[Lindsay Corporation Third Quarter Fiscal 2024 Results](index=1&type=section&id=Lindsay%20Corporation%20Third%20Quarter%20Fiscal%202024%20Results) [Third Quarter Fiscal 2024 Performance Overview](index=1&type=section&id=Third%20Quarter%20Fiscal%202024%20Performance%20Overview) Consolidated revenues declined **15%** to **$139.2 million** due to irrigation market weakness, but net earnings increased **21%** to **$20.4 million**, supported by infrastructure and a tax credit Consolidated Financial Summary - Q3 FY2024 vs Q3 FY2023 | (dollars in millions, except per share amounts) | FY2024 | FY2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | $139.2 | $164.6 | ($25.4) | (15%) | | **Operating income** | $19.9 | $27.0 | ($7.0) | (26%) | | **Operating margin** | 14.3% | 16.4% | | | | **Net earnings** | $20.4 | $16.9 | $3.5 | 21% | | **Diluted earnings per share** | $1.85 | $1.53 | $0.32 | 21% | - Net earnings were favorably impacted by a **$4.8 million** (**$0.44 per diluted share**) income tax credit recognized in Brazil[5](index=5&type=chunk)[7](index=7&type=chunk) - Secured the largest project in company history, a multi-year supply agreement in the Middle East and North Africa (MENA) region valued at **over $100 million**[3](index=3&type=chunk)[5](index=5&type=chunk) - The company completed share repurchases totaling **$17.9 million** during the quarter, aligning with its capital allocation priorities[3](index=3&type=chunk)[5](index=5&type=chunk) - The CEO cited irrigation market softness due to high precipitation in the U.S. Midwest and lower commodity prices with tight credit in Brazil[3](index=3&type=chunk) [Third Quarter Segment Results](index=3&type=section&id=Third%20Quarter%20Segment%20Results) Irrigation segment revenues declined **19%** to **$114.8 million** with a **36%** operating income drop, contrasting with Infrastructure's **11%** revenue growth to **$24.4 million** and **76%** operating income surge [Irrigation Segment](index=3&type=section&id=Irrigation%20Segment) Irrigation segment revenues declined **19%** to **$114.8 million**, with North America down **9%** and international sales, especially Brazil, falling **31%** due to market weakness Irrigation Segment Financials - Q3 FY2024 vs Q3 FY2023 | (dollars in millions) | FY2024 | FY2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Revenues:** | | | | | | North America | $68.2 | $75.0 | ($6.8) | (9%) | | International | $46.6 | $67.5 | ($20.9) | (31%) | | **Total revenues** | **$114.8** | **$142.6** | **($27.7)** | **(19%)** | | **Operating income** | $19.5 | $30.7 | ($11.2) | (36%) | | **Operating margin** | 17.0% | 21.6% | | | - North America irrigation revenues decreased **9%** due to lower unit sales volume, reduced replacement parts sales, and slightly lower average selling prices[8](index=8&type=chunk) - International irrigation revenues fell **31%**, primarily from lower sales volumes in Brazil and other Latin American markets where order activity is constrained by lower commodity prices and reduced credit availability[9](index=9&type=chunk) [Infrastructure Segment](index=3&type=section&id=Infrastructure%20Segment) Infrastructure segment revenues grew **11%** to **$24.4 million**, with operating income up **76%** and margins at **25.8%**, primarily from Road Zipper System sales and leases Infrastructure Segment Financials - Q3 FY2024 vs Q3 FY2023 | (dollars in millions) | FY2024 | FY2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | $24.4 | $22.0 | $2.4 | 11% | | **Operating income** | $6.3 | $3.6 | $2.7 | 76% | | **Operating margin** | 25.8% | 16.2% | | | - Revenue growth was driven by higher Road Zipper System sales and increased lease revenues compared to the prior year[11](index=11&type=chunk) - Operating margin expanded significantly to **25.8%** from **16.2%** due to a more favorable revenue mix with higher-margin Road Zipper System sales and leases[12](index=12&type=chunk) [Backlog and Outlook](index=3&type=section&id=Backlog%20and%20Outlook) Backlog surged to **$246.9 million** from a large MENA project, while near-term irrigation demand remains tempered, but infrastructure growth is expected - The backlog of unfilled orders as of May 31, 2024, was **$246.9 million**, a substantial increase from **$94.5 million** as of May 31, 2023[13](index=13&type=chunk) - The backlog increase is mainly from the large MENA irrigation project, with revenues