business Wire Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its third quarter of fiscal 2026, which ended on May 31, 2026. Key Highlights: International irrigation project in the Middle East North Africa (MENA) region remains on schedule Infrastructure revenues increased 8 percent, driven by another consecutive quarter of growth in road safety products Irrigation revenues decreased 7 percent as challenging market conditions in North America and Brazil persist Net earnings of $15.8 million and $1.53 of diluted earnings per share Completed $25.2 million of share repurchases during the quarter, bringing total repurchases to $80.7 million for the fiscal year “Deliveries for the large irrigation project in the Middle East North Africa (MENA) region remain on schedule despite continued geopolitical challenges," said Randy Wood, President and Chief Executive Officer. "In North America, demand for irrigation equipment remains tempered as margin pressure from high input costs continues to impact customer sentiment. In Brazil, demand continued to be impacted by low profitability and limited credit availability. As we enter road construction season in the northern hemisphere, our road safety products business delivered another consecutive quarter of growth." Wood continued, "I am pleased with the resiliency and performance of our teams around the world, as we demonstrate our ability to deliver on project opportunities despite a volatile macro-economic environment." Third Quarter Summary Consolidated Financial Summary   Third Quarter (dollars in millions, except per share amounts)   FY2026   FY2025   $ Change   % Change                   Total revenues   $160.8   $169.5   ($8.7)   (5%) Operating income   $18.5   $23.8   ($5.3)   (22%) Operating margin   11.5%   14.0%         Net earnings   $15.8   $19.5   ($3.7)   (19%) Diluted earnings per share   $1.53   $1.78   ($0.25)   (14%) Revenues for the third quarter of fiscal 2026 were $160.8 million, a decrease of $8.7 million, or 5 percent, compared to $169.5 million in the prior year. The increase in infrastructure revenues was more than offset by the decrease in irrigation revenues compared to the prior year. Operating income for the third quarter of fiscal 2026 was $18.5 million, a decrease of $5.3 million, or 22 percent, compared to $23.8 million in the prior year. Lower operating income in both the irrigation and infrastructure segments was partially offset by a reduction in corporate expense. Operating margin was 11.5 percent of sales, compared to 14.0 percent of sales in the prior year. Net earnings for the third quarter of 2026 were $15.8 million, or $1.53 per diluted share, compared to $19.5 million, or $1.78 per diluted share, in the prior year. Net earnings were impacted by lower operating income, which was partially offset by a lower effective tax rate and an increase in other income. Third Quarter Segment Results Irrigation Segment   Third Quarter (dollars in millions)   FY2026   FY2025   $ Change   % Change Revenues:                 North America   $61.3   $69.1   ($7.7)   (11%) International   $71.7   $74.7   ($3.0)   (4%) Total revenues   $133.0   $143.7   ($10.7)   (7%) Operating income   $20.3   $27.2   ($6.8)   (25%) Operating margin   15.3%   18.9%         Irrigation segment revenues for the third quarter of fiscal 2026 were $133.0 million, a decrease of $10.7 million, or 7 percent, compared to $143.7 million in the prior year. North America irrigation revenues of $61.3 million decreased $7.7 million, or 11 percent, compared to the prior year. The decrease in revenues resulted primarily from lower unit sales volume and was partially offset by higher average selling prices compared to the prior year. Persistent weakness in commodity markets and tempered farmer sentiment continue to constrain demand for irrigation equipment in North America. International irrigation revenues for the third quarter of fiscal 2026 of $71.7 million decreased $3.0 million, or 4 percent, compared to the prior year. The decrease resulted primarily from lower sales volumes in Brazil, which were partially offset by growth in other regions. Revenues in the current year quarter were favorably impacted by the effects of foreign currency translation of approximately $3.9 million compared to the prior year. Irrigation segment operating income for the third quarter of fiscal 2026 was $20.3 million, a decrease of $6.8 million, or 25 percent, compared to the prior year. Operating margin was 15.3 percent of sales, compared to 18.9 percent of sales in the prior year. The decrease in operating income resulted primarily from lower unit sales volume, increases in input costs, and the impact of fixed cost deleverage compared to the prior year. Infrastructure Segment   Third Quarter (dollars in millions)   FY2026   FY2025   $ Change   % Change                   Total revenues   $27.7   $25.7   $2.0   8% Operating income   $5.4   $5.4   —   — Operating margin   19.5%   21.1%         Infrastructure segment revenues for the third quarter of fiscal 2026 were $27.7 million, an increase of $2.0 million, or 8 percent, compared to $25.7 million in the prior year. The increase was driven by higher road safety product revenues, comparable Road Zipper lease revenues, both of which were partially offset by lower Road Zipper System revenues compared to the prior year. Infrastructure segment operating income for the third quarter of fiscal 2026 was $5.4 million, which was comparable to the prior year. Operating margin was 19.5 percent of sales, compared to 21.1 percent of sales in the prior year. The decrease in operating margin resulted primarily from an unfavorable mix of lower Road Zipper System project revenues compared to the prior year. The backlog of unfulfilled orders at May 31, 2026 was $136.1 million compared with $117.1 million at May 31, 2025. Included in these backlogs are amounts of $20.1 million and $12.3 million, respectively, for orders that are not expected to be fulfilled within the subsequent 12 months. The backlog in irrigation increased as a result of the large irrigation project in the MENA region, while the backlog in infrastructure decreased compared to the prior year. Outlook Mr. Wood concluded, “In the U.S., irrigation market conditions remain soft as growers await further trade certainty and an improvement in commodity prices. We expect Brazil to return to growth due to the solid drivers of secular demand that support investments in irrigation, although credit constraints and high interest rates could remain a headwind. We will continue delivery of the irrigation project in the MENA region and we expect to recognize approximately $70 million of revenue for the project in our current fiscal year. We will take further actions to align our cost structure with current demand levels to protect margins and support future earnings as demand rebounds." “In infrastructure, we anticipate continued growth in road safety products and while we continue to actively manage a robust pipeline of Road Zipper System projects, we do not expect to deliver a large project in fiscal 2026.” Third Quarter Conference Call Lindsay’s fiscal 2026 third quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (833) 535-2202 in the U.S., or (412) 902-6745 internationally, and requesting the Lindsay Corporation call. Additionally, the conference call will be simulcast live on the internet and can be accessed via the investor relations section of the Company's website, www.lindsay.com. Replays of the conference call will remain on our website through the next quarterly earnings release. The Company will have a slide presentation available to augment management's formal presentation, which will also be accessible via the Company's website. About the Company Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com. Concerning Forward-looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” "expect," "outlook," "could," "may," "should," “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release. LINDSAY CORPORATION AND SUBSIDIARIES   CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS   (Unaudited)                                 Three months ended     Nine months ended   (in thousands, except per share amounts)     May 31,
2026       May 31,
2025       May 31,
2026       May 31,
