Welcome to our dedicated page for Lindsay news (Ticker: LNN), a resource for investors and traders seeking the latest updates and insights on Lindsay stock.
Lindsay Corporation (NYSE: LNN) is described in its public communications as a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. News about LNN often highlights developments across its two reportable segments, Irrigation and Infrastructure, as well as capital allocation decisions and corporate governance updates.
On this page, readers can follow company-issued press releases and other coverage related to Lindsay’s irrigation business, which includes Zimmatic™ center pivot and lateral move systems, FieldNET™ and FieldWise™ remote irrigation management platforms, FieldNET Advisor™ scheduling technology and SmartPivot™ solutions such as TowerWatch™. News items also discuss large-scale irrigation and technology projects in regions such as the Middle East and North Africa, South America and Brazil, where Lindsay supplies Zimmatic systems and FieldNET technology to support localized food production and sustainable agriculture initiatives.
For the Infrastructure segment, news typically covers sales and leasing activity for Road Zipper System™ projects, demand for road safety products, and performance of brands such as Barrier Systems™, Road Zipper™ and Snoline™. Earnings releases provide segment revenue trends, operating margins and commentary on market conditions in North America and international markets.
Investors and analysts can also use this news feed to monitor announcements about quarterly and annual financial results, regular cash dividends, share repurchase authorizations, executive appointments, board changes and management incentive plans, many of which are also reflected in related Form 8-K filings. Bookmarking this page allows users to quickly review Lindsay Corporation’s latest company-reported developments in irrigation technology, transportation infrastructure equipment and corporate strategy.
Lindsay reported its Q3 fiscal 2024 results, revealing significant financial details and strategic developments. The company achieved diluted earnings per share (EPS) of $1.85, a 21% increase from $1.53 in the prior year. A notable income tax credit in Brazil contributed $4.8 million to net earnings. Despite achieving a multi-year international irrigation supply agreement worth over $100 million, the firm's total revenues declined by 15% to $139.2 million due to softness in the global irrigation market, particularly in North America and Brazil.
The irrigation segment experienced a revenue drop of 19% to $114.8 million, while the infrastructure segment saw an 11% rise to $24.4 million. Operating income fell by 26% to $19.9 million, mainly due to lower irrigation segment revenues. Nevertheless, net earnings rose to $20.4 million, reflecting a 21% increase from the previous year. Lindsay completed $17.9 million in share repurchases and reported a backlog of $246.9 million in orders. The company expects continued growth in its infrastructure segment, driven by increased U.S. infrastructure spending and international projects.
Lindsay (NYSE: LNN) has installed its first TAU-XR Xpress Repair Crash Cushion in Las Vegas, Nevada. The TAU-XR, designed for quick installation and cost-effective repairs, enhances road safety with its dual-rail configuration and innovative attenuation. It offers a range of transition options up to 52 inches and can be installed in 30 minutes or less. The crash cushion, tested for both asphalt and concrete, ensures long-term durability and low maintenance costs. This installation marks a significant step in Lindsay's commitment to road safety and efficient maintenance operations.
Lindsay (NYSE: LNN) will release its fiscal 2024 third quarter financial results on June 27, 2024, before market open.
Company executives, including CEO Randy Wood and CFO Brian Ketcham, will host a conference call to discuss these results at 11:00 a.m. ET the same day.
Investors can pre-register for the call or dial in directly using specific numbers for the U.S., international, and Canadian participants.
The call will also be webcast live and accessible via the investor relations section of Lindsay's website, where a replay will be available until the next earnings release.
A slide presentation will accompany the call, available on the company's website.
Lindsay announces a historic multi-year supply agreement valued at over $100 million to deliver Zimmatic™ irrigation systems and FieldNET™ remote management technology in the Middle East and North Africa (MENA) region. The project supports localized food production and water conservation efforts. Pivot shipments will begin in Q4 2024 and continue through 2025. This significant contract showcases Lindsay's capacity to undertake large-scale projects and addresses food security challenges in water- areas, leveraging advanced AI-driven agronomic data for precision farming.
Lindsay (NYSE: LNN) announced updates to its FieldNET Advisor™, an award-winning irrigation management solution, on May 16, 2024. These enhancements aim to improve irrigation decisions for growers, offering real-time data upgrades, whole farm management, and simplified subscriptions.
Key improvements include easy enrollment, satellite imagery for real-time crop water usage, mobile device accessibility, and the integration of local weather data. These features are designed to help reduce input costs, conserve resources, and optimize water use, ultimately supporting healthier crops and boosting profitability.
FieldNET Advisor combines advanced technology and agronomics, expanding its traditional pivot capabilities to provide smarter, more sustainable farming practices. The updates reflect Lindsay's commitment to incorporating grower feedback to refine its offerings and maximize yields.
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