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May 31
Lindsay Q3 2025 Earnings Report
Lindsay reported strong revenue growth in Q3 2025, primarily driven by international irrigation projects.
Key Takeaways
The company delivered a solid quarter with a 22% revenue increase, but net income declined slightly due to the absence of a prior year tax credit.
Revenue rose 22% year-over-year to $169.5M
International irrigation revenue surged 60%, driven by MENA projects
Operating income grew 19% despite a slight margin compression
Net income decreased slightly due to a one-time tax credit in the previous year
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
The company expects steady demand internationally, while North America remains cautious amid agricultural market volatility.
Positive Outlook
- Strong international irrigation demand, especially in MENA
- Improving market signals in Brazil
- Seasonal tailwinds from road construction in North America
- Successful project execution in MENA
- Global supply chain performance remained solid
Challenges Ahead
- North America demand constrained by net farm income outlook
- Tariff and trade uncertainty continue to pose risks
- Interest rates and credit constraints limit Brazil’s investment appetite
- Lower operating margin in infrastructure due to revenue mix
- Backlog declined due to MENA project completion
Revenue & Expenses
Visualization of income flow from segment revenue to net income