2025                                     Operating revenues   $   160,764     $   169,464     $   474,297     $   522,809   Cost of operating revenues       112,932         115,842         334,014         356,734   Gross profit       47,832         53,622         140,283         166,075                                     Operating expenses:                                 Selling expense       10,320         10,217         31,856         31,278   General and administrative expense       14,349         14,903         43,929         45,263   Engineering and research expense       4,650         4,709         13,366         12,735   Total operating expenses       29,319         29,829         89,151         89,276                                     Operating income       18,513         23,793         51,132         76,799                                     Other income:                                 Interest income, net       2,315         1,897         7,618         3,832   Other (expense) income, net       (250 )       24         (719 )       330   Total other income       2,065         1,921         6,899         4,162                                     Earnings before income taxes       20,578         25,714         58,031         80,961                                     Income tax expense       4,758         6,214         13,642         17,722                                     Net earnings   $   15,820     $   19,500     $   44,389     $   63,239                                     Earnings per share:                                 Basic   $   1.54     $   1.80     $   4.24     $   5.82   Diluted   $   1.53     $   1.78     $   4.22     $   5.79                                     Shares used in computing earnings per share:                                 Basic       10,299         10,862         10,474         10,860   Diluted       10,341         10,931         10,509         10,915                                     Cash dividends declared per share   $   0.37     $   0.36     $   1.11     $   1.08   LINDSAY CORPORATION AND SUBSIDIARIES   SUMMARY OPERATING RESULTS   (Unaudited)                                         Three months ended       Nine months ended   (in thousands)     May 31,
2026       May 31,
2025       May 31,
2026       May 31,
2025   Operating revenues:                                 Irrigation:                                 North America   $   61,349     $   69,082     $   206,704     $   223,793   International       71,684         74,663         201,003         215,178   Irrigation total       133,033         143,745         407,707         438,971   Infrastructure       27,731         25,719         66,590         83,838   Total operating revenues   $   160,764     $   169,464     $   474,297     $   522,809                                     Operating income:                                 Irrigation   $   20,336     $   27,154     $   62,768     $   79,266   Infrastructure       5,401         5,426         11,061         22,806   Corporate       (7,224 )       (8,787 )       (22,697 )       (25,273 ) Total operating income   $   18,513     $   23,793     $   51,132     $   76,799   The Company manages its business activities in two reportable segments as follows: Irrigation – This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial IoT solutions. Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment. LINDSAY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)                                     (in thousands)   May 31,
2026   May 31,
2025   August 31,
2025                     ASSETS                   Current assets:                   Cash and cash equivalents   $ 154,760   $ 196,117   $ 250,575 Marketable securities     —     14,676     — Receivables, net     137,449     147,848     113,027 Inventories, net     145,945     150,462     136,859 Other current assets     42,198     38,143     32,303 Total current assets     480,352     547,246     532,764                     Property, plant, and equipment, net     166,394     130,611     142,307 Intangibles, net     22,576     23,703     23,331 Goodwill     84,473     84,304     84,459 Operating lease right-of-use assets     19,887     16,899     18,096 Deferred income tax assets     23,173     18,945     19,525 Equity method investment     8,423     8,337     8,763 Other noncurrent assets     16,365     10,818     11,591 Total assets   $ 821,643   $ 840,863   $ 840,836                     LIABILITIES AND SHAREHOLDERS' EQUITY                   Current liabilities:                   Accounts payable   $ 58,712   $ 47,000   $ 48,670 Current portion of long-term debt     89     232     233 Other current liabilities     104,872     103,012     94,689 Total current liabilities     163,673     150,244     143,592                     Pension benefits liabilities     3,215     3,979     3,418 Long-term debt     114,816     114,856     114,810 Operating lease liabilities     18,796     16,572     17,354 Deferred income tax liabilities     1,163     693     1,024 Other noncurrent liabilities     20,884     25,743     27,788 Total liabilities     322,547     312,087     307,986                     Shareholders' equity:                   Preferred stock     —     —     — Common stock     19,199     19,162     19,167 Capital in excess of stated value     117,974     110,523     113,042 Retained earnings     778,258     738,598     745,397 Less treasury stock - at cost     (391,962)     (302,367)     (311,224) Accumulated other comprehensive loss, net     (24,373)     (37,140)     (33,532) Total shareholders' equity     499,096     528,776     532,850 Total liabilities and shareholders' equity   $ 821,643   $ 840,863   $ 840,836 LINDSAY CORPORATION AND SUBSIDIARIES   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS   (Unaudited)                       Nine months ended   (in thousands)   May 31, 2026       May 31, 2025   CASH FLOWS FROM OPERATING ACTIVITIES:               Net earnings $   44,389     $   63,239   Adjustments to reconcile net earnings to net cash provided by operating activities:               Depreciation and amortization     17,047         15,707   Provision for uncollectible accounts receivable     201         1,238   Deferred income taxes     5,548         (2,386 ) Share-based compensation expense     4,890         5,971   Unrealized foreign currency transaction gain     (288 )       (629 ) Other, net     29         (2,493 ) Changes in assets and liabilities:               Receivables     (21,694 )       (32,512 ) Inventories     (6,107 )       3,857   Other current assets     (7,985 )       (3,390 ) Accounts payable     7,831         10,010   Other current liabilities     (7,516 )       6,006   Other noncurrent assets and liabilities     (5,719 )       4,256   Net cash provided by operating activities     30,626         68,874                   CASH FLOWS FROM INVESTING ACTIVITIES:               Purchases of property, plant, and equipment     (35,514 )       (28,251 ) Purchases of marketable securities     —         (14,676 ) Purchase of equity method investment     —         (5,815 ) Proceeds from settlement of net investment hedge     —         835   Payments for settlement of net investment hedge     (1,746 )       (98 ) Other investing activities, net     (1,106 )       (438 ) Net cash used in investing activities     (38,366 )       (48,443 )                 CASH FLOWS FROM FINANCING ACTIVITIES:               Repurchase of common shares     (80,738 )       (2,675 ) Dividends paid     (11,528 )       (11,734 ) Common stock withheld for payroll tax obligations     (1,253 )       (1,450 ) Proceeds from exercise of stock options     805         1,194   Other financing activities, net     346         306   Net cash used in financing activities     (92,368 )       (14,359 )                 Effect of exchange rate changes on cash and cash equivalents     4,293         (834 ) Net change in cash and cash equivalents     (95,815 )       5,238   Cash and cash equivalents, beginning of period     250,575         190,879   Cash and cash equivalents, end of period $   154,760     $   196,117     View source version on businesswire.com: https://www.businesswire.com/news/home/20260702768613/en/ LINDSAY CORPORATION:
Alicia Pfeifer
Vice President, Investor Relations & Treasury
402-933-6429
Alicia.Pfeifer @roxiell-2870
LNN@alpha-ir.com Original: Lindsay Corporation Reports Fiscal 2026 Third Quarter Results

