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Consolidated Revenue: Increased 22% to $169.5 million compared to $139.2 million in the prior year.
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Net Earnings: $19.5 million or $1.78 per diluted share, compared to $20.4 million or $1.85 per diluted share in the prior year.
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Irrigation Segment Revenue: Increased 25% to $143.7 million compared to $114.8 million in the prior year.
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North America Irrigation Revenue: $69.1 million, a 1% increase from $68.2 million in the prior year.
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International Irrigation Revenue: Increased 60% to $74.7 million compared to $46.6 million in the prior year.
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Irrigation Segment Operating Income: $27.2 million, a 39% increase compared to the prior year, with an operating margin of 18.9%.
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Infrastructure Segment Revenue: $25.7 million, a 6% increase from $24.4 million in the prior year.
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Infrastructure Segment Operating Income: $5.4 million compared to $6.3 million in the prior year, with an operating margin of 21.1%.
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Total Available Liquidity: $261 million, including $211 million in cash equivalents and marketable securities, and $50 million available under the revolving credit facility.
Release Date: June 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Lindsay Corp (NYSE:LNN) reported a 22% increase in consolidated revenues for the third quarter of fiscal 2025, reaching $169.5 million.
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The irrigation segment saw a 25% revenue increase, driven by strong international sales, particularly in the Middle East and Brazil.
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The company secured a new $20 million project in the Middle East, expected to contribute to future revenue growth.
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Operational efficiencies and strategic pricing actions have supported margin expansion, particularly in international markets.
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Lindsay Corp (NYSE:LNN) has a strong balance sheet with $261 million in available liquidity, providing a strategic asset for future investments.
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Net earnings for the quarter decreased slightly to $19.5 million, primarily due to a one-time income tax credit in the prior year.
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Domestic irrigation demand in North America is softer compared to the previous year, influenced by declining crop revenue projections.
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The infrastructure segment’s operating margin decreased to 21.1% from 25.8% in the prior year due to a less favorable margin mix.
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The high benchmark interest rate in Brazil, currently at 15%, poses a challenge to short-term growth in the region.
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The timing of large infrastructure projects remains uncertain, which could impact future revenue recognition.
