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Jun. 27, 2025 Source: Lindsay Corp news release OMAHA, Neb. - Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its third quarter ended May 31, 2025. Key Highlights *International irrigation revenues increase 60 percent led by project volume in the Middle East and North Africa (MENA) region *North America irrigation revenues increase slightly despite challenging market dynamics *Infrastructure revenues increase 6 percent on higher sales volumes of road safety products *Operating income increase of 19 percent driven by revenue growth and solid operational execution "Continued strength in our international irrigation business, supported by ongoing project revenues in the MENA region, led to strong irrigation revenue growth for the quarter and a 22 percent increase in our overall revenues compared to last year," said Randy Wood, President and Chief Executive Officer. "North America irrigation revenues were up slightly in the quarter, demonstrating resilience despite increased market uncertainty related to tariffs and potential disruption of U.S. grain exports. "In Brazil, our sales volumes improved compared to the prior year as market conditions continue to show incremental signs of improvement. Infrastructure revenues were also higher than the prior year as we enter road construction season in North America." Wood continued, "I am pleased with the continued solid execution of our large irrigation project in the MENA region and the performance of our operations and supply chain teams globally. Our teams have adapted well in this dynamic environment in order to mitigate potential tariff impacts to our material costs while prioritizing safe and efficient operations. We also continue to leverage our global footprint to minimize potential impacts to the business from tariffs or trade disruptions and expect to pass through any unmitigated cost increases through pricing actions." Outlook Mr. Wood concluded, "We are now in the growing season in North America, when weather conditions will influence crop yields, production estimates and ultimately the direction of crop prices and net farm income for the year. We expect demand in our North America irrigation business to remain tempered until the outlook for net farm income improves. Severe drought conditions have begun to develop in certain parts of the Midwest which may provide a catalyst for incremental sales of replacement parts in the near-term. "In Brazil, market conditions are improving; however, elevated interest rates and credit constraints continue to weigh on customers' ability to invest in capital purchases. Elsewhere in international irrigation markets, we remain confident and encouraged regarding project opportunities to address the food security needs of developing markets." To read the entire report click here. Tweet |
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