Lindsay Q2 revenue down 9% to $151.5M; announces 49.9% minority investment in Pessl Instruments

LINDSAY CORP

2024-Q2 EPS reported $2.99 revenue$312,877,000

Revenue $151.5M, down 9% YoY; EPS $1.64 vs $1.63, boosted by $1.1M Brazil tax benefit and higher other income.
Irrigation segment revenue $133.0M (-10% YoY), with North America down 8% and international down 13% on Brazil weakness.
Infrastructure segment revenue flat at $18.5M, but operating income up 74% to $3.5M on higher Road Zipper System lease mix.
Acquired 49.9% minority stake in Pessl Instruments (Austrian agtech firm) with option to buy remainder in 2.5-5 years; expected close in H2 FY2024.
Guidance: USDA projects decline in 2024 net farm income; Lindsay expects near-term headwinds for irrigation but continued infrastructure growth.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

LINDSAY CORP reported second quarter ended February 29, 2024 results: revenue $151.5 million, net income $18.1 million, EPS $1.64 per diluted share.

Period: second quarter ended February 29, 2024
Revenue: $151.5 million
Net income: $18.1 million
EPS: $1.64 per diluted share
Result: reported results

Exact text from the filing

and infrastructure equipment and technology, today announced results for its second quarter ended on February 29, 2024. Key Highlights • Total revenues decreased 9 percent to $151.5 million on lower irrigation revenues • Increased Road Zipper SystemTM lease revenues support accretive sales mix shift and improved infrastructure results • Diluted earnings per share of

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