Lindsay Corporation (LNN) signed a multi-year supply agreement to provide Zimmatic irrigation systems and FieldNET remote management and scheduling technology in the Middle East and North Africa region. This move is part of a broader strategy to support localized food production in the region. The project is valued at more than $100 million in revenues. Pivot shipments for this project will commence in fourth-quarter fiscal 2024 and are scheduled to continue until 2025. FieldNET Advisor offers project-wide ...

Post this FieldNET Advisor provides meaningful insights on how to help growers maximize yields. OMAHA, Neb., May 16, 2024 /PRNewswire/ -- Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced enhancements to FieldNET Advisor™, its award-winning irrigation management solution. FieldNET Advisor simplifies irrigation decisions for growers, and now through advanced technology also improves the product's return on ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-13419 Lindsay Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) ...

Lindsay Corporation (NYSE:LNN) Q2 2024 Earnings Conference Call April 4, 2024 11:00 AM ET Company Participants Randy Wood - President and Chief Executive Officer Brian Ketcham - Chief Financial Officer Conference Call Participants Ryan Connors - Northcoast Research Tyler Hutin - William Blair Jon Braatz - Kansas City Capital Brett Kearney - American Rebirth Opportunity Partners Adam Farley - Stifel Nicolaus Operator Hello, and welcome to the Lindsay Corporation Fiscal Second Quarter 2024 Earnings Conference ...

2nd Quarter Fiscal 2024 Earnings Slide Deck Investors should understand that a number of factors could cause future economic and industry conditions and the Company's actual financial condition and results of operations to differ materially from management's beliefs expressed in the forward-looking statements contained in this presentation. These factors include those outlined in the "Risk Factors" section of the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commiss ...

Exhibit 99.1 18135 BURKE ST. OMAHA, NE 68022 TEL: 402-829-6800 FAX: 402-829-6836 Lindsay Corporation Reports Second Quarter Fiscal 2024 Results Irrigation demand in North America remains stable while market activity in Brazil declines; infrastructure results deliver meaningful margin expansion OMAHA, Neb., April 4, 2024—Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its second quarter ended ...

