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Lindsay Corp. (LNN)
NYSE:LNN
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Lindsay (LNN) AI Stock Analysis

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LNN

Lindsay

(NYSE:LNN)

Rating:71Outperform
Price Target:
$150.00
▲(9.10%Upside)
Lindsay Corporation's stock is supported by strong financial performance and positive earnings call insights, particularly due to international market growth and new projects. However, technical indicators suggest caution in the short term, and valuation metrics indicate the stock is fairly priced.
Positive Factors
Earnings
Lindsay reported strong fiscal third-quarter results, with revenue of $170 million above consensus of $157 million.
International Expansion
The sales and earnings beat was primarily driven by a 60% increase in international irrigation revenue due to strong project volumes in the MENA region.
Negative Factors
Domestic Market Challenges
The company’s domestic irrigation business faced headwinds from lower sales volumes of irrigation equipment, lower average selling prices, and lower sales of replacement parts; domestic irrigation revenue declined 7% year-over-year in the quarter.
Tariffs
Management discussed challenges related to tariffs impacting the company's operations.

Lindsay (LNN) vs. SPDR S&P 500 ETF (SPY)

Lindsay Business Overview & Revenue Model

Company DescriptionLindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand. It also offers repair and replacement parts for its irrigation systems and controls; global positioning system positioning and guidance, variable rate irrigation, wireless irrigation management, irrigation scheduling, and smartphone applications; and industrial Internet of Things technology solutions, data acquisition and management systems, and custom electronic equipment for applications under the Elecsys brand. The Infrastructure segment provides Quickchange moveable barrier systems that help in highway reconstruction, paving and resurfacing, road widening, median and shoulder construction, and tunnels and bridge repairs; and re-directive and non-re-directive crash cushions, which are used to enhance highway safety at locations, such as toll booths, freeway off-ramps, medians and roadside barrier ends, bridge supports, utility poles, and other fixed roadway hazards. It also offers specialty barrier products; road marking and road safety equipment; and railroad signals and structures, and diameter steel tubing products, as well as outsourced manufacturing and production services for other companies. The company serves departments of transportation, municipal transportation road agencies, roadway contractors, subcontractors, distributors, and dealers. Lindsay Corporation was founded in 1954 and is headquartered in Omaha, Nebraska.
How the Company Makes MoneyLindsay Corporation generates revenue through the sale of its irrigation systems and infrastructure products. The company's irrigation segment, which is its largest revenue stream, sells equipment like center pivots and lateral move systems to agricultural producers around the world. These systems are essential for efficient water management in farming, which is increasingly important in regions facing water scarcity. Additionally, Lindsay earns revenue from its infrastructure division, which manufactures transportation safety products, such as crash cushions and road safety barriers, sold to governments and private entities involved in infrastructure development. The company also benefits from significant partnerships with distributors and dealers, which help expand its market reach and drive sales growth.

Lindsay Earnings Call Summary

Earnings Call Date:Jun 26, 2025
(Q3-2025)
|
% Change Since: 0.15%|
Next Earnings Date:Oct 16, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue growth driven by international irrigation markets and infrastructure sales, with significant new project acquisition in the Middle East. However, challenges in the North American irrigation market and high interest rates in Brazil posed concerns. Overall, the positives in revenue growth and new projects slightly outweigh the negatives.
Q3-2025 Updates
Positive Updates
Revenue Growth
Consolidated revenues for the third quarter of fiscal 2025 increased 22% to $169.5 million compared to $139.2 million in the prior year.
Irrigation Segment Success
Irrigation segment revenues increased 25% to $143.7 million, driven by a 60% increase in international markets, particularly in the MENA region and Brazil.
Infrastructure Segment Performance
Infrastructure segment revenues increased 6% to $25.7 million, primarily from higher sales of road safety products.
New Project in the Middle East
Secured a new project in the Middle East valued at over $20 million, expected to begin shipping in the fiscal fourth quarter.
Operational Efficiencies
Operational efficiencies contributed to margin expansion, with improvements seen in the main factories in Brazil, Turkey, and the U.S.
Negative Updates
Domestic Irrigation Market Challenges
Softer demand in the North American irrigation market due to weather conditions and lower crop revenue projections.
Impact of High Interest Rates in Brazil
Brazil's benchmark interest rate increased by 25 basis points to 15%, impacting short-term demand for irrigation equipment.
Infrastructure Operating Margin Decline
Infrastructure segment operating margin declined to 21.1% from 25.8% due to a less favorable margin mix within Road Zipper System revenues.
Company Guidance
During the Lindsay Corporation's Fiscal Third Quarter 2025 earnings call, several key metrics and guidance were highlighted. Consolidated revenues increased by 22% to $169.5 million from $139.2 million in the previous year. The Irrigation segment saw a significant revenue growth of 25%, reaching $143.7 million, bolstered by a 60% increase in international markets, notably in Brazil and the Middle East and North Africa (MENA) region. This was partially offset by a $2.5 million impact from unfavorable foreign currency translation. The Infrastructure segment also experienced a 6% increase in revenues to $25.7 million, driven by road safety product sales. Despite a slight year-over-year decrease in net earnings to $19.5 million due to a prior-year tax credit, the current earnings per share increased by 26% after adjusting for the tax credit. The company noted ongoing robust demand in international markets and a strong project funnel in the MENA region, including a new $20 million project, while domestic irrigation demand was tempered by weather-related factors affecting crop yields and farm income. The balance sheet remains strong with $261 million in total available liquidity, supporting strategic capital allocation and growth initiatives.

