Lindsay Corp. ( (LNN) ) has released its Q4 earnings. Here is a breakdown of the information Lindsay Corp. presented to its investors.
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Lindsay Corporation is a prominent global manufacturer and distributor of irrigation and infrastructure equipment and technology, catering to the agricultural and transportation sectors with innovative solutions. In its latest earnings report, Lindsay Corporation announced a robust fiscal year with double-digit revenue growth and record earnings, despite facing challenges in certain markets. The company reported a 23% increase in international irrigation revenues for the fourth quarter, driven by strong performance in South America, the MENA region, and Australia. However, North American irrigation revenues were down due to lower storm damage replacement demand and soft market conditions. Infrastructure revenues also saw a decline, attributed to the absence of Road Zipper System project sales that occurred in the previous year. For the full year, Lindsay Corporation achieved an 11% increase in irrigation revenues and a 16% rise in infrastructure revenues, leading to record net earnings of $74.1 million and a 13% increase in earnings per share. The company also generated free cash flow amounting to 122% of net earnings, highlighting its strong financial position. Looking ahead, Lindsay Corporation remains optimistic about growth opportunities in developing international markets, although it anticipates continued challenges in North America due to commodity price pressures and trade disruptions. The company expects stable growth in its infrastructure business, with ongoing demand for Road Zipper System leasing and road safety products.