Welcome to our dedicated page for Lindsay Corporation news (Ticker: LNN), a resource for investors and traders seeking the latest updates and insights on Lindsay Corporation stock.
Lindsay Corporation (NYSE: LNN) is a global leader in providing innovative water management and road infrastructure products and services. Founded in 1955 and based in Omaha, Nebraska, Lindsay has grown to be a key player in the irrigation and infrastructure sectors.
Irrigation Division: Lindsay's irrigation systems, including center pivot and lateral move systems, operate in over 90 countries. With brands like Zimmatic鈩� and technologies such as FieldNET鈩� and FieldNET Advisor鈩�, Lindsay offers advanced solutions like GPS positioning, wireless irrigation management, and variable rate irrigation to help increase crop yields and optimize water use.
Infrastructure Division: Known for its Lindsay Transportation Solutions, the company manufactures equipment aimed at enhancing road safety and traffic management. Products include the Barrier Systems鈩�, Road Zipper鈩�, and Snoline鈩� brands.
Recently, Lindsay announced a $50 million investment to modernize its largest global manufacturing facility in Lindsay, Nebraska. This initiative includes the adoption of Industry 4.0 technologies, which encompass data connectivity, analytics, artificial intelligence, and automation, and aims to improve operational efficiency and product quality.
Financially, Lindsay generates the majority of its revenue from its irrigation segment, primarily from the United States. The company's strong focus on research and development ensures that it remains at the forefront of technological advancements, providing meaningful innovations to meet the needs of a growing global population.
Lindsay (NYSE: LNN) reported fiscal 2025 first quarter results with consolidated revenues of $166.3 million, up 3% from $161.4 million in the prior year. The growth was driven by a 37% increase in international irrigation revenues to $69.4 million, particularly from projects in the Middle East and North Africa region.
Net earnings reached $17.2 million, or $1.57 per diluted share, representing a 14% increase from $15.0 million ($1.36 per share) in the previous year. North America irrigation revenues declined 13% to $77.7 million due to lower unit sales volume and reduced demand amid projected lower farm income. The infrastructure segment saw a 9% revenue decrease to $19.2 million but improved operating margins to 21.5%.
Post-quarter, Lindsay secured a Road Zipper System contract valued at over $20 million for second quarter delivery and acquired a minority stake in Pessl Instruments GmbH. The company's backlog stood at $168.2 million, significantly higher than $86.8 million in the prior year.
Lindsay (NYSE: LNN) has completed its acquisition of a 49.9% minority interest in Austria-based Pessl Instruments, advancing its position in agricultural technology solutions. The strategic partnership, initially announced in May 2023, combines Lindsay's FieldNET鈩� and FieldNET Advisor鈩� irrigation management platforms with Pessl's METOS鈩� weather stations and FieldClimate software.
Pessl's infrastructure includes over one million sensors connected to 100,000 in-field data collection devices globally, serving 50,000 active customers. The integration enables producers to access comprehensive data from in-field sensors for optimizing crop management, water usage, fertilizer application, and pesticide use.
Lindsay holds an option to acquire the remaining stake in Pessl at a later date. The acquisition, previously announced on April 3, 2024, has received all necessary regulatory approvals.
Lindsay (NYSE: LNN) has announced it will release its fiscal 2025 first quarter financial results, for the period ended November 30, 2024, before market opens on Tuesday, January 7, 2025. The company will host a conference call at 11:00 a.m. ET on the same day, led by President and CEO Randy Wood and CFO Brian Ketcham.
Investors can pre-register for the teleconference or dial in directly. The call will also be available via live webcast through the company's website, along with supplementary slide presentations. Call recordings will remain accessible on Lindsay's website until the next quarterly earnings release.
Lindsay (NYSE: LNN), a global manufacturer of irrigation and infrastructure equipment, announced a quarterly cash dividend of $0.36 per share. The dividend will be paid on November 29, 2024, to shareholders recorded as of November 15, 2024. The company currently has approximately 10.8 million shares outstanding traded on the NYSE under the symbol LNN.
