Reported Q: Q4 2024 Rev YoY: -7.3% EPS YoY: -33.7% Move: +0.93%
Lindsay Corporation
LNN
$134.03 0.93%
Exchange NYSE Sector Industrials Industry Agricultural Machinery
Q4 2024
Published: Oct 24, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for LNN

Reported

Report Date

Oct 24, 2024

Quarter Q4 2024

Revenue

155.00M

YoY: -7.3%

EPS

1.16

YoY: -33.7%

Market Move

+0.93%

Previous quarter: Q3 2024

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Earnings Highlights

  • Revenue of $155.00M down 7.3% year-over-year
  • EPS of $1.16 decreased by 33.7% from previous year
  • Gross margin of 29.5%
  • Net income of 12.74M
  • "We are pleased with our fourth quarter and full year performance as our teams executed extremely well during the fiscal year. This allowed us to deliver profitable operating performance amidst challenging market fundamentals, particularly in our irrigation business." - Randy Wood
LNN
Company LNN

Executive Summary

Lindsay Corporation delivered a solid cash-generative quarter amid uneven market dynamics across its two primary segments. Total Q4 revenue was $154.998 million, down 7% year-over-year, with full-year revenue of $607.1 million, down 10% vs. the prior year. The irrigation segment faced pronounced international softness, particularly in Brazil, offset by North American volumes and a ramp in large international projects, notably in the Middle East and other developing markets. Infrastructure revenues rose 24% year-over-year in Q4, supported by Road Zipper system sales and lease activity, contributing to a healthier margin mix in the segment. Higher fixed-cost deleverage and ongoing SG&A investments related to project activity tempered consolidated margins, with full-year operating margin for irrigation at 17% and total company operating margin around 8.7% (EBITDA margin ~11.5%). Management emphasized disciplined price/cost management, investment in technology, and a robust funnel of future opportunities, including a sizable MENA project footprint extending into fiscal 2025 and a growing Road Zipper pipeline in the U.S. and internationally. Liquidity remained exceptionally strong: cash and equivalents stood at $190.9 million with total liquidity of $240.9 million, supporting a free cash flow of $66.8 million (101% of net earnings). The company repurchased $4.6 million of stock in the quarter and $22.5 million for the year. Looking ahead, Lindsay highlighted stronger U.S. infrastructure funding in fiscal 2025, a continued MENA project rollout, and a growing installed base of connected devices (over 140,000) with 28% ARR growth in fiscal 2024 as key catalysts for margin stability and long-term growth.

Key Performance Indicators

Revenue
Decreasing
155.00M
QoQ: 11.35% | YoY: -7.26%
Gross Profit
Decreasing
45.70M
29.48% margin
QoQ: -1.72% | YoY: -12.98%
Operating Income
Decreasing
13.50M
QoQ: -32.28% | YoY: -42.22%
Net Income
Decreasing
12.74M
QoQ: -37.50% | YoY: -33.77%
EPS
Decreasing
1.16
QoQ: -37.30% | YoY: -33.71%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2026 155.82 1.54 +11.9% View
Q2 2025 187.06 2.44 +23.5% View
Q1 2025 166.28 1.57 +3.1% View
Q4 2024 155.00 1.16 -7.3% View
Q3 2024 139.20 1.85 -15.4% View