Lindsay Q2 net earnings up 24% to $18.1M; EPS $1.63, revenue down 17%

LINDSAY CORP

2023-Q2 EPS reported $3.28 revenue$342,400,000

Irrigation segment operating income up 33% to $32.8M despite revenue decline of 18% to $147.8M.
Infrastructure segment operating income up 523% to $2.0M; margin expands to 10.9% from 1.7%.
North America irrigation revenue down 10% to $90.4M on lower unit sales; higher pricing partially offset.
International irrigation revenue down 28% to $57.4M; prior-year large project not repeated, Brazil election impact.
Full-year outlook unchanged; Brazil market delays expected into Q3 but overall demand supportive.

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 0.95

LINDSAY CORP reported second quarter ended February 28, 2023 results: revenue $166.2 million, net income $18.1 million, EPS $1.63 per diluted share.

Period: second quarter ended February 28, 2023
Revenue: $166.2 million
Net income: $18.1 million
EPS: $1.63 per diluted share
Result: reported results

Exact text from the filing

$27.3 $18.3 $9.0 49% Operating margin 16.4% 9.2% Net earnings $18.1 $14.6 $3.5 24% Earnings per share $1.63 $1.32 $0.31 23% Revenues for the second quarter of fiscal 2023 were $166.2 million, a decrease of $33.9 million, or 17 percent, compared to revenues of $200.1 million in the prior year second quarter. Almost all of the decrease came from the irrigation segment

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Source: SEC EDGAR

accession 0000950170-23-011684

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