Key Takeaways
- Lindsay Corporation reported Q2 fiscal 2026 revenue of $157.7 million, a 16 percent decrease compared to the prior year.
- Irrigation revenues declined 5 percent as weak commodity prices and high interest rates constrained demand in North America and Brazil.
- Infrastructure revenue, excluding a $20 million Road Zipper System project from the prior year, grew 6 percent driven by road safety products.
- Lindsay Corporation completed $25.2 million in share repurchases during the quarter, with $125 million remaining under its $150 million authorization.
- The company's unfulfilled order backlog stood at $151.8 million, up from $127.0 million in the prior year, driven by a large irrigation project in the MENA region.
Lindsay Corporation Posts Lower Q2 Revenue Amid Soft Irrigation Market
Lindsay Corporation (NYSE: LNN) reported second quarter fiscal 2026 revenues of $157.7 million, a decrease of $29.3 million, or 16 percent, compared to $187.1 million in the prior year. The decrease was driven by lower revenues in both the irrigation and infrastructure segments. Net earnings were $12.0 million, or $1.15 per diluted share, compared to $26.6 million, or $2.44 per diluted share, in the prior year.
Operating income fell 59 percent to $13.0 million, with operating margin at 8.3 percent compared to 17.2 percent in the prior year.
Lindsay Corporation's Irrigation Segment Under Pressure
Irrigation segment revenues were $141.2 million, down 5 percent from $148.1 million in the prior year. North America irrigation revenues declined 8 percent to $71.0 million, driven primarily by lower unit sales volume, though partially offset by higher average selling prices. Persistent weakness in commodity markets and tempered farmer sentiment continue to constrain demand.
