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• Consolidated Revenue: Increased 23% to $187.1 million, compared to $151.5 million in the prior year.

• Net Earnings: Increased 47% to $26.6 million or $2.44 per diluted share, compared to $18.1 million or $1.64 per diluted share in the prior year.

• Irrigation Segment Revenue: Increased 11% to $148.1 million, compared to $133 million in the prior year.

• North America Irrigation Revenue: Decreased 7% to $77.1 million compared to the prior year.

• International Irrigation Revenue: Increased 42% to $71 million compared to the prior year.

• Irrigation Segment Operating Income: Increased 7% to $27.4 million, with an operating margin of 18.5% compared to 19.3% in the prior year.

• Infrastructure Segment Revenue: More than doubled to $38.9 million compared to $18.5 million in the prior year.

• Infrastructure Segment Operating Income: More than tripled to $13.3 million, with an operating margin of 34.1% compared to 19% in the prior year.

• Total Available Liquidity: $236.7 million, including $186.7 million in cash equivalents and marketable securities, and $50 million available under the revolving credit facility.

• Warning! GuruFocus has detected 5 Warning Sign with LNN.

Release Date: April 03, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Lindsay Corp (NYSE:LNN) reported record quarterly net earnings, supported by a 23% increase in consolidated revenues.

• The international irrigation market showed significant growth, with revenues increasing by 42% year-over-year, driven by large projects in the MENA region.

• The Infrastructure segment saw a substantial increase in revenues, more than doubling compared to the prior year, primarily due to the completion of a large Road Zipper project.

• The company received FHWA approval for the new TAU-XR express repair crash cushion, enhancing safety and maintenance efficiency.

• Lindsay Corp (NYSE:LNN) has a strong balance sheet with $236.7 million in available liquidity, providing strategic flexibility for capital allocation and growth initiatives.

Negative Points

• North America irrigation revenues decreased by 7% due to lower unit sales volume and slightly lower average selling prices.

• The timing of large infrastructure projects remains challenging to predict, which could impact future revenue streams.

• Rising interest rates and a challenging credit environment in Brazil pose potential headwinds for demand in the region.

• The company anticipates a marginal increase in cost of goods due to proposed tariffs, which may lead to increased pricing.

• Uncertainty surrounding potential retaliatory tariffs could impact the agricultural economy and customer sentiment in the U.S.