Lindsay Q2 revenue misses estimates on North America irrigation unit weakness

Lindsay

02/04/2026 11:56

Overview

U.S. irrigation and infrastructure firm's fiscal Q2 revenue fell 16%, missing analyst expectations

Diluted EPS for fiscal Q2 dropped 53% yr/yr to $1.15

Company repurchased $25.2 mln of shares during the quarter

Outlook

Lindsay expects to recognize about $70 mln of MENA project revenue in current fiscal year

Company anticipates growth in road safety products in infrastructure segment

Lindsay does not expect to deliver a large Road Zipper System project in fiscal 2026

Result Drivers

NORTH AMERICA IRRIGATION WEAKNESS - Co said lower unit sales volume and soft commodity markets constrained demand for irrigation equipment in North America

BRAZIL CREDIT CONSTRAINTS - Co said credit availability and high interest rates limited farmers' ability to invest in capital equipment in Brazil

INFRASTRUCTURE PROJECT COMPARISON - Co said infrastructure revenue fell due to a large Road Zipper System project in the prior year that did not repeat

Company press release: ID:nBwbtgDX6a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$157.70 mln
$171.39 mln (4 Analysts)
Q2 EPS
$1.15
Q2 Net Income
$12 mln
Q2 Operating Income
$13 mln
Q2 Operating Margin
8.30%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

Wall Street's median 12-month price target for Lindsay Corp is $139.00, about 18.7% above its April 1 closing price of $117.15

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)