Lindsay reports Q4 EPS $1.74, consensus $1.11

Reports Q4 revenue $167.1M, consensus $157.8M. “We are pleased to report strong performance in our fiscal fourth quarter and solid momentum as we head into FY24, driven by our irrigation business. Our strong quarterly performance reflected growth in international irrigation markets led by South America, and Brazil in particular where we achieved record Q4 revenue. Demand for irrigation equipment in North America remained steady in the fourth quarter, in line with our expectations. Record Q4 operating income and operating margin in irrigation is a testament to effective price management and operating performance, while also reflecting the impact of increasing geographic diversification through strategic growth in international markets,” said Randy Wood, CEO. “Infrastructure results for the fourth quarter reflected the impact of Road Zipper System(TM) projects in the prior year that did not repeat, while Road Zipper System leasing revenue continued to show solid growth and partially offset the overall decrease in revenue. For the full year, I am pleased with our ability to deliver new records in net earnings and EPS, as our performance overcame softer revenues compared to last year’s record levels. This record earnings and income performance was led by record full year operating income and operating margin in irrigation with gross margin expansion across the business. This improved operating performance, along with effective working capital management, resulted in free cash flow generation that exceeded our objective for the year. This performance demonstrated our ability to continue funding growth investments in innovation and other long-term shareholder value creation opportunities.”