Financial Performance - Operating revenues for the three months ended November 30, 2023, were $161,358,000, a decrease of 8.5% compared to $176,159,000 for the same period in 2022[8]. - Gross profit for the same period was $49,905,000, down from $53,020,000, reflecting a gross margin of 30.9% compared to 30.1% in the prior year[8]. - Net earnings decreased to $15,019,000, or $1.36 per diluted share, compared to $18,217,000, or $1.65 per diluted share in the previous year, representing a decline of 17.9%[8]. - The company reported a total comprehensive income of $14,929,000 for the three months ended November 30, 2023, compared to $16,072,000 in the same period of 2022[9]. - Net cash provided by operating activities increased significantly to $21,872,000 from $4,682,000 year-over-year[1]. - Cash provided by operating activities totaled $21.9 million for the three months ended November 30, 2023, compared to $4.7 million in the same period of 2022[93]. Assets and Liabilities - Total current assets increased to $501,302,000 as of November 30, 2023, compared to $481,407,000 a year earlier, primarily driven by an increase in cash and cash equivalents[12]. - Total assets rose to $763,918,000 from $708,296,000 year-over-year, indicating a growth of 7.8%[12]. - Total liabilities decreased to $297,058,000 from $303,508,000, reflecting a reduction of 2.1%[12]. - Shareholders' equity increased to $466,860,000 as of November 30, 2023, compared to $404,788,000 a year earlier, marking a growth of 15.3%[12]. - The Company has cash and cash equivalents amounting to $159,381,000 as of November 30, 2023, compared to $99,168,000 in 2022, reflecting a significant increase[41]. - As of November 30, 2023, the total long-term debt of the Company is $115,120,000, a decrease from $115,297,000 in 2022[39]. Revenue Segments - Irrigation segment revenues decreased 8% to $140.2 million, while infrastructure segment revenues decreased 12% to $21.2 million[73]. - The irrigation segment accounted for 87% of total revenue during the three months ended November 30, 2023, while international irrigation revenues decreased by 25% to $50.8 million[83][85]. Tax and Expenses - The company recorded an income tax expense of $6.0 million for the three months ended November 30, 2023, compared to $5.8 million in the same period in 2022[34]. - The estimated annual effective income tax rate increased slightly to 28.0% for the three months ended November 30, 2023, from 27.3% in the prior year[35]. - The effective income tax rate increased to 28.5% for the three months ended November 30, 2023, up from 24.1% in the prior year[90]. - The company continues to invest in engineering and research, with expenses of $4,352,000 for the quarter, slightly up from $4,308,000 in the previous year[8]. Shareholder Actions - Cash dividends declared per share increased to $0.35 from $0.34, representing a 2.9% increase[8]. - The Company paid a quarterly cash dividend of $0.35 per common share, totaling $3.9 million, an increase from $3.7 million in the same quarter of the previous year[98]. - The remaining amount available under the share repurchase program was $63.7 million as of November 30, 2023[62]. - The Company has authorized a share repurchase program of up to $250.0 million, with $63.7 million remaining available as of November 30, 2023[99]. - The Company has not repurchased any shares during the three months ended November 30, 2023 and 2022[62]. Market Conditions - U.S. net farm income for 2023 is estimated at $151.1 billion, a decrease of 17% from the record $182.8 billion in 2022[77]. - U.S. corn prices decreased approximately 32% and soybean prices decreased approximately 8% from November 2022[77]. - The Company expects growth opportunities in international markets driven by food security, water scarcity, and population growth[76]. Inventory and Backlog - Total inventories as of November 30, 2023, were valued at $164,144,000, a decrease from $188,404,000 in the prior year[37]. - The backlog of unshipped orders as of November 30, 2023 was $86.8 million, down from $129.6 million a year earlier, indicating fluctuations due to seasonality and contract timing[80].

Lindsay Corporation (NYSE:LNN) Q1 2024 Earnings Conference Call January 4, 2024 11:00 AM ET Company Participants Randy Wood - President and Chief Executive Officer Brian Ketcham - Senior Vice President and Chief Financial Officer Conference Call Participants Tyler Hutin - William Blair Nathan Jones - Stifel Brian Wright - ROTH MKM Jon Braatz - Kansas City Capital Operator Hello and welcome to the Lindsay Corporation Fiscal First Quarter 2024 Earnings Conference Call. All participants will be in listen-only ...