Lindsay Corporation Announces Third Quarter Fiscal 2026 Earnings Conference Call and WebcastJune 18, 2026 6:45 AM
Business Wire Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced it plans to release financial results for its fiscal 2026 third quarter ended May 31, 2026 before the market opens on Thursday, July 2, 2026. Management, including Randy Wood, President and Chief Executive Officer, and Sam Hinrichsen, Senior Vice President and Chief Financial Officer, will host a conference call to discuss the results the same day at 11:00 a.m. ET. Interested investors may pre-register for the teleconference at the following link: https://dpregister.com/sreg/10209837/1043754e3e5. Registered participants will receive an email with a calendar reminder, dial-in number and PIN that allows immediate access to the call on July 2, 2026. Participants who do not wish to pre-register may dial (833) 535-2202 (U.S./Canada) or (412) 902-6745 (International) and request the Lindsay Corporation call. Additionally, the conference call will be simulcast live online and can be accessed via the investor relations section of the Company's website, www.lindsay.com. Replays of the conference call will remain available on the Company’s website until the next quarterly earnings release. The Company will have a slide presentation available to supplement management's formal presentation, which will also be accessible via the Company's website. About Lindsay Corporation
Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world's roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260618327450/en/ For further information, contact: LINDSAY CORPORATION:
Alicia Pfeifer
Vice President, Investor Relations & Treasury
402-933-6429
Alicia.Pfeifer @roxiell-2870
LNN@alpha-ir.com Original: Lindsay Corporation Announces Third Quarter Fiscal 2026 Earnings Conference Call and Webcast

