Lindsay Corp Beats Q3 Revenue & EPS Estimates, Reports $25.2M Share Buyback
LNN sits 25% above its 52-week low of $97.27.
Summary
Lindsay Corp announced Q3 results, beating analyst estimates for both revenue and EPS, while also completing a significant $25.2 million in share repurchases.
Key Events · Earnings and Guidance · LNN
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Q3 Financial Performance
Total revenues decreased 5% year-over-year to $160.8 million, and diluted earnings per share fell 14% to $1.53.
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Exceeded Analyst Estimates
Actual Q3 revenue of $160.8 million surpassed the $157.80 million analyst estimate, and diluted EPS of $1.53 beat the $1.14 estimate.
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Significant Share Repurchases
The company completed $25.2 million in share repurchases during the quarter, bringing the fiscal year total to $80.7 million.
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Segment Performance
Irrigation revenues decreased 7% due to challenging North American and Brazilian markets, while Infrastructure revenues grew 8% driven by road safety products.
Analysis · LNN · Technology
Lindsay Corp reported a 5% year-over-year decline in Q3 revenues and a 14% drop in diluted EPS. However, these results significantly exceeded analyst expectations, with revenue of $160.8 million surpassing the $157.80 million estimate and EPS of $1.53 beating the $1.14 estimate. The company also completed $25.2 million in share repurchases during the quarter, contributing to a fiscal year total of $80.7 million, demonstrating a commitment to returning capital to shareholders despite challenging market conditions in its irrigation segment. The increased backlog, driven by the MENA project, provides a positive outlook for future revenue recognition.
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At the time of this filing, LNN was trading at $121.58 on NYSE in the Technology sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $97.27 to $149.56. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.