Lindsay Q1 net earnings double to $18.2M, EPS $1.65; revenue up 6%

LINDSAY CORP

2023-Q1 EPS reported $1.65 revenue$176,159,000

Net earnings $18.2M ($1.65 diluted EPS) vs $7.9M ($0.72) prior year; more than doubled.
Revenue $176.2M, up 6% YoY; Irrigation segment +4% to $152.1M, Infrastructure +19% to $24.1M.
Irrigation operating income $28.6M (margin 18.8%) up 66% on improved price realization and lower cost inflation.
Infrastructure operating income $3.4M (margin 14.0%) up 22% on higher Road Zipper System sales.
Backlog $129.6M vs $154.8M a year ago; CEO cites positive demand outlook supported by farm income and infrastructure spending.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

LINDSAY CORP reported first quarter ended November 30, 2022 results: revenue $176.2 million, net income $18.2 million, EPS $1.65 per diluted share.

Period: first quarter ended November 30, 2022
Revenue: $176.2 million
Net income: $18.2 million
EPS: $1.65 per diluted share
Result: reported results

Exact text from the filing

Revenues for the first quarter of fiscal 2023 were $176.2 million, an increase of $10.0 million, or 6 percent, compared to revenues of $166.2 million in the prior year first quarter. Net earnings for the quarter were $18.2 million, or $1.65 per diluted share, compared with net earnings of $7.9 million, or $0.72 per diluted share, for the prior year first quarter.

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Source: SEC EDGAR

accession 0000950170-23-000171

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