Lindsay Corporation LNN delivered earnings per share of $1.57 in first-quarter fiscal 2025 (ended Nov. 30, 2024), beating the Zacks Consensus Estimate of $1.34. The bottom line improved 15% year over year.
The company generated revenues of $166 million, up from $161 million in the year-ago quarter. The top line met the Zacks Consensus Estimate.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The company’s backlog as of Nov. 30, 2024, was around $168 million compared with roughly $87 million as of Nov. 30, 2023.
Lindsay’s Q1 Operational Update
The cost of operating revenues improved 4.4% year over year to around $116 million. The gross profit was $50 million, fairly flat from the year-earlier quarter. The gross margin was 30.1% compared with the year-ago quarter’s 31%.
Operating expenses were around $29 million in the fiscal first quarter, up 0.7% year over year. Operating income was roughly $22 million, up from the prior-year quarter’s $21 million.
Lindsay Corporation Price, Consensus and EPS Surprise
Lindsay Corporation price-consensus-eps-surprise-chart | Lindsay Corporation Quote
LNN’s Q1 Segmental Results
The Irrigation segment’s revenues rose 5% year over year to around $147 million in the fiscal first quarter. North America’s irrigation revenues fell 13% from the year-ago quarter to roughly $78 million, due to lower unit sales volume. The International irrigation segment’s revenues grew 37% year over year to around $69 million.
The Irrigation segment’s operating income fell 2% year over year to $24.7 million.
The Infrastructure segment’s revenues decreased 9% year over year to roughly $19 million. The downside was caused by a difference in the timing of Road Zipper System lease revenues. The segment reported an operating income of $4.1 million, up 14% year over year.
Lindsay’s Financial Position
Lindsay had cash and cash equivalents of roughly $194 million at the end of the first quarter of fiscal 2025 compared with $159 million as of end of the first quarter of fiscal 2024. The company’s long-term debt was around $115 million as of Nov. 30, 2024, flat with the reported figure on Nov. 30, 2023.
LNN’s FY25 Outlook
The company expects growth in its infrastructure segment in fiscal 2025 aided by the large Road Zipper System project LNN recently secured. In North America and Brazil’s irrigation markets, the market conditions are expected to remain soft in the near term.
Lindsay Stock’s Price Performance
Lindsay’s shares have lost 9.8% in the past year against the industry’s growth of 0.9%.
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LNN’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Farm Equipment Stocks Awaiting Results
Deere & Company DE is expected to release its first-quarter fiscal 2025 results soon.
The Zacks Consensus Estimate for the company’s earnings per share is pegged at $3.08 for the fiscal first quarter, implying a decline of 50.5% from the year-ago reported figure. The Zacks Consensus Estimate for total revenues is pinned at $7.8 billion, indicating a year-over-year decrease of 25.7%
AGCO Corp. AGCO is anticipated to release its fourth-quarter 2024 results soon. The Zacks Consensus Estimate for the company’s earnings per share is pegged at $1.81 for the fourth quarter, implying a decline of 52% from the year-ago reported figure. The Zacks Consensus Estimate for total revenues is pinned at $3.2 billion, indicating a year-over-year decrease of 16.8%.
CNH Industrial N.V. CNH is expected to release its fourth-quarter 2024 results soon. The Zacks Consensus Estimate for the company’s earnings per share is pegged at 19 cents for the fourth quarter, implying a decline of 54.7% from the year-ago reported figure. The Zacks Consensus Estimate for total revenues is pinned at $4.9 billion, indicating a year-over-year decrease of 27.4%.
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