Lindsay (LNN) Misses Q1 EPS by 16c, Revenue Beats

Lindsay (NYSE: LNN) reported Q1 EPS of $0.72, $0.16 worse than the analyst estimate of $0.88. Revenue for the quarter came in at $166.2 million versus the consensus estimate of $140.44 million.

Outlook:

“Market conditions support continued solid demand for irrigation equipment, and we also expect raw material cost inflation and supply chain challenges to persist in the near term. We are focused on protecting and improving margins in this environment,” said Mr. Wood. “Regarding our infrastructure business, we continue to expect an increase in project activity in the second half of the fiscal year.”

Mr. Wood concluded, “We are sharply focused on our innovation growth strategy that addresses the needs of a growing population and provides solutions that improve efficiency and promote sustainability.”

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

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