Financial Performance - Operating revenues for fiscal 2023 were $674.1 million, a 13% decrease from $770.7 million in fiscal 2022[127]. - Net earnings increased by 11% to $72.4 million, or $6.54 per diluted share, compared to $65.5 million, or $5.94 per diluted share, in the prior year[127][146]. - Gross profit for fiscal 2023 was $213.0 million, a 7% increase from $199.2 million in fiscal 2022, with a gross margin of 31.6% compared to 25.8% in the prior year[141]. - Operating revenues for 2023 were $674,084, a decrease of 12.5% compared to $770,743 in 2022[177]. - Net earnings for 2023 were $72,379, representing an increase of 10.3% from $65,469 in 2022[180]. - Basic earnings per share increased to $6.58, up from $5.97 in 2022, marking an increase of 10.2%[177]. - Total assets as of August 31, 2023, were $745,660, an increase from $710,653 in 2022[183]. - Total liabilities decreased to $290,009 in 2023, down from $317,295 in 2022, a reduction of 8.6%[183]. - Shareholders' equity increased to $455,651 in 2023, up from $393,358 in 2022, reflecting a growth of 15.8%[183]. - The company reported total comprehensive income of $72,842 for 2023, compared to $61,929 in 2022, an increase of 17.5%[180]. Revenue and Sales - The company's irrigation revenues are cyclical and highly dependent on agricultural commodity prices, which can significantly affect sales levels[78]. - The Company’s international revenues are primarily generated from regions including Australia, New Zealand, and Europe, with sales to Russia and Belarus paused indefinitely due to geopolitical tensions[95]. - International irrigation revenues decreased by 11% to $276.5 million, impacted by the completion of a large project in Egypt and lower sales in Ukraine, Russia, and Australia[139]. - Irrigation segment revenues decreased by 12% to $586.0 million, while infrastructure segment revenues decreased by 16% to $88.1 million[137]. - Revenue recognized at a point in time for the year ended August 31, 2023, was $629.4 million, down from $731.9 million in 2022[235]. - Revenue recognized over time for the year ended August 31, 2023, was $32.5 million, compared to $28.4 million in 2022, indicating an increase of approximately 14.8%[235]. Costs and Expenses - Operating expenses increased by 6% to $110.8 million in fiscal 2023, primarily due to higher employee incentive expenses and increased spending on new product development[142]. - The profitability may be negatively affected by changes in the availability and price of parts and raw materials, impacting production costs[94]. - Other expense decreased to $1.8 million in fiscal 2023, down from $6.8 million in fiscal 2022, due to lower interest expense and higher interest income[143]. - The effective income tax rate increased to 27.9% in fiscal 2023 from 25.5% in fiscal 2022, reflecting a higher proportion of earnings in foreign jurisdictions[144]. Cash Flow and Capital Management - The Company has a share repurchase program authorized for up to $250.0 million, with $63.7 million remaining as of August 31, 2023[111]. - The Company paid dividends totaling $15.1 million in fiscal 2023, compared to $14.6 million in fiscal 2022[112]. - Cash flows used in investing activities rose to $47.4 million in fiscal 2023, primarily due to a $30.8 million business acquisition, while capital spending increased to $18.8 million from $15.6 million[150]. - Net cash provided by operating activities significantly increased to $119,707,000 from $3,048,000 in 2022[188]. - Total dividends paid increased to $15,082,000 in 2023 from $14,599,000 in 2022[188]. Market and Economic Factors - A decline in oil prices or changes in government policies regarding biofuels could negatively impact the biofuels market and reduce demand for irrigation equipment[76]. - Rising interest rates could negatively impact customer demand and the ability to finance new equipment purchases[98]. - The U.S. Department of Agriculture estimated U.S. 2023 net farm income to be $141.3 billion, a decrease of 22.8% from $183.0 billion in 2022[128]. - The Company anticipates increased demand for its infrastructure products due to the $110 billion federal funding for transportation projects from the Infrastructure Investment and Jobs Act[119]. Risks and Compliance - The company faces risks from climate change, which could adversely impact operations and the availability of raw materials[79]. - International sales efforts are affected by trade barriers and compliance obligations, which could increase costs and reduce competitiveness[84]. - The company is exposed to risks from legal proceedings, which could divert management attention and incur substantial costs[86]. - Compliance with environmental regulations may require additional capital expenditures, potentially impacting financial condition[83]. - The Company’s international sales and profit margins are at risk due to currency exchange fluctuations, which can affect competitiveness in foreign markets[97]. - The Company estimates a potential decrease in operating income of approximately $5.8 million from a ten percent adverse change in foreign currency exchange rates[162]. Strategic Initiatives - The Company is committed to growth through global market expansion, margin improvements, and strategic acquisitions[121]. - The company continues to enhance its irrigation product offerings through innovative technologies such as GPS positioning and wireless irrigation management[191]. - The Company completed the acquisition of FieldWise, LLC for a purchase price of $32.6 million, financed through cash on hand[240]. Assets and Liabilities - The Company’s cash, cash equivalents, and marketable securities totaled $166.3 million as of August 31, 2023, up from $116.5 million a year earlier, primarily due to increased net earnings and reduced inventories[147]. - Net working capital increased to $351.4 million at August 31, 2023, compared to $316.2 million at August 31, 2022, with cash flows from operating activities rising to $119.7 million from $3.0 million in the prior year[149]. - Total inventory value decreased from $216.1 million in 2022 to $155.9 million in 2023, a reduction of approximately 28%[257]. - Total operating property, plant, and equipment increased from $194.7 million in 2022 to $206.9 million in 2023, a growth of about 6.2%[259]. - Goodwill increased from $67.1 million in 2022 to $83.1 million in 2023, primarily due to the acquisition of FieldWise[260].

