Lindsay Q3 Earnings Beat Estimates, Revenues Increase 22% Y/Y

Core Insights - Lindsay Corporation (LNN) reported adjusted earnings per share of $1.78 for Q3 fiscal 2025, exceeding the Zacks Consensus Estimate of $1.36 and down from $1.85 in the same quarter last year [1][9] - The company generated revenues of $169.5 million, a 22% increase from $139 million in the prior year, and also surpassed the Zacks Consensus Estimate of $162 million [2][9] Financial Performance - Gross profit rose 15.5% to $54 million, while gross margin decreased to 31.7% from 33.4% year over year [3] - Operating income increased to $23.8 million from $19.9 million in the prior year, with operating expenses rising 12.5% to $29.8 million [3] Segment Analysis - The Irrigation segment's revenues grew 25% year over year to approximately $144 million, with international revenues surging 60% to $75 million due to a significant project in the MENA region [4][9] - The Infrastructure segment saw a 6% revenue increase to $26 million, but operating income fell 14% to $5.4 million despite higher Road Zipper System sales [5] Financial Position - At the end of Q3 fiscal 2025, Lindsay had cash and cash equivalents of $196 million, up from $191 million at the end of fiscal 2024, with long-term debt remaining stable at around $115 million [6] Market Outlook - The company anticipates a tempered North America irrigation business due to low farm income, but remains optimistic about international irrigation opportunities, especially in developing regions [7] Stock Performance - Lindsay's shares have increased by 11.8% over the past year, compared to the industry's growth of 32.4% [8]