Lindsay Corporation Announces Quarterly Cash DividendApril 3, 2026 6:45 AM
Business Wire
Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.37 per share, payable May 29, 2026, to shareholders of record at the close of business on May 15, 2026.


As of April 1, 2026, Lindsay Corporation had approximately 10.4 million shares outstanding, which are traded on the New York Stock Exchange under the symbol LNN.


About the Company


Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit http://www.lindsay.com/.


Concerning Forward-Looking Statements


This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” "expect," "outlook," "could," "may," "should," “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260403652647/en/
LINDSAY CORPORATION:

Alicia Pfeifer

Vice President, Investor Relations & Treasury

402-933-6429

Alicia.Pfeifer@lindsay.com


Alpha IR:

Joe Caminiti or Abe Plimpton

312-445-2870

LNN@alpha-ir.com


Original: Lindsay Corporation Announces Quarterly Cash Dividend

Lindsay Corporation Reports Fiscal 2026 Second Quarter ResultsApril 2, 2026 6:45 AM
Business Wire
International irrigation project in the Middle East North Africa (MENA) region remains on schedule


Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its second quarter of fiscal 2026, which ended on February 28, 2026.


Key Highlights:



Deliveries began for the $80.0 million irrigation and technology project in the MENA region



Irrigation revenues decreased 5 percent as market uncertainty persists



Continued growth in road safety products with Infrastructure revenue up 6 percent, excluding Road Zipper System™ project that was included in the prior year



Completed $25.2 million of share repurchases during the quarter, bringing total repurchases to $55.5 million for the fiscal year



“During the quarter we began shipping the large project in the Middle East North Africa (MENA) region. While this project remains on schedule, we are exercising caution and prioritizing the safety of our teams in the region," said Randy Wood, President and Chief Executive Officer. "Solid execution of this project is helping to support revenue performance as U.S. market conditions continue to put pressure on commodity prices and constrain demand for irrigation equipment. Credit availability constraints and persistently high interest rates continue to suppress demand in Brazil, resulting in lower order levels this quarter. Excluding the $20 million Road Zipper System project in the prior year, which was not expected to repeat, our infrastructure business increased 6 percent. This growth was driven by a sustained increase in road construction activity supporting increased sales of road safety products. We continued executing against our capital allocation priorities and completed $25.2 million of share repurchases leaving $125 million available under the recent $150 million authorization."


Wood continued, "I am pleased with the resiliency and performance of our teams around the world, as we demonstrate our ability to deliver on project opportunities despite a very volatile macro-economic environment. During the quarter, our Infrastructure team introduced two new road safety products. The Road Runner™ truck-mounted attenuator and the AlphaGuard™ barrier system. These new products highlight our continued investment in innovation and the growing demand for high-performance roadway safety solutions."


