Lindaay Corp. (LNN) Misses Q1 EPS by 6c, Beats on Revenues
Lindaay Corp. (NYSE: LNN) reported Q1 EPS of $0.30, $0.06 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $124.5 million versus the consensus estimate of $117.13 million.
Outlook
Tim Hassinger, President and Chief Executive Officer, commented, “We were pleased to see our fiscal year get off to a solid start in the first quarter, particularly in North America irrigation where we saw significant improvement in order flow and irrigation system sales compared to the prior year. We were also pleased to receive the order for the Alex Fraser Bridge project, which positions us well for growth in our infrastructure segment this year.”
Hassinger continued, “Although commodity prices remain constrained as a result of strong yields this past growing season, grower sentiment toward capital investment is showing signs of improvement. As meaningful change in commodity prices is not expected in the near term, we will continue our focus of bringing value-added technology solutions to our customers and improving our operating performance in the current market environment.”
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