Lindsay Corporation, a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, announced results for its second quarter ended February 28, 2025.

Key Highlights

  • Quarterly net earnings increase 47 percent and diluted EPS increase 49 percent
  • International project volume in the Middle East and North Africa (MENA) region contributes to 11 percent revenue growth in irrigation
  • Infrastructure revenues more than double on the completion of a large Road Zipper System™ project
  • Plans are in place to mitigate the potential impact of tariffs and retaliatory actions

“Strength in international irrigation more than offset expected softness in the North America irrigation market, driving overall irrigation revenue growth in our fiscal second quarter," said Randy Wood, President and Chief Executive Officer. "During the quarter, we continued delivery of our large irrigation project in the MENA region in addition to realizing increased sales in other parts of this developing region. In Brazil, our unit sales volume was comparable to the prior year as market conditions improved during the quarter. Our infrastructure business delivered outstanding results in the quarter, evidenced by strong revenue growth and significant margin expansion, which was driven by the execution of a large Road Zipper System project that we delivered in the period."

Wood continued, "I am pleased with the resiliency and performance of our teams around the world, as we demonstrate our ability to capture and deliver on project opportunities in both of our businesses. Our strong execution on these projects allowed us to deliver margin expansion and net earnings growth despite a tempered demand environment in core irrigation markets."

Lindsay-Corporation-Q2-2025-results

Revenues for the second quarter of fiscal 2025 were $187.1 million, an increase of $35.5 million, or 23 percent, compared to revenues of $151.5 million in the prior year. Revenue growth in international irrigation and infrastructure was partially offset by lower revenue in North America irrigation.

Operating income for the second quarter of fiscal 2025 was $32.1 million, an increase of $10.0 million, or 45 percent, compared to operating income of $22.1 million in the prior year. Operating margin was 17.2 percent of sales, compared to 14.6 percent of sales in the prior year. The increase in operating income and margin resulted from higher revenues, a more favorable margin mix of revenues, and positive leverage of fixed operating expenses.

Net earnings for the second quarter of fiscal 2025 were $26.6 million, an increase of $8.5 million, or 47 percent, compared with net earnings of $18.1 million in the prior year. Diluted earnings per share for the quarter of $2.44 reflected an increase of 49 percent compared with $1.64 for the prior year.

Check out the full report for Lindsay Corporation's Q2 results.