Lindsay reports Q2 EPS $1.64, consensus $1.55

Reports Q2 revenue $151.5M, consensus $172.06M. “Demand for irrigation equipment in North America remained stable during our second quarter and in line with our expectations, supported by grower investment from the carryover impact of solid farm profits realized last year,” said CEO Randy Wood. “We continue to invest in our innovation strategy, driving value creation through our advanced technology platforms. During Q2 we successfully launched the next generation of our industry leading FieldNET platform that provides growers with an intuitive and easy-to-use interface with enhanced capabilities for precision irrigation management. In January, we announced plans to invest more than $50 million to expand and modernize our largest global manufacturing facility located in Lindsay, NE. This includes implementation of Industry 4.0 technologies, including data connectivity, analytics, artificial intelligence and additional automation and robotics. This investment will accelerate our ability to bring our latest innovations to market, and it aligns with our capital allocation priorities and commitment to leverage state-of-the art technology across our global operations.”