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Nov 30, 2025
Lindsay Q1 2026 Earnings Report
Lindsay reported lower revenues and earnings as irrigation sales declined, though infrastructure growth and improved margins supported profitability.
Key Takeaways
Lindsay Corporation faced a 6% revenue decline in Q1 FY2026 due to reduced irrigation sales in North America and Brazil. However, strong performance in infrastructure and improved margins helped cushion the impact.
Revenue declined 6% YoY to $155.8M due to softer irrigation demand.
Net income reached $16.5M, with diluted EPS at $1.54.
Infrastructure segment revenue increased 17% with higher road safety product sales.
An $80M MENA irrigation project was secured post-quarter end, boosting backlog.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Management expects continued softness in North America irrigation while infrastructure faces a tough YoY comparison. New MENA project will support FY revenue.
Positive Outlook
- Delivery of new $80M irrigation project in MENA began in Q2
- Expect ~$70M of MENA project revenue to be recognized in FY26
- Strong secular demand trends in Brazil continue long-term
- Infrastructure segment expected to benefit from product diversification
- Solid backlog in irrigation supports visibility
Challenges Ahead
- North American irrigation market remains soft due to trade uncertainty and low commodity prices
- Brazil faces continued pressure from high interest rates and limited credit availability
- MENA project timing caused lower YoY revenue in Q1
- Q2 infrastructure revenue will face tough comparison due to a $20M Road Zipper project last year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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