Second Quarter Summary




Consolidated Financial Summary






 






Second Quarter








(dollars in millions, except per share amounts)






 






FY2026






 






FY2025






 






$ Change






 






% Change








 






 






 






 






 






 






 






 






 








Total revenues






 






$157.7






 






$187.1






 






($29.3)






 






(16%)








Operating income






 






$13.0






 






$32.1






 






($19.1)






 






(59%)








Operating margin






 






8.3%






 






17.2%






 






 






 






 








Net earnings






 






$12.0






 






$26.6






 






($14.5)






 






(55%)








Diluted earnings per share






 






$1.15






 






$2.44






 






($1.29)






 






(53%)







Revenues for the second quarter of fiscal 2026 were $157.7 million, a decrease of $29.3 million, or 16 percent, compared to $187.1 million in the prior year. The decrease was primarily driven by lower revenues in both the irrigation and infrastructure segments compared to the prior year.


Operating income for the second quarter of fiscal 2026 was $13.0 million, a decrease of $19.1 million, or 59 percent, compared to $32.1 million in the prior year. Lower operating income in both the irrigation and infrastructure segments was partially offset by a reduction in corporate expense. Operating margin was 8.3 percent of sales, compared to 17.2 percent of sales in the prior year.


Net earnings for the second quarter of 2026 were $12.0 million, or $1.15 per diluted share, compared to $26.6 million, or $2.44 per diluted share, in the prior year. Net earnings were impacted by lower operating income and a higher effective tax rate, both of which were partially offset by an increase in other income.


Second Quarter Segment Results




Irrigation Segment






 






Second Quarter








(dollars in millions)






 






FY2026






 






FY2025






 






$ Change






 






% Change








Revenues:






 






 






 






 






 






 






 






 








North America






 






$71.0






 






$77.1






 






($6.1)






 






(8%)








International






 






$70.2






 






$71.0






 






($0.8)






 






(1%)








Total revenues






 






$141.2






 






$148.1






 






($6.9)






 






(5%)








Operating income






 






$19.5






 






$27.4






 






($7.9)






 






(29%)








Operating margin






 






13.8%






 






18.5%






 






 






 






 







Irrigation segment revenues for the second quarter of fiscal 2026 were $141.2 million, a decrease of $6.9 million, or 5 percent, compared to $148.1 million in the prior year. North America irrigation revenues of $71.0 million decreased $6.1 million, or 8 percent, compared to the prior year. The decrease in revenues resulted primarily from lower unit sales volume, and was partially offset by higher average selling prices compared to the prior year. Persistent weakness in commodity markets and tempered farmer sentiment continue to constrain demand for irrigation equipment in North America.


International irrigation revenues for the second quarter of fiscal 2026 of $70.2 million decreased $0.8 million, or 1 percent, compared to the prior year. The decrease resulted primarily from lower sales volumes in Brazil and timing of project volume in the MENA region, which were partially offset by growth in various other regions. In Brazil, available credit and elevated interest rates continue to limit farmers' ability to invest in capital equipment. Revenues in the current year quarter were favorably impacted by the effects of foreign currency translation of approximately $4.0 million compared to the prior year.


Irrigation segment operating income for the second quarter of fiscal 2026 was $19.5 million, a decrease of $7.9 million, or 29 percent, compared to the prior year. Operating margin was 13.8 percent of sales, compared to 18.5 percent of sales in the prior year. The decrease in operating income resulted primarily from lower unit sales volume, a higher proportion of international project sales volume and the impact of fixed cost deleverage compared to the prior year.




Infrastructure Segment






 






Second Quarter








(dollars in millions)






 






FY2026






 






FY2025






 






$ Change






 






% Change








 






 






 






 






 






 






 






 






 








Total revenues






 






$16.5






 






$38.9






 






($22.4)






 






(58%)








Operating income






 






$1.2






 






$13.3






 






($12.1)






 






(91%)








Operating margin






 






7.1%






 






34.1%






 






 






 






 







Infrastructure segment revenues for the second quarter of fiscal 2026 were $16.5 million, a decrease of $22.4 million, or 58 percent, compared to $38.9 million in the prior year. The decrease was primarily attributable to lower Road Zipper System revenues as the prior year included a $20 million project that did not repeat. Sales of road safety products increased compared to the prior year.


Infrastructure segment operating income for the second quarter of fiscal 2026 was $1.2 million, a decrease of $12.1 million, or 91 percent, compared to the prior year. Operating margin was 7.1 percent of sales, compared to 34.1 percent of sales in the prior year. The decrease in operating income resulted primarily from lower Road Zipper System project revenues compared to the prior year.


The backlog of unfulfilled orders at February 28, 2026 was $151.8 million compared with $127.0 million at February 28, 2025. Included in these backlogs are amounts of $19.2 million and $11.9 million, respectively, for orders that are not expected to be fulfilled within the subsequent 12 months. The backlog in irrigation increased as a result of the large irrigation project in the MENA region, while the backlog in infrastructure decreased compared to the prior year.


