Core Insights - Valmont Industries, Inc. (VMI) reported fourth-quarter 2025 adjusted earnings of $4.92 per share, a 28.1% increase from $3.84 in the same quarter last year, but missed the Zacks Consensus Estimate of $4.95 [1] - The company's revenues for the fourth quarter were $1,038.3 million, reflecting a 0.1% year-over-year increase, yet fell short of the Zacks Consensus Estimate of $1,046.9 million [1] Segment Review - Fourth-quarter revenues in the infrastructure segment increased by 7.2% year over year to $819 million, missing the estimate of $825.8 million, driven by strong utility sales growth and steady sales in other North America infrastructure products [2] - Utility sales rose by 21%, supported by favorable pricing and higher volumes, although a significant decline in solar sales and softness in the Asia-Pacific market offset this growth [3] - Agriculture revenues decreased by 19.9% year over year to $222.7 million, but outperformed the estimate of $213.6 million, primarily due to softer demand for irrigation equipment and ongoing macroeconomic challenges [4] Financials - The company ended the quarter with cash and cash equivalents of $187.1 million, and cash provided by operating activities was $456.5 million, down approximately 20% year over year [5] - VMI returned $85.6 million to shareholders through dividends and share repurchases during the quarter and invested $40.8 million in capital expenditures for growth initiatives [5] 2026 Outlook - VMI provided guidance for full-year 2026, anticipating net sales of approximately $4.2-$4.4 billion, with infrastructure-segment revenues of about $3.25-$3.4 billion and agriculture-segment revenues of around $0.95-$1 billion [6] - The earnings per share outlook is set in the range of $20.5 to $23.50, with capital expenditures expected to be between $170-$200 million and an effective tax rate of approximately 26% [6] Stock Performance - VMI shares have increased by 20.8% over the past year, compared to the industry's growth of 25.0% [7]

Core Insights - Lindsay Corporation (LNN) reported earnings per share of $1.54 for Q1 fiscal 2026, exceeding the Zacks Consensus Estimate of $1.46, although this represents a 2% decline year over year [1] - The company's revenues were $156 million, down from $166 million in the same quarter last year, missing the Zacks Consensus Estimate of $168 million [1] - LNN's backlog as of Nov. 30, 2025, was approximately $119 million, a decrease from about $168 million a year earlier [1] Financial Performance - The cost of operating revenues decreased by 9.1% year over year to around $106 million, while gross profit remained flat at $50 million, resulting in a gross margin of 32.2%, up from 30% in the previous year [2] - Operating expenses rose by 4.8% year over year to $30.4 million, leading to an operating income of roughly $20 million, down from $21 million in the prior year [2] Segment Performance - The Irrigation segment's revenues fell by 9% year over year to approximately $133 million, with North American irrigation revenues declining by 4% to around $74 million due to lower unit sales volume, and international irrigation revenues dropping by 15% to about $59 million [3] - Operating income for the Irrigation segment decreased by 7% year over year to $23 million [3] - Conversely, the Infrastructure segment's revenues increased by 17% year over year to roughly $22 million, driven by higher sales of road safety products, with operating income rising by 9% to $4.5 million [4] Financial Position - As of the end of Q1 fiscal 2026, LNN had cash and cash equivalents of $199.6 million, up from $194.1 million a year earlier, while long-term debt remained stable at around $115 million [5] Future Outlook - The company anticipates that demand for irrigation equipment in North America will remain challenging until commodity prices and farm income improve, but it expects growth opportunities in Brazil [6] - LNN plans to manage a robust pipeline of Road Zipper System projects in fiscal 2026, although it does not expect to deliver any large projects [6] Stock Performance - Lindsay's shares have decreased by 0.5% over the past year, contrasting with the industry's growth of 11.7% [9]

Core Insights - Lindsay Corporation reported earnings per share (EPS) of $1.54, exceeding the estimated $1.46, while revenue was approximately $155.8 million, slightly below the estimated $163 million [1][6] Financial Performance - During Q1 2026 earnings call, the company noted a decline in revenues in both North American and international markets, but improved its irrigation operating margin, indicating efficient cost management [2] - The infrastructure segment experienced a 17% increase in revenues, driven by higher sales of road safety products, showcasing the company's ability to meet market demand [3] Strategic Initiatives - Lindsay Corporation secured an $80 million irrigation contract, which further strengthens its financial performance and market position [3] Valuation Metrics - The company has a price-to-earnings (P/E) ratio of approximately 18.41, a price-to-sales ratio of about 2.06, and an enterprise value to sales ratio of around 1.95, reflecting favorable market valuation [4] Financial Health - Lindsay Corporation maintains a strong liquidity position with a current ratio of 3.42, indicating its ability to cover short-term liabilities with short-term assets [5] - The debt-to-equity ratio stands at 0.25, suggesting a relatively low level of debt compared to equity, indicating financial stability [5] - The company's earnings yield is 5.43%, providing insight into the return on investment for shareholders [5]

Financial Performance - Revenue decreased by $10.5 million, a 6 percent decrease compared to the prior year[10] - Operating income decreased by $1.3 million, a 6 percent decrease compared to the prior year[10] - Diluted earnings per share decreased by $0.03 per share, a 2 percent decrease compared to the prior year[10] - Irrigation revenue decreased by $13.7 million[10] - Infrastructure revenue increased by $3.2 million[10] Irrigation Segment - Irrigation North America revenue decreased 4 percent to $74.3 million[15] - Irrigation international revenue decreased 15 percent to $59.1 million, but included a favorable foreign currency translation effect of $1.5 million[17] Infrastructure Segment - Infrastructure revenue increased 17 percent to $22.4 million[25] - Infrastructure operating income increased 9 percent to $4.5 million[25] Market Factors & Highlights - USDA estimated 2025 U S net farm income to be $179.8 billion, a 41 percent increase from 2024 U S net farm income of $127.8 billion[12] - The company completed share repurchases of $30 million during the quarter[7] - The company secured an $80 million irrigation and technology project in the MENA region subsequent to quarter-end[7]