NYSE$LNN
Lindsay Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a 24% increase in net earnings driven by operating income growth.
Lindsay Corporation reported a 24% increase in net earnings for the second quarter of fiscal year 2023, reaching $18.1 million, with EPS improving to $1.63. This growth was driven by marked expansion in operating income, despite a decline in total revenues compared to the previous year. Improved price realization and reduced inflationary headwinds contributed to operating income growth and margin expansion across both business segments.
- Second quarter net earnings increased 24 percent to $18.1 million and EPS improved to $1.63.
- Irrigation operating income increased 33 percent despite lower revenues.
- Infrastructure operating income improves on increased Road Zipper System® lease revenue.
- Operating margin expanded 720 basis points compared to the prior year quarter.
Headline financials
Revenue & EPS history
Lindsay · Revenue · Quarterly
$166M
Revenue by segment
Lindsay · $166M total across 2 segments · Q2 2023
- Irrigation$148M—88.9%
- Infrastructure$18.5M—11.1%
Forward guidance
Lindsay Corporation anticipates some impact from market delays in Brazil to continue into their third quarter, but their full year outlook remains unchanged. They are encouraged by the outlook for their infrastructure business due to anticipated increases in U.S. infrastructure spending and the strength of their sales funnel.
Tailwinds
- Strength in U.S. net farm income supports continued investment in irrigation equipment.
- Demand strength across international markets is supported by expanded production.
- Positive agricultural market fundamentals and continuing global concerns over food security and global grain supplies.
- Anticipated increases in U.S. infrastructure spending.
- Strength of sales funnel.
Headwinds
- Domestic net farm income is projected to decline in 2023 from record levels in 2022.
- Market delays in Brazil are expected to continue into the third quarter.
- Lower revenues in irrigation business were due to international project business in the prior year that did not repeat.
- Seasonal volume shifts in North America and Brazil.
- Timing of project execution can be difficult to predict.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2023
-0.0%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+2.4%
Avg return
30 days after
45%
29 / 64 earnings
Positive
+16.9%
Q3 2012
Best reaction
-15.4%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | — | — | — | |
| Q2 2026 | -12.2% | +2.8% | — | |
| Q1 2026 | +7.0% | +4.1% | +13.1% | |
| Q4 2026 | -4.6% | -10.7% | -8.1% | |
| Q3 2025 | -0.3% | +0.8% | +3.4% | |
| Q2 2025 | -0.9% | -10.8% | +1.8% | |
| Q1 2025 | +4.8% | +4.6% | +11.9% | |
| Q4 2024 | +6.3% | +3.5% | +14.1% | |
| Q3 2024 | +8.5% | +1.7% | +10.3% | |
| Q2 2024 | +0.8% | +2.8% | +2.5% | |
| Q1 2024 | +8.3% | +7.6% | +7.3% | |
| Q4 2023 | +8.1% | +16.9% | +18.7% | |
| Q3 2023 | -4.3% | -4.6% | +5.0% | |
| Q2 2023 | -15.4% | -14.6% | -21.2% | |
| Q1 2023 | -4.0% | -4.5% | -0.1% | |
| Q4 2022 | -1.4% | -1.1% | +9.8% | |
| Q3 2022 | +14.1% | +8.3% | +26.5% | |
| Q2 2022 | -2.1% | -2.4% | -10.2% | |
| Q1 2022 | -9.2% | -5.5% | -16.9% | |
| Q4 2021 | -8.8% | -11.2% | -0.5% | |
| Q3 2021 | -0.0% | -0.8% | -2.8% | |
| Q2 2021 | -4.0% | -2.4% | -0.1% | |
| Q1 2021 | +4.6% | +3.8% | +9.6% | |
| Q4 2020 | +4.1% | -0.8% | +5.4% | |
| Q3 2020 | +2.6% | +3.3% | +7.0% | |
| Q2 2020 | +2.3% | +7.2% | -8.1% | |
| Q1 2020 | +8.8% | +10.7% | +8.5% | |
| Q4 2019 | +3.5% | +1.1% | -2.6