Loading...
•
May 31, 2021
Lindsay Q3 2021 Earnings Report
Lindsay Corporation's third quarter results for fiscal year 2021 increased due to healthy agricultural market and positive grower sentiment.
Key Takeaways
Lindsay Corporation's Q3 2021 revenues increased by 32% to $161.9 million, with EPS of $1.61. The growth was driven by higher agriculture commodity prices and improved demand for irrigation equipment across all geographies. Irrigation revenues increased significantly in both North America and international markets, while infrastructure revenues decreased due to coronavirus-related project delays.
Consolidated revenues increased 32% to $161.9 million, with EPS of $1.61.
Higher agriculture commodity prices drove improved demand for irrigation equipment across all geographies.
Irrigation revenues increased 39% in North America and 62% in international markets.
Infrastructure revenues decreased 21% due to coronavirus-related project delays.
Lindsay
Lindsay
Lindsay Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Market conditions support continued robust demand for irrigation equipment, and we also expect raw material inflation and supply chain challenges to persist through the balance of our fiscal year. We remain optimistic about the outlook for our infrastructure business, particularly as coronavirus restrictions are lifted and road construction activity returns to more normal levels.
Positive Outlook
- Market conditions support continued robust demand for irrigation equipment
- Optimistic about the outlook for our infrastructure business
- Coronavirus restrictions are lifted
- Road construction activity returns to more normal levels
- Financial position remains strong
Challenges Ahead
- Raw material inflation
- Supply chain challenges
- Coronavirus-related delays
- Less favorable margin mix of revenues compared to the prior year
- Infrastructure backlog is lower due to two large orders in the prior year that did not repeat
Revenue & Expenses
Visualization of income flow from segment revenue to net income