Agricultural equipment maker Lindsay misses Q4 revenue estimates, sees soft demand

Reuters
Oct 23
Agricultural equipment maker Lindsay misses Q4 revenue estimates, sees soft demand 

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.)

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