Outlook


Mr. Wood concluded, “In the U.S., irrigation market conditions remain soft as growers await further trade certainty and hope to see improvement in commodity prices. We expect Brazil to return to growth due to the solid drivers of secular demand that support investments in irrigation, although credit constraints and high interest rates will remain a headwind. We will continue delivery of the irrigation project in the MENA region and we expect to recognize approximately $70 million of revenue for the project in our current fiscal year."


“In infrastructure, we anticipate growth in road safety products and are encouraged by the positive feedback we have received on the new products we just introduced at the American Traffic Safety Services Association trade show. We continue to actively manage a robust pipeline of Road Zipper System projects, but we do not expect to deliver a large project in fiscal 2026.”


Second Quarter Conference Call


Lindsay’s fiscal 2026 second quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (833) 535-2202 in the U.S., or (412) 902-6745 internationally, and requesting the Lindsay Corporation call. Additionally, the conference call will be simulcast live on the internet and can be accessed via the investor relations section of the Company's website, www.lindsay.com. Replays of the conference call will remain on our website through the next quarterly earnings release. The Company will have a slide presentation available to augment management's formal presentation, which will also be accessible via the Company's website.


About the Company


Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.


Concerning Forward-looking Statements


This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” "expect," "outlook," "could," "may," "should," “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.




LINDSAY CORPORATION AND SUBSIDIARIES






 








CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS






 








(Unaudited)






 








 






 






 






 






 






 






 






 






 






 






 






 






 








 






 






Three months ended






 






 






Six months ended






 








(in thousands, except per share amounts)






 






 






February 28,




2026






 






 






 






February 28,




2025






 






 






 






February 28,




2026






 






 






 






February 28,




2025






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Operating revenues






 






$






 






157,715






 






 






$






 






187,064






 






 






$






 






313,533






 






 






$






 






353,345






 








Cost of operating revenues






 






 






 






115,366






 






 






 






 






124,576






 






 






 






 






221,082






 






 






 






 






240,891






 








Gross profit






 






 






 






42,349






 






 






 






 






62,488






 






 






 






 






92,451






 






 






 






 






112,454






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Operating expenses:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Selling expense






 






 






 






10,517






 






 






 






 






10,850






 






 






 






 






21,536






 






 






 






 






21,062






 








General and administrative expense






 






 






 






14,742






 






 






 






 






15,352






 






 






 






 






29,580






 






 






 






 






30,360






 








Engineering and research expense






 






 






 






4,076






 






 






 






 






4,162






 






 






 






 






8,716






 






 






 






 






8,026






 








Total operating expenses






 






 






 






29,335






 






 






 






 






30,364






 






 






 






 






59,832






 






 






 






 






59,448






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Operating income






 






 






 






13,014






 






 






 






 






32,124






 






 






 






 






32,619






 






 






 






 






53,006






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Other income:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Interest income, net






 






 






 






1,984






 






 






 






 






1,441






 






 






 






 






5,303






 






 






 






 






1,934






 








Other income (expense), net






 






 






 






569






 






 






 






 






(351






)






 






 






 






(469






)






 






 






 






307






 








Total other income






 






 






 






2,553






 






 






 






 






1,090






 






 






 






 






4,834






 






 






 






 






2,241






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Earnings before income taxes






 






 






 






15,567






 






 






 






 






33,214






 






 






 






 






37,453






 






 






 






 






55,247






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income tax expense






 






 






 






3,522






 






 






 






 






6,638






 






 






 






 






8,884






 






 






 






 






11,508






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Net earnings






 






$






 






12,045






 






 






$






 






26,576






 






 






$






 






28,569






 






 






$






 






43,739






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Earnings per share:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Basic






 






$






 






1.15






 






 






$






 






2.45






 






 






$






 






2.71






 






 






$






 






4.03






 








Diluted






 






$






 






1.15






 






 






$






 






2.44






 






 






$






 






2.70






 






 






$






 






4.01






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Shares used in computing earnings per share:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Basic






 






 






 






10,449






 






 






 






 






10,863






 






 






 






 






10,561






 






 






 






 






10,858






 








Diluted






 






 






 






10,486






 






 






 






 






10,909






 






 






 






 






10,593






 






 






 






 






10,906






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cash dividends declared per share






 






$






 






0.37






 






 






$






 






0.36






 






 






$






 






0.74






 






 






$






 






0.72






 









LINDSAY CORPORATION AND SUBSIDIARIES






 








SUMMARY OPERATING RESULTS






 








