Lindsay (LNN) Tops Q4 EPS by 36c

Lindsay (NYSE: LNN) reported Q4 EPS of $1.35, $0.36 better than the analyst estimate of $0.99. Revenue for the quarter came in at $128.4 million versus the consensus estimate of $116.92 million.

Outlook:

“The recent increase in agricultural commodity prices along with additional government support payments to farmers under the expanded Coronavirus Food Assistance Program have raised estimates for U.S. farm income,” said Mr. Hassinger. “This supports an improved outlook for North America irrigation equipment demand for the fall selling season. We expect growth in international irrigation led by continued momentum in Brazil and other markets as well as new agricultural development being driven by heightened food security concerns as a result of the global coronavirus pandemic.”

Mr. Hassinger added, “Our infrastructure business achieved a record year in fiscal 2020, in large part due to our success in implementing the “shift left” strategy to expand our addressable market for Road Zipper® systems. We continue to be encouraged by the execution of this strategy, which has resulted in a higher quality sales funnel.”

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

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