Lindsay (LNN) Misses Q1 EPS by 10c

Lindsay (NYSE: LNN) reported Q1 EPS of $0.65, $0.10 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $108.5 million versus the consensus estimate of $113.07 million.

Outlook:

“Our backlog of irrigation equipment orders in North America supports solid revenue growth for our second quarter. We also expect improved activity levels to continue in international irrigation markets. At the same time, we are seeing rapid and significant increases in steel and freight costs that will pressure margins in the short term until pricing actions are fully implemented.” said Mr. Wood. “In our infrastructure business, we continue to be encouraged by the quality of our Road Zipper® sales funnel. However, the timing of those projects can be difficult to predict, particularly in the current environment with coronavirus-related effects on road construction activity.

“Our financial position remains strong, providing support for our innovation growth strategy across our businesses that address global megatrends and provide solutions that conserve natural resources.”

For earnings history and earnings-related data on Lindsay (LNN) click here.

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