(Unaudited)






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






 






Three months ended






 






 






 






Six months ended






 








(in thousands)






 






 






February 28,




2026






 






 






 






February 28,




2025






 






 






 






February 28,




2026






 






 






 






February 28,




2025






 








Operating revenues:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Irrigation:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








North America






 






$






 






71,042






 






 






$






 






77,145






 






 






$






 






145,354






 






 






$






 






154,884






 








International






 






 






 






70,196






 






 






 






 






70,994






 






 






 






 






129,321






 






 






 






 






140,342






 








Irrigation total






 






 






 






141,238






 






 






 






 






148,139






 






 






 






 






274,675






 






 






 






 






295,226






 








Infrastructure






 






 






 






16,477






 






 






 






 






38,925






 






 






 






 






38,858






 






 






 






 






58,119






 








Total operating revenues






 






$






 






157,715






 






 






$






 






187,064






 






 






$






 






313,533






 






 






$






 






353,345






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Operating income:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Irrigation






 






$






 






19,479






 






 






$






 






27,377






 






 






$






 






42,433






 






 






$






 






52,111






 








Infrastructure






 






 






 






1,165






 






 






 






 






13,257






 






 






 






 






5,659






 






 






 






 






17,381






 








Corporate






 






 






 






(7,630






)






 






 






 






(8,510






)






 






 






 






(15,473






)






 






 






 






(16,486






)








Total operating income






 






$






 






13,014






 






 






$






 






32,124






 






 






$






 






32,619






 






 






$






 






53,006






 







The Company manages its business activities in two reportable segments as follows:


Irrigation – This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial IoT solutions.


Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment.




LINDSAY CORPORATION AND SUBSIDIARIES








CONDENSED CONSOLIDATED BALANCE SHEETS








(Unaudited)








 






 






 






 






 






 






 






 








 






 






 






 






 






 






 






 






 






 








(in thousands)






 






February 28,




2026






 






February 28,




2025






 






August 31,




2025








 






 






 






 






 






 






 






 






 






 








ASSETS






 






 






 






 






 






 






 






 






 








Current assets:






 






 






 






 






 






 






 






 






 








Cash and cash equivalents






 






$






186,111






 






$






172,044






 






$






250,575








Marketable securities






 






 






—






 






 






14,676






 






 






—








Receivables, net






 






 






134,056






 






 






155,440






 






 






113,027








Inventories, net






 






 






144,581






 






 






154,605






 






 






136,859








Other current assets






 






 






34,463






 






 






29,919






 






 






32,303








Total current assets






 






 






499,211






 






 






526,684






 






 






532,764








 






 






 






 






 






 






 






 






 






 








Property, plant, and equipment, net






 






 






162,616






 






 






124,757






 






 






142,307








Intangibles, net






 






 






23,008






 






 






24,097






 






 






23,331








Goodwill






 






 






84,542






 






 






83,877






 






 






84,459








Operating lease right-of-use assets






 






 






20,317






 






 






17,583






 






 






18,096








Deferred income tax assets






 






 






22,873






 






 






11,930






 






 






19,525








Equity method investment






 






 






8,400






 






 






7,452






 






 






8,763








Other noncurrent assets






 






 






16,714






 






 






17,805






 






 






11,591








Total assets






 






$






837,681






 






$






814,185






 






$






840,836








 






 






 






 






 






 






 






 






 






 








LIABILITIES AND SHAREHOLDERS' EQUITY






 






 






 






 






 






 






 






 






 








Current liabilities:






 






 






 






 






 






 






 






 






 








Accounts payable






 






$






55,231






 






$






57,612






 






$






48,670








Current portion of long-term debt






 






 






148






 






 






231






 






 






233








Other current liabilities






 






 






109,908






 






 






87,044






 






 






94,689








Total current liabilities






 






 






165,287






 






 






144,887






 






 






143,592








 






 






 






 






 






 






 






 






 






 








Pension benefits liabilities






 






 






3,283






 






 






4,040






 






 






3,418








Long-term debt






 






 






114,804






 






 






114,903






 






 






114,810








Operating lease liabilities






 






 






19,528






 






 






17,063






 






 






17,354








Deferred income tax liabilities






 






 






2,177






 






 






637






 






 






1,024








Other noncurrent liabilities






 






 






24,839






 






 






16,236






 






 






27,788








Total liabilities






 






 






329,918






 






 






297,766






 






 






307,986








 






 






 






 






 






 






 






 






 






 








Shareholders' equity:






 






 






 






 






 






 






 






 






 








Preferred stock






 






 






—






 






 






—






 






 






—








Common stock






 






