Lindsay 10-K: Full-Year EPS Falls 25% to $5.33; Discloses R$49.1M Brazil Acquisition
LNN sits 15% above its 52-week low of $97.27 on elevated volume (2.0× avg).
Summary
Lindsay's fiscal 2026 10-K confirms a 25% drop in full-year EPS to $5.33 on 6% lower revenue, and for the first time discloses an October 19 agreement to acquire Brazil's Setorial Irrigação for about R$49.1 million.
Key Events · Earnings and Guidance · LNN
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Full-Year Earnings Drop 25%
Fiscal 2026 net earnings were $55.7 million, or $5.33 per diluted share, versus $74.1 million, or $6.78, a year earlier.
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Revenue Down 6%, Margins Compressed
Operating revenues fell to $635.9 million from $676.4 million, and gross margin slipped to 28.9% from 31.2% on higher input costs and fixed-cost deleverage.
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Brazil Acquisition Disclosed
On October 19, 2026, the company agreed to acquire 100% of Setorial Irrigação, a Brazilian hose-reel manufacturer, for approximately R$49.1 million excluding working capital adjustments, with closing expected by the end of calendar 2026.
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Backlog Slips to $102.5 Million
Order backlog was $102.5 million at August 31, 2026 versus $110.7 million a year earlier, mainly because the large MENA irrigation project shipped during fiscal 2026.
Analysis · LNN · Technology
The annual report confirms what the morning's 8-K and wire story already told investors: a weaker fiscal 2026, with revenue down 6% to $635.9 million and net earnings down 25% to $55.7 million ($5.33 per diluted share) as gross margin compressed to 28.9% from 31.2%. The genuinely new item sits in the subsequent-events note. On October 19, 2026, Lindsay signed a definitive agreement to buy 100% of Setorial Irrigação, a Brazilian hose-reel manufacturer, for roughly R$49.1 million excluding working capital adjustments, with closing expected by the end of calendar 2026. It is a modest bolt-on funded from a $189.8 million cash pile, but this is the first public disclosure of the deal, and it extends the irrigation segment into a market where Lindsay already manufactures. Backlog of $102.5 million is down from $110.7 million because the large MENA project shipped out. The company still has $100.0 million left on its buyback authorization after repurchasing $80.7 million of stock in fiscal 2026.
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In the 30 days to Oct 23, 2026, 29.6% of the 1590 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, LNN was trading at $111.99 on NYSE in the Technology sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $97.27 to $148.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.