Lindsay provides FY24 outlook

Lindsay CEO Randy Wood said, “Current commodity prices and U.S. net farm income projections, although lower compared to the marked strength seen a year ago, continue to support demand for irrigation equipment in North America. So far in Q1 of FY24, we are seeing order levels running ahead of the prior year. We expect sales volume levels in developed international markets to remain robust, led by strong demand in Brazil, and we continue to see project opportunities in developing markets supported by continuing global concerns over food security and global grain supplies. We expect to see a more meaningful positive impact of increased U.S. infrastructure spending on our infrastructure business in fiscal 2024, particularly in Road Zipper System leasing and sales of road safety projects. We also continue to actively manage projects in our Road Zipper System sales funnel, however the timing of when these projects will be executed is difficult to predict.”