Lindsay (LNN) Tops Q3 EPS by 68c; offers outlook

Lindsay (NYSE: LNN) reported Q3 EPS of $1.85, $0.68 better than the analyst estimate of $1.17. Revenue for the quarter came in at $139.2 million versus the consensus estimate of $144.38 million.

Outlook

Mr. Wood concluded, “We are now in the growing season in North America, when weather conditions will influence crop yields, production estimates and ultimately the direction of crop prices and net farm income for the year. We expect demand in North America to remain tempered until the outlook for net farm income improves. Similarly, we expect current market conditions in Brazil to temper demand for irrigation equipment in the near term, while we remain confident in the longer-term growth opportunity in that market. We expect continued growth in developing international markets driven by the ever-present need to address food security, as evidenced by the large project we secured in the MENA region.\"

“Supported by increased U.S. infrastructure spending, we expect continued growth in Road Zipper System lease revenues and sales of road safety products. We also remain optimistic regarding our Road Zipper System project sales pipeline; however the timing of individual project recognition remains challenging to predict.”

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

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