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Lindsay Corporation Reports Fourth Quarter and Fiscal Year 2026 Results

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  • Lindsay Corporation reported fourth-quarter fiscal 2026 results ending August 31, 2026, with consolidated revenues of $161.6 million, a 5% increase year-over-year.
  • Fourth-quarter operating income rose 39% to $15.8 million, while net earnings increased 4% to $11.3 million.
  • Earnings per share for the quarter were $1.10, an 11% increase compared to $0.99 in the prior year.
  • North America irrigation revenues grew 11% in the quarter due to stronger commodity prices and improved farmer sentiment.
  • International irrigation revenues remained comparable to the prior year, with MENA region growth offset by pressure in Brazil from limited credit availability.
  • Infrastructure revenues increased 13% in the quarter, marking the third consecutive quarter of growth in road safety products.
  • Full-year fiscal 2026 revenues decreased 6% to $635.9 million, driven by a 4% drop in North America irrigation sales and a 13% decline in infrastructure revenues.
  • Full-year operating income fell 24% to $66.9 million, primarily due to lower revenues from a non-repeating $20.0 million Road Zipper project in the prior year.
  • Full-year net earnings declined 25% to $55.7 million, with diluted earnings per share dropping 21% to $5.33.
  • The company returned $96.1 million to shareholders through $80.7 million in share repurchases and $15.4 million in dividends.
  • A global restructuring implemented in June reduced the workforce to generate approximately $8.0 million in net annualized savings.
  • The backlog of unfilled orders as of August 31, 2026, stood at $102.5 million, down from $110.7 million the previous year.
  • Management expects North America irrigation demand to remain tempered until commodity price outlooks improve, while noting Brazil remains central to long-term international growth.
  • The company announced a new $150.0 million share repurchase authorization, with $100.0 million remaining available at the end of the fiscal year.
  • Lindsay completed delivery of approximately $70 million of an $80 million project in the Middle East North Africa region.