expected to be recognized from **Q4 fiscal 2024** through **Q1 fiscal 2026**[13](index=13&type=chunk) - The outlook for North American and Brazilian irrigation markets is for tempered demand in the near term, pending improvement in net farm income[14](index=14&type=chunk) - The company expects continued growth in the Infrastructure segment, driven by Road Zipper System lease revenues and road safety product sales, supported by U.S. infrastructure spending[14](index=14&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) This section provides the company's condensed consolidated statements of earnings, balance sheets, and cash flows [Condensed Consolidated Statements of Earnings](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Earnings) Q3 FY2024 revenues were **$139.2 million** and operating income **$19.9 million**, with net earnings rising to **$20.4 million** due to a tax benefit Statement of Earnings Highlights (in thousands) | | Three months ended May 31, | Nine months ended May 31, | | :--- | :--- | :--- | | | **2024** | **2023** | **2024** | **2023** | | **Operating revenues** | $139,199 | $164,553 | $452,076 | $506,953 | | **Gross profit** | $46,497 | $53,221 | $145,356 | $160,499 | | **Operating income** | $19,936 | $26,957 | $63,108 | $78,820 | | **Income tax (benefit) expense** | ($206) | $8,851 | $10,344 | $22,320 | | **Net earnings** | $20,379 | $16,881 | $53,521 | $53,150 | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$758.1 million** as of May 31, 2024, with **$140.2 million** in cash and shareholders' equity at **$480.0 million** Balance Sheet Highlights (in thousands) | | May 31, 2024 | May 31, 2023 | August 31, 2023 | | :--- | :--- | :--- | :--- | | **Cash and cash equivalents** | $140,221 | $131,577 | $160,755 | | **Inventories, net** | $171,522 | $166,759 | $155,932 | | **Total current assets** | $488,718 | $491,252 | $487,484 | | **Total assets** | $758,101 | $723,618 | $745,660 | | **Total current liabilities** | $123,737 | $133,048 | $136,108 | | **Total liabilities** | $278,105 | $286,822 | $290,009 | | **Total shareholders' equity** | $479,996 | $436,796 | $455,651 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was **$42.7 million** for the nine months, with **$32.4 million** used in investing and **$30.2 million** in financing, including share repurchases Statement of Cash Flows Highlights - Nine Months Ended (in thousands) | | May 31, 2024 | May 31, 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $42,650 | $59,168 | | **Net cash used in investing activities** | ($32,389) | ($18,939) | | **Net cash used in financing activities** | ($30,240) | ($13,519) | | **Net change in cash and cash equivalents** | ($20,534) | $26,529 | | **Cash and cash equivalents, end of period** | $140,221 | $131,577 | - Key uses of cash in financing activities for the nine-month period included **$17.9 million** for common stock repurchases and **$11.6 million** for dividend payments[30](index=30&type=chunk)

OMAHA, Neb., June 25, 2024 /PRNewswire/ -- Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation, infrastructure equipment and technology, recently installed its first TAU-XR Xpress Repair Crash Cushion, the latest innovation in its proven lineup of crash cushion systems. The TAU-XR is designed for swift installation and rapid repair, enhancing both efficiency and protection for road maintenance teams. As a severe-duty, low-maintenance crash cushion, it delivers except ...

Analysts on Wall Street project that Lindsay (LNN) will announce quarterly earnings of $1.25 per share in its forthcoming report, representing a decline of 18.3% year over year. Revenues are projected to reach $152.44 million, declining 7.4% from the same quarter last year. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Before a company reveals its e ...

Shares of this Zacks Rank #4 (Sell) company have lost 6.9% in the past year compared with the industry's decline of 10.3%. Image Source: Zacks Investment Research Low Commodity Prices to Weigh on Farm Income: The USDA (U.S. Department of Agriculture) projects net farm income at $116.1 billion for 2024, indicating a decline of 27.1% from that reported in 2023. Moreover, the estimated net farm income for 2024 is 1.7% below its 20-year average (2003-2022) of $118.2 billion. The decline has mainly been resultin ...

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 ...