Lindsay (NYSE: LNN) reported Q4 FY2024 results with revenues of $155.0 million, down 7% from $167.1 million in Q4 FY2023. Net earnings decreased to $12.7 million ($1.17 per share) from $19.2 million ($1.74 per share). North America irrigation revenues increased 2% to $61.7 million, while international irrigation revenues declined 23% to $64.2 million. Infrastructure segment showed improvement with revenues up 24% to $29.1 million. Full-year FY2024 revenues were $607.1 million, down 10% from $674.1 million, with net earnings of $66.3 million ($6.01 per share). The company's backlog increased to $180.9 million from $78.7 million year-over-year.
Lindsay (NYSE: LNN) has announced its plans to release financial results for the fiscal 2024 fourth quarter and fiscal year ended August 31, 2024. The results will be released before the market opens on Thursday, October 24, 2024. A conference call to discuss the results will be hosted by management, including Randy Wood, President and CEO, and Brian Ketcham, Senior VP and CFO, on the same day at 11:00 a.m. ET.
Investors can pre-register for the teleconference or dial in directly. The call will also be simulcast live online via the company's website. A slide presentation will be available to supplement the formal presentation, accessible through Lindsay's website. Replays of the conference call will remain available on the website until the next quarterly earnings release.
Lindsay (NYSE: LNN) has announced an increase in its regular quarterly cash dividend to $0.36 per share, up from the previous rate of $0.35. The new annual dividend rate is now $1.44 per share, compared to $1.40 previously. The dividend is payable on August 30, 2024, to shareholders of record as of August 16, 2024. The company has approximately 10.9 million shares outstanding as of June 25, 2024.
Lindsay reported its Q3 fiscal 2024 results, revealing significant financial details and strategic developments. The company achieved diluted earnings per share (EPS) of $1.85, a 21% increase from $1.53 in the prior year. A notable income tax credit in Brazil contributed $4.8 million to net earnings. Despite achieving a multi-year international irrigation supply agreement worth over $100 million, the firm's total revenues declined by 15% to $139.2 million due to softness in the global irrigation market, particularly in North America and Brazil.
The irrigation segment experienced a revenue drop of 19% to $114.8 million, while the infrastructure segment saw an 11% rise to $24.4 million. Operating income fell by 26% to $19.9 million, mainly due to lower irrigation segment revenues. Nevertheless, net earnings rose to $20.4 million, reflecting a 21% increase from the previous year. Lindsay completed $17.9 million in share repurchases and reported a backlog of $246.9 million in orders. The company expects continued growth in its infrastructure segment, driven by increased U.S. infrastructure spending and international projects.
Lindsay (NYSE: LNN) has installed its first TAU-XR Xpress Repair Crash Cushion in Las Vegas, Nevada. The TAU-XR, designed for quick installation and cost-effective repairs, enhances road safety with its dual-rail configuration and innovative attenuation. It offers a range of transition options up to 52 inches and can be installed in 30 minutes or less. The crash cushion, tested for both asphalt and concrete, ensures long-term durability and low maintenance costs. This installation marks a significant step in Lindsay's commitment to road safety and efficient maintenance operations.
Lindsay (NYSE: LNN) will release its fiscal 2024 third quarter financial results on June 27, 2024, before market open.
Company executives, including CEO Randy Wood and CFO Brian Ketcham, will host a conference call to discuss these results at 11:00 a.m. ET the same day.
Investors can pre-register for the call or dial in directly using specific numbers for the U.S., international, and Canadian participants.
The call will also be webcast live and accessible via the investor relations section of Lindsay's website, where a replay will be available until the next earnings release.
A slide presentation will accompany the call, available on the company's website.
FAQ
What is the current stock price of Lindsay Corporation (LNN)?
What is the market cap of Lindsay Corporation (LNN)?
What does Lindsay Corporation do?
What are Lindsay's main business segments?
Where does Lindsay Corporation generate most of its revenue?
What recent investments has Lindsay Corporation announced?
What brands are part of Lindsay's irrigation division?
How does Lindsay contribute to road infrastructure?
In how many countries does Lindsay's irrigation system operate?
What technologies does Lindsay use in its irrigation systems?
When was Lindsay Corporation founded?
Where is Lindsay Corporation headquartered?
