Lindsay Corp Q3 revenue down 23% YoY to $164.6M; EPS $1.53 vs $2.28

LINDSAY CORP

2023-Q3 EPS reported $4.80 revenue$506,953,000

Total revenues $164.6M, down 23% from $214.3M YoY; operating income $27.0M, down 23%.
Net earnings $16.9M ($1.53 diluted EPS), down 33% from $25.1M ($2.28 diluted EPS) YoY.
Irrigation segment revenues $142.6M, down 24% YoY; operating margin improved to 21.6% from 21.0%.
Infrastructure segment revenues $22.0M, down 14% YoY; operating margin increased to 16.2% from 14.8%.
Backlog of unfilled orders $94.5M vs $98.3M a year ago; outlook expects lower Q4 demand vs. strong prior year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

LINDSAY CORP reported third quarter ended May 31, 2023 results: revenue $164.6 million, net income $16.9 million, EPS $1.53 per diluted share.

Period: third quarter ended May 31, 2023
Revenue: $164.6 million
Net income: $16.9 million
EPS: $1.53 per diluted share
Result: reported results

Exact text from the filing

($8.2) (23%) Operating margin 16.4% 16.4% Net earnings $16.9 $25.1 ($8.2) (33%) Earnings per share $1.53 $2.28 ($0.75) (33%) Revenues for the third quarter of fiscal 2023 were $164.6 million, a decrease of $49.7 million, or 23 percent, compared to revenues of $214.3 million in the prior year third quarter. The majority of the decrease came from the irrigation segment

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Source: SEC EDGAR

accession 0000950170-23-030531

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