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Nov 30, 2022
Lindsay Q1 2023 Earnings Report
First quarter results were reported with net earnings more than doubling and EPS improving.
Key Takeaways
Lindsay Corporation reported a 6% increase in revenue to $176.2 million and net earnings more than doubled to $18.2 million, or $1.65 per diluted share, driven by strong demand for irrigation equipment and increased Road Zipper System sales.
Net earnings more than doubled to $18.2 million, with EPS improving to $1.65.
Irrigation revenues increased by 4% due to higher pricing and solid demand.
Infrastructure revenues increased by 19% driven by higher Road Zipper System sales.
Positive market fundamentals continue to support solid demand for irrigation equipment across core markets.
Lindsay
Lindsay
Lindsay Revenue by Segment
Lindsay Revenue by Geographic Location
Revenue by Segment
Irrigation Revenue
CapyFin.comInfrastructure Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Lindsay expects positive outlook for North America irrigation equipment demand in the near term. Growth in the infrastructure business is expected to be supported by an anticipated increase in U.S. infrastructure spending.
Positive Outlook
- Current commodity price levels support a positive outlook.
- Net farm income projections support a positive outlook.
- Demand in international markets is expected to be supported by expanded production.
- Positive agricultural market fundamentals will support demand in international markets.
- Continuing concerns over food security and global grain supplies will support demand in international markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income