Lindsay Financial Statement Overview

Summary
Lindsay demonstrates strong financial performance with steady revenue growth and robust profitability margins. The balance sheet is stable with low leverage and excellent cash flow management. Minor pressures on cost management and liabilities slightly detract from an otherwise strong financial health.
Income Statement
78
Positive
Lindsay demonstrates a strong financial performance with a steady increase in revenue, as seen with a 11.64% growth in TTM (Trailing-Twelve-Months) compared to the previous annual period. The gross profit margin is solid at 31.23%, and the net profit margin is healthy at 11.21%. Margins show profitability strength, with an EBIT margin of 13.32% and an EBITDA margin of 17.11%. However, the company saw a slight decrease in gross profit, indicating some pressure on cost management.
Balance Sheet
75
Positive
The balance sheet exhibits robust stability with a low debt-to-equity ratio of 0.26, indicating conservative leverage. The return on equity (ROE) is impressive at 14.37%, reflecting effective use of shareholder funds. The equity ratio stands at a strong 62.88%, suggesting a solid equity base. Minor increases in liabilities require monitoring, but overall, the financial health remains strong.
Cash Flow
82
Very Positive
Cash flow performance is notably strong, with a substantial 32.23% growth in free cash flow in TTM. The operating cash flow to net income ratio is 1.61, indicating efficient cash generation relative to profits. The free cash flow to net income ratio is 1.16, suggesting robust cash flow generation. The company effectively manages capital expenditures, enhancing its cash flow stability.
BreakdownSep 2024Sep 2023Sep 2022Sep 2021Sep 2020
Income Statement
Total Revenue607.07M674.08M770.74M567.65M474.69M
Gross Profit191.06M213.01M199.18M150.21M152.54M
EBITDA99.98M120.06M107.64M74.31M73.00M
Net Income66.26M72.38M65.47M42.57M38.63M
Balance Sheet
Total Assets760.23M745.66M710.65M637.18M570.53M
Cash, Cash Equivalents and Short-Term Investments190.88M166.31M116.51M146.71M140.91M
Total Debt134.39M136.11M135.37M134.03M141.74M
Total Liabilities279.34M290.01M317.30M298.74M272.01M
Stockholders Equity480.89M455.65M393.36M338.44M298.52M
Cash Flow
Free Cash Flow66.78M100.93M-12.55M17.46M24.59M
Operating Cash Flow95.76M119.71M3.05M43.97M46.03M
Investing Cash Flow-25.94M-47.42M-8.95M-27.62M-38.51M
Financing Cash Flow-38.64M-17.30M-12.69M-11.66M-13.44M

Lindsay Technical Analysis

Technical Analysis Sentiment
Positive
Last Price137.49
Price Trends
50DMA
139.15
Negative
100DMA
133.61
Positive
200DMA
129.94
Positive
Market Momentum
MACD
-0.61
Positive
RSI
46.73
Neutral
STOCH
50.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LNN, the sentiment is Positive. The current price of 137.49 is below the 20-day moving average (MA) of 140.92, below the 50-day MA of 139.15, and above the 200-day MA of 129.94, indicating a neutral trend. The MACD of -0.61 indicates Positive momentum. The RSI at 46.73 is Neutral, neither overbought nor oversold. The STOCH value of 50.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LNN.

Lindsay Risk Analysis

Lindsay disclosed 14 risk factors in its most recent earnings report. Lindsay reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Lindsay Peers Comparison

Overall Rating
UnderperformOutperform
Sector (67)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
$8.23B13.6615.24%1.52%5.95%-10.59%
72
Outperform
$2.63B22.8111.48%0.53%-6.43%-14.68%
72
Outperform
$139.52B24.9224.07%1.23%-22.26%-37.83%
71
Outperform
$1.49B19.8415.06%1.05%9.46%5.91%
70
Outperform
$202.01B20.8455.67%1.34%-5.58%-7.37%
67
Neutral
£2.85B10.424.69%215.06%2.73%-20.56%
58
Neutral
$8.24B46.40-13.60%1.05%-23.02%-152.78%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
LNN
Lindsay
137.49
13.94
11.28%
AGCO
Agco
112.38
11.59
11.50%
ALG
Alamo Group
219.56
27.49
14.31%
CAT
Caterpillar
429.52
90.36
26.64%
DE
Deere
514.66
143.13
38.52%
OSK
Oshkosh
127.83
14.09
12.39%

Lindsay Corporate Events

Executive/Board Changes
Lindsay Announces CFO Retirement Effective December 2025
Neutral
Jul 23, 2025

On July 23, 2025, Lindsay Corporation announced the upcoming retirement of Brian L. Ketcham, the Senior Vice President and Chief Financial Officer, effective December 31, 2025. To ensure a smooth transition, Ketcham will provide consulting services until December 31, 2026, receiving compensation and benefits during this period. His leadership has been pivotal in strengthening Lindsay’s financial strategy and global capabilities, and the company is now searching for his successor.

The most recent analyst rating on (LNN) stock is a Hold with a $126.00 price target. To see the full list of analyst forecasts on Lindsay stock, see the LNN Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 18, 2025