Key Takeaways:
- Lindsay Corporation (NYSE: LNN) reported record net earnings of $74.1 million and diluted earnings per share of $6.78 for fiscal year 2025, up 12% and 13% year-over-year, respectively.
- Irrigation segment revenues grew 11% for the year, reaching $129 million in Q4 and $676.4 million for the full year, driven by strong project sales in the MENA region and increased demand in South America and Australia.
- International irrigation revenues rose 23% in Q4, offsetting weaker results in North America, where revenues fell 19% amid soft market conditions and reduced storm-replacement activity.
- The irrigation segment maintained a 13.7% operating margin in Q4, reflecting steady operational performance despite regional market headwinds.
- CEO Randy Wood cited geographic diversification and strong international demand as key contributors to Lindsay’s resilience and record results.
International Markets Drive Lindsay’s Agricultural Segment
In its fiscal 2025 results, Lindsay Corporation (NYSE: LNN) reported that its irrigation business—encompassing both mechanized systems and precision agriculture solutions—continued to outperform, supported by strong demand in international markets.
International irrigation revenues increased 23% year-over-year in Q4 to $79 million, led by robust growth in South America, the Middle East and North Africa (MENA), and Australia. Project activity in the MENA region, including large-scale system deliveries, was a major contributor to full-year revenue growth.
Meanwhile, North America irrigation revenues declined 19% in the fourth quarter to $50 million, reflecting lower storm damage replacement demand and continued pressure from soft commodity prices and credit constraints.
Full-Year Irrigation Performance
For the full fiscal year, irrigation revenues rose 11%, driven primarily by:
- Higher project sales in MENA, reflecting strong regional investment in water-efficient irrigation systems.
- Increased sales volume in Brazil and other parts of South America, where irrigation adoption continues to expand.
- Modest price increases that helped offset volume declines in the North American market.
Operating income in the irrigation segment rose 4% in Q4 to $17.7 million, maintaining a 13.7% operating margin compared with 13.6% in the prior year. For the full year, operating margins remained stable at 13.0%, supported by effective cost management and improved leverage of fixed expenses.
Strategic Outlook For Lindsay Corporation: Diversified Growth and Global Resilience
Commenting on results, Randy Wood, President and CEO, said: “Our international irrigation business continued to deliver strong growth, led by South America and the Middle East. This performance, alongside disciplined cost control and diversification, allowed us to achieve record earnings despite challenges in North America.”
Looking ahead, Lindsay Corporation expects continued growth in international markets, particularly in developing regions where demand for water-efficient systems remains high. In contrast, North American irrigation demand is likely to remain tempered in the near term due to commodity price pressures and farm income uncertainty.
Read the complete financial results.
