By Chris Wack
Shares of Lindsay retreated after the company reported a decline in earnings prior to the market's open.
The stock was down 9% at $111.22, and at one point slid to a 52-week low of $110.59, in Thursday morning trading. The shares are off by 10% in the past year.
Lindsay reported fourth-quarter earnings of $10.8 million, or 99 cents a share, compared with $12.7 million, or $1.17 a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $11.5 million.
Revenue for the quarter was $153.6 million, compared with last year's $155 million and the $156.9 million analysts were expecting.
Lindsay said North America irrigation revenue was down for the quarter, primarily due to lower storm damage replacement activity, but also reflecting the challenging market conditions that persist. Infrastructure revenue as also lower in the quarter, due primarily to the timing of Road Zipper project sales compared to last year.
Favorable weather conditions across much of the U.S. this growing season are expected to boost grain production and supply, the company said, keeping pressure on commodity prices. The effect of trade disruptions with major buyers of U.S. farm commodities might also negatively impact demand and thus prices.
Lindsay said it expects demand for irrigation equipment in North America to remain tempered until the outlook for commodity prices and farm incomes improves.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 23, 2025 11:01 ET (15:01 GMT)
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