Lindsay reports Q4 EPS 99c, consensus $1.10

Reports Q4 revenue $153.6M, consensus $156.91M. “In Q4, our international irrigation business continued to deliver strong growth, led by marked improvement in South America and further supported by an increase in project revenues in the Middle East and North Africa (MENA) region,” said CEO Randy Wood. “North America irrigation revenues were down in the quarter in line with expectations, primarily due to lower storm damage replacement activity, but also reflecting the challenging market conditions that persist. Infrastructure revenues were also lower in the quarter, due primarily to the timing of Road Zipper project sales compared to last year. I am very pleased with our ability to deliver strong full-year results with record net earnings and earnings per share despite challenging market conditions in North America irrigation. This, in addition to a 15% growth in operating income while delivering year-over-year improvement in operating margin, serves as a testament to the resiliency of our operating model and the execution-focused mindset of our teams globally. Our performance also illustrates the value of the geographic diversification of our business. Our operating performance, along with effective working capital management, resulted in strong free cash flow generation which further enhances our ability to continue funding growth investments in innovation and other long-term shareholder value creation opportunities.”