Overview
Lindsay Q4 revenue misses analyst expectations, down 1% yr/yr
International irrigation revenues up 23%, driven by South America and MENA region
Infrastructure revenues down 16% due to lower Road Zipper System sales
Outlook
Company expects North American irrigation demand to remain tempered due to commodity price pressure
Lindsay anticipates stable growth in Road Zipper System leasing and road safety products
Company sees continued growth in Brazil despite high interest rates and credit constraints
Result Drivers
INTERNATIONAL IRRIGATION GROWTH - Strong growth in South America and MENA region boosts international irrigation revenues
NORTH AMERICA IRRIGATION DECLINE - Lower storm damage replacement demand and soft market conditions impact North America irrigation revenues
INFRASTRUCTURE REVENUE DECREASE - Infrastructure revenues down due to absence of prior year Road Zipper System project sales
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Miss | $153.60 mln | $156.91 mln (4 Analysts) |
Q4 EPS | $0.99 | ||
Q4 Net Income | $10.80 mln | ||
Q4 Operating Income | $11.30 mln | ||
Q4 Operating Margin | 7.40% |
Press Release: ID:nBw6gfKs1a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)