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Feb 28, 2021
Lindsay Q2 2021 Earnings Report
Second quarter operating income increased due to a 26 percent increase in revenues, improved agricultural market conditions that drove improved Irrigation performance, and Infrastructure results fueled by increase in Road Zipper System® sales and leases.
Key Takeaways
Lindsay Corporation reported a strong second quarter in fiscal year 2021, with revenues increasing by 26% to $143.6 million and net earnings reaching $11.9 million, or $1.08 per diluted share, driven by improved agricultural market conditions and higher Road Zipper System® sales and lease revenue.
Operating income increased 83 percent due to revenue growth.
Improved agricultural market conditions boosted Irrigation performance.
Infrastructure results were driven by increased Road Zipper System sales and leases.
Strong demand for irrigation equipment was experienced in North America and most international 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
Solid agricultural market fundamentals are expected to drive improved irrigation equipment demand for the balance of the year, while the infrastructure business anticipates continued coronavirus-related delays in road construction activity and projects.
Positive Outlook
- Solid agricultural market fundamentals set the stage for improved irrigation equipment demand for the balance of the year.
- Teams have been effective in working through issues related to higher raw material and freight costs, along with supply chain constraints.
- Sales pipeline remains robust.
- Financial position remains strong.
- Innovation growth strategy addresses global megatrends and provide solutions that improve customer profitability and assist in their sustainability efforts.
Challenges Ahead
- Significantly higher raw material and freight costs continue to present challenges.
- Supply chain constraints continue to present challenges.
- Continued coronavirus-related delays in road construction activity are expected.
- Continued coronavirus-related delays in projects are expected.
- Two large infrastructure orders in the prior year totaling $38 million did not repeat.
Revenue & Expenses
Visualization of income flow from segment revenue to net income