CEO Wood Expects North America Irrigation Market to Remain Soft
CEO Wood concluded, "We expect North America irrigation market conditions to remain soft in the near term until growers gain further trade certainty and see improvement in commodity prices that support net farm income. We continue to expect growth in Brazil due to the solid drivers of secular demand that support investments in irrigation, although credit constraints will remain a headwind. Notably, we began delivery of the new irrigation project in the MENA region in our second quarter, and we expect to recognize approximately $70 million of revenue for the project in our current fiscal year. In infrastructure, we face a difficult revenue comparison in our second quarter, as a $20 million Road Zipper System project in the prior year quarter will not be replaced. We anticipate growth in Road Zipper leasing revenues and higher sales of road safety products to offset approximately half of the revenue impact of this project throughout the fiscal year. We continue to actively manage a robust pipeline of Road Zipper System projects, but we do not expect to deliver a large project in fiscal 2026."
Trade with 70% Backtested Accuracy
Analyst Views on LNN
About LNN
About the author

- Share Sale Overview: On February 3, Pier Capital disclosed in an SEC filing that it fully exited its position in Lindsay by selling 71,799 shares for an estimated $10.09 million, indicating a cautious outlook on the company's future performance.
- Asset Management Impact: The Lindsay stake represented approximately 1.58% of Pier Capital's AUM in the previous quarter, and its liquidation brings the stake to zero, reflecting uncertainty in the agricultural market outlook.
- Financial Performance Analysis: Lindsay reported revenue of $155.8 million for the most recent fiscal quarter, down 6% year-over-year, with irrigation revenue declining by 9%, despite a 17% increase in infrastructure revenue, highlighting market demand volatility.
- Capital Return Strategy: The company repurchased approximately $30 million in stock during the quarter and authorized a new $150 million buyback program, although backlog sharply decreased from $168.2 million to $119.2 million, raising concerns about future project deliveries.

- Revenue Performance: Lindsay Corporation reported total revenues of $155.8 million for Q1 2026, a 6% decline year-over-year primarily due to lower sales volumes in the irrigation segment affected by trade uncertainties and high costs, although the infrastructure segment showed a 17% increase, demonstrating the company's resilience in diversified markets.
- International Project Signing: The company secured an $80 million supply agreement for irrigation systems in the MENA region, with approximately $70 million expected to be realized this fiscal year, showcasing Lindsay's competitiveness in large-scale global projects and its critical role in sustainable agriculture and food security.
- Infrastructure Segment Growth: The infrastructure segment achieved revenues of $22.4 million in Q1, a 17% year-over-year increase driven by higher sales of road safety products, while revenues from the Road Zipper system remained flat compared to last year, indicating potential in the context of increased infrastructure investment.
- Share Buyback Program: Lindsay repurchased $30.3 million in shares during Q1 and announced a new buyback program of up to $150 million, reflecting the company's commitment to creating long-term value for shareholders while maintaining a strong financial position.
- Riley Exploration Dividend Announcement: The company's Board of Directors has approved a cash dividend of $0.40 per share, payable on February 5, 2026, which aims to reward shareholders and enhance investor confidence.
- Ellington Financial Monthly Dividend: The Board declared a monthly cash dividend of $0.13 per share, payable on February 27, 2026, reflecting the company's stable cash flow and ongoing commitment to shareholders.
- Lindsay Regular Dividend: The Board announced a quarterly cash dividend of $0.37 per share, scheduled for payment on February 27, 2026, demonstrating the company's strong performance in profitability and shareholder returns.
- AGNC Investment Dividend: The Board declared a cash dividend of $0.12 per share, payable on February 10, 2026, indicating the company's stable dividend policy amidst market fluctuations.
- Dividend Announcement: Lindsay Corporation's Board of Directors has declared a quarterly cash dividend of $0.37 per share, payable on February 27, 2026, reflecting the company's ongoing commitment to stable cash flow and shareholder returns.
- Shareholder Benefits: As of January 5, 2026, Lindsay Corporation had approximately 10.5 million shares outstanding, with the dividend benefiting all shareholders of record as of the close of business on February 13, 2026, thereby enhancing investor confidence.
- Company Background: Established in 1955, Lindsay Corporation is a leading global manufacturer of irrigation and infrastructure equipment, dedicated to meeting the food, fuel, and transportation needs of the world's rapidly growing population, underscoring its significant role in the industry.
- Market Leadership: As a global leader in both irrigation and transportation sectors, Lindsay Corporation continues to drive technological advancements through its innovative Zimmatic™ and FieldNET™ brands, enhancing its competitive edge in the market.

- Earnings Performance: Lindsay Corporation reported Q1 earnings of $16.5 million, or $1.54 per share, which, despite a year-over-year decline, exceeded analyst expectations of $1.48, demonstrating the company's resilience in challenging conditions.
- Revenue Decline: The company's revenue fell 6.3% year-over-year from $166.3 million to $155.8 million, indicating potential pressure from weak market demand that could impact future performance.
- Market Expectations: Despite the revenue drop, the earnings beat market expectations, suggesting that the company may have implemented effective cost control and operational efficiency measures, thereby boosting investor confidence.
- Future Outlook: The company needs to address the declining revenue trend and continue optimizing operational strategies to navigate market challenges, ensuring future profitability and growth potential.









