Lindsay Corp reported third-quarter fiscal 2026 results with revenue of $160.8M and diluted EPS of $1.53, both down versus the year‑ago quarter as weaker irrigation sales and margin pressures weighed on profitability. Net income for the quarter was $15.8M, a decline from the prior year.
Financial Highlights
- Revenue was $160.8M for Q3 FY2026, down from $169.5M in the year‑ago quarter ( (5%)).
- Net income was $15.8M for Q3 FY2026, down from $19.5M in the year‑ago quarter ( (19%)).
- Diluted EPS was $1.53 for Q3 FY2026, down from $1.78 in the year‑ago quarter ( (14%)).
Business Highlights
- Consolidated revenues declined 5% for the quarter and are down 9% year‑to‑date, driven primarily by weaker irrigation sales and mix shifts.
- North America irrigation volumes softened; international growth partly offset the decline but was constrained by credit issues in Brazil.
- Demand for infrastructure road safety products improved, though timing on the Road Zipper project created year‑over‑year volatility.
- Backlog was supported by large MENA irrigation projects totaling more than $180M combined, lifting backlog to $136M and underpinning future revenue recognition.
- Margins were pressured by higher input costs, fixed‑cost deleverage, and freight and currency headwinds.
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.