Financial Data and Key Metrics Changes - Total revenues for Q4 2023 decreased 12% to $167.1 million compared to $190.2 million in Q4 2022 [12] - Net earnings for Q4 2023 were $19.2 million or $1.74 per diluted share, growing more than 7% compared to net earnings of $17.9 million or $1.62 per diluted share in the prior year [12] - For the full year, total revenues decreased 13% to $674.1 million compared to $770.7 million in the prior fiscal year, while net earnings increased 11% to $72.4 million or $6.54 per diluted share [13] Business Segment Data and Key Metrics Changes - Irrigation segment revenues for Q4 decreased 5% to $143.6 million, with North America irrigation revenues down 25% to $60.2 million due to lower unit sales volumes [14] - International irrigation revenues increased 18% to $83.4 million, primarily driven by higher sales volumes in Brazil, Argentina, and the Middle East [15] - Infrastructure segment revenues for Q4 decreased 41% to $23.5 million, attributed to lower Road Zipper system sales, while operating income decreased 73% to $3.1 million [18][19] Market Data and Key Metrics Changes - The North American irrigation market outlook remains positive, supported by current commodity prices and U.S. net farm income projections [5] - International irrigation markets, particularly in Brazil and South America, experienced strong growth, with expectations for robust sales volume levels in fiscal 2024 [6] - Infrastructure opportunities are bolstered by federal funding from the Infrastructure Investments and Jobs Act, which is expected to broaden the sales and leasing pipeline [7] Company Strategy and Development Direction - The company aims for organic revenue growth averaging greater than 7% annually over the next five years, with operating margins greater than 14% and earnings per share growth greater than 10% [22][23] - The acquisition of FieldWise enhances the company's irrigation technology capabilities and expands its customer base [8][9] - The company is focused on innovation and technology to strengthen its growth profile and improve operational efficiency [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the near-term demand for irrigation products, citing profitability among growers as a key driver for future investments [30] - The transition to quarterly allocation of Brazilian financing is expected to change order patterns but is viewed positively for long-term growth [32][38] - The company anticipates increased capital expenditures in 2024, estimating between $30 million and $35 million for CapEx to support growth initiatives [49] Other Important Information - Total available liquidity at the end of the fiscal year was $216 million, with free cash flow of $100.9 million, representing 139% of net earnings [21] - The company released its fifth annual ESG report, highlighting progress on environmental, social, and governance goals [10] Q&A Session Summary Question: Expectations for operating margin greater than 14% - Management indicated that while they achieved an operating margin of 15% in 2023, they expect to maintain margins above 14% going forward, factoring in reinvestments into the business [26] Question: Near-term expectations for domestic irrigation - Management noted a wait-and-see approach among customers but expressed optimism for order demand, anticipating year-over-year unit volume growth in North America [31] Question: Impact of Brazilian financing changes on seasonality - Management explained that the new quarterly allocation of financing in Brazil will change order patterns but is expected to support growth in the region [32][38] Question: Inventory reduction and cash flow benefits - Management confirmed a focus on reducing inventory levels, which has been successful, and indicated potential for continued cash flow benefits in 2024 [39] Question: Tax rate expectations for 2024 - The effective tax rate for 2024 is expected to be around 29%, influenced by changes in U.S. tax regulations allowing foreign tax credits for earnings in Brazil [40]