Lindsay Stock Price, News & Analysis

Lindsay (NYSE: LNN), a global manufacturer of irrigation and infrastructure equipment, announced a quarterly cash dividend of $0.36 per share. The dividend will be paid on November 29, 2024, to shareholders recorded as of November 15, 2024. The company currently has approximately 10.8 million shares outstanding traded on the NYSE under the symbol LNN.

Lindsay (NYSE: LNN) reported Q4 FY2024 results with revenues of $155.0 million, down 7% from $167.1 million in Q4 FY2023. Net earnings decreased to $12.7 million ($1.17 per share) from $19.2 million ($1.74 per share). North America irrigation revenues increased 2% to $61.7 million, while international irrigation revenues declined 23% to $64.2 million. Infrastructure segment showed improvement with revenues up 24% to $29.1 million. Full-year FY2024 revenues were $607.1 million, down 10% from $674.1 million, with net earnings of $66.3 million ($6.01 per share). The company's backlog increased to $180.9 million from $78.7 million year-over-year.

Lindsay (NYSE: LNN) has announced its plans to release financial results for the fiscal 2024 fourth quarter and fiscal year ended August 31, 2024. The results will be released before the market opens on Thursday, October 24, 2024. A conference call to discuss the results will be hosted by management, including Randy Wood, President and CEO, and Brian Ketcham, Senior VP and CFO, on the same day at 11:00 a.m. ET.

Investors can pre-register for the teleconference or dial in directly. The call will also be simulcast live online via the company's website. A slide presentation will be available to supplement the formal presentation, accessible through Lindsay's website. Replays of the conference call will remain available on the website until the next quarterly earnings release.

Lindsay (NYSE: LNN) has announced an increase in its regular quarterly cash dividend to $0.36 per share, up from the previous rate of $0.35. The new annual dividend rate is now $1.44 per share, compared to $1.40 previously. The dividend is payable on August 30, 2024, to shareholders of record as of August 16, 2024. The company has approximately 10.9 million shares outstanding as of June 25, 2024.

Lindsay reported its Q3 fiscal 2024 results, revealing significant financial details and strategic developments. The company achieved diluted earnings per share (EPS) of $1.85, a 21% increase from $1.53 in the prior year. A notable income tax credit in Brazil contributed $4.8 million to net earnings. Despite achieving a multi-year international irrigation supply agreement worth over $100 million, the firm's total revenues declined by 15% to $139.2 million due to softness in the global irrigation market, particularly in North America and Brazil.

The irrigation segment experienced a revenue drop of 19% to $114.8 million, while the infrastructure segment saw an 11% rise to $24.4 million. Operating income fell by 26% to $19.9 million, mainly due to lower irrigation segment revenues. Nevertheless, net earnings rose to $20.4 million, reflecting a 21% increase from the previous year. Lindsay completed $17.9 million in share repurchases and reported a backlog of $246.9 million in orders. The company expects continued growth in its infrastructure segment, driven by increased U.S. infrastructure spending and international projects.

Lindsay (NYSE: LNN) has installed its first TAU-XR Xpress Repair Crash Cushion in Las Vegas, Nevada. The TAU-XR, designed for quick installation and cost-effective repairs, enhances road safety with its dual-rail configuration and innovative attenuation. It offers a range of transition options up to 52 inches and can be installed in 30 minutes or less. The crash cushion, tested for both asphalt and concrete, ensures long-term durability and low maintenance costs. This installation marks a significant step in Lindsay's commitment to road safety and efficient maintenance operations.

Lindsay (NYSE: LNN) will release its fiscal 2024 third quarter financial results on June 27, 2024, before market open.

Company executives, including CEO Randy Wood and CFO Brian Ketcham, will host a conference call to discuss these results at 11:00 a.m. ET the same day.

Investors can pre-register for the call or dial in directly using specific numbers for the U.S., international, and Canadian participants.

The call will also be webcast live and accessible via the investor relations section of Lindsay's website, where a replay will be available until the next earnings release.

A slide presentation will accompany the call, available on the company's website.

Lindsay announces a historic multi-year supply agreement valued at over $100 million to deliver Zimmatic™ irrigation systems and FieldNET™ remote management technology in the Middle East and North Africa (MENA) region. The project supports localized food production and water conservation efforts. Pivot shipments will begin in Q4 2024 and continue through 2025. This significant contract showcases Lindsay's capacity to undertake large-scale projects and addresses food security challenges in water- areas, leveraging advanced AI-driven agronomic data for precision farming.

Lindsay (NYSE: LNN) announced updates to its FieldNET Advisor™, an award-winning irrigation management solution, on May 16, 2024. These enhancements aim to improve irrigation decisions for growers, offering real-time data upgrades, whole farm management, and simplified subscriptions.

Key improvements include easy enrollment, satellite imagery for real-time crop water usage, mobile device accessibility, and the integration of local weather data. These features are designed to help reduce input costs, conserve resources, and optimize water use, ultimately supporting healthier crops and boosting profitability.

FieldNET Advisor combines advanced technology and agronomics, expanding its traditional pivot capabilities to provide smarter, more sustainable farming practices. The updates reflect Lindsay's commitment to incorporating grower feedback to refine its offerings and maximize yields.