Lindsay Q2 revenue falls 16% to $157.7 million; diluted EPS down 53% to $1.15
Lindsay Corporation reported fiscal 2026 second-quarter results for the quarter ended February 28, 2026, with revenue of $157.7 million, down 16% from $187.1 million a year earlier. Operating income fell 59% to $13.0 million and net earnings fell 55% to $12.0 million, weighed down by a sharp drop in infrastructure sales after a prior-year $20 million Road Zipper System project that did not repeat. Management said it expects about $70 million of revenue from the Middle East and North Africa irrigation project in fiscal 2026 and does not expect a large infrastructure project this year.
Key points
- Revenue $157.7 million, down $29.3 million or 16%; irrigation revenue $141.2 million, down 5%; infrastructure revenue $16.5 million, down 58%
- Operating income $13.0 million, down 59%; operating margin 8.3% versus 17.2% a year earlier
- Diluted EPS $1.15 versus $2.44 a year earlier; repurchased $25.2 million of shares in the quarter and $55.5 million for the fiscal year to date
- Expects approximately $70 million of revenue from the MENA irrigation project in fiscal 2026; backlog $151.8 million at February 28, 2026, versus $127.0 million a year earlier
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 02, 2026.
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