Key Takeaways:
- Lindsay Corporation Q1 revenues declined 6 percent year over year, driven by lower irrigation segment revenues.
- Irrigation operating margin improved despite softer demand in North America and select international markets.
- Infrastructure segment revenues increased 17 percent on higher road safety product sales.
- An $80 million irrigation and technology project was secured in the MENA region after quarter-end.
- The company completed $30 million in share repurchases during the quarter.
Lindsay Corporation Reports First Quarter Fiscal 2026 Performance
Lindsay Corporation (NYSE: LNN) reported financial results for the first quarter of fiscal 2026, which ended on November 30, 2025. Total revenues for the quarter were $155.8 million, down 6 percent compared to the prior year period, primarily reflecting lower irrigation revenues that were partially offset by growth in the infrastructure segment.
Operating income totaled $19.6 million, compared to $20.9 million in the first quarter of fiscal 2025, while operating margin remained flat at 12.6 percent. Net earnings were $16.5 million, or $1.54 per diluted share, compared to $17.2 million, or $1.57 per diluted share, in the prior year.
Lindsay Corporation Highlights Segment-Level Trends
Irrigation Segment Performance
Irrigation segment revenues totaled $133.4 million, a 9 percent decline year over year. North America irrigation revenues decreased 4 percent to $74.3 million, primarily due to lower unit volumes, partially offset by higher average selling prices. International irrigation revenues declined 15 percent to $59.1 million, driven mainly by lower sales volumes in Brazil and the timing of project activity in the Middle East and North Africa (MENA) region.