 






19,198






 






 






19,155






 






 






19,167








Capital in excess of stated value






 






 






116,002






 






 






107,869






 






 






113,042








Retained earnings






 






 






766,201






 






 






723,008






 






 






745,397








Less treasury stock - at cost






 






 






(366,713)






 






 






(301,119)






 






 






(311,224)








Accumulated other comprehensive loss, net






 






 






(26,925)






 






 






(32,494)






 






 






(33,532)








Total shareholders' equity






 






 






507,763






 






 






516,419






 






 






532,850








Total liabilities and shareholders' equity






 






$






837,681






 






$






814,185






 






$






840,836









LINDSAY CORPORATION AND SUBSIDIARIES






 








CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS






 








(Unaudited)






 








 






 






 






 






 






 






 






 








 






 






Six months ended






 








(in thousands)






 






February 28, 2026






 






 






 






February 28, 2025






 








CASH FLOWS FROM OPERATING ACTIVITIES:






 






 






 






 






 






 






 








Net earnings






$






 






28,569






 






 






$






 






43,739






 








Adjustments to reconcile net earnings to net cash provided by operating activities:






 






 






 






 






 






 






 








Depreciation and amortization






 






 






11,162






 






 






 






 






10,608






 








Provision for uncollectible accounts receivable






 






 






(56






)






 






 






 






97






 








Deferred income taxes






 






 






7,140






 






 






 






 






785






 








Share-based compensation expense






 






 






3,023






 






 






 






 






3,954






 








Unrealized foreign currency transaction gain






 






 






(657






)






 






 






 






(564






)








Other, net






 






 






(828






)






 






 






 






(122






)








Changes in assets and liabilities:






 






 






 






 






 






 






 








Receivables






 






 






(20,820






)






 






 






 






(40,206






)








Inventories






 






 






(4,823






)






 






 






 






(2,419






)








Other current assets






 






 






(1,125






)






 






 






 






2,874






 








Accounts payable






 






 






5,063






 






 






 






 






20,685






 








Other current liabilities






 






 






(4,008






)






 






 






 






(5,479






)








Other noncurrent assets and liabilities






 






 






1,326






 






 






 






 






(72






)








Net cash provided by operating activities






 






 






23,966






 






 






 






 






33,880






 








 






 






 






 






 






 






 






 








CASH FLOWS FROM INVESTING ACTIVITIES:






 






 






 






 






 






 






 








Purchases of property, plant, and equipment






 






 






(27,461






)






 






 






 






(18,918






)








Purchases of marketable securities






 






 






—






 






 






 






 






(14,676






)








Purchase of equity method investment






 






 






—






 






 






 






 






(5,815






)








Proceeds from settlement of net investment hedge






 






 






—






 






 






 






 






835






 








Payments for settlement of net investment hedge






 






 






—






 






 






 






 






(98






)








Other investing activities, net






 






 






(1,238






)






 






 






 






(559






)








Net cash used in investing activities






 






 






(28,699






)






 






 






 






(39,231






)








 






 






 






 






 






 






 






 








CASH FLOWS FROM FINANCING ACTIVITIES:






 






 






 






 






 






 






 








Repurchase of common shares






 






 






(55,489






)






 






 






 






(1,427






)








Dividends paid






 






 






(7,765






)






 






 






 






(7,824






)








Common stock withheld for payroll tax obligations






 






 






(1,253






)






 






 






 






(1,450






)








Proceeds from exercise of stock options






 






 






805






 






 






 






 






668






 








Other financing activities, net






 






 






299






 






 






 






 






248






 








Net cash used in financing activities






 






 






(63,403






)






 






 






 






(9,785






)








 






 






 






 






 






 






 






 








Effect of exchange rate changes on cash and cash equivalents






 






 






3,672






 






 






 






 






(3,699






)








Net change in cash and cash equivalents






 






 






(64,464






)






 






 






 






(18,835






)








Cash and cash equivalents, beginning of period






 






 






250,575






 






 






 






 






190,879






 








Cash and cash equivalents, end of period






$






 






186,111






 






 






$






 






172,044






 








 






 






 






 






 






 






 






 








 






 






 






 






 






 






 






 








 






 






 






 






 






 






 






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260402251611/en/
For further information, contact:


LINDSAY CORPORATION:

Alicia Pfeifer

Vice President, Investor Relations & Treasury

402-933-6429

Alicia.Pfeifer@lindsay.com


Alpha IR Group:

Joe Caminiti and Abe Plimpton

312-445-2870

LNN@alpha-ir.com


Original: Lindsay Corporation Reports Fiscal 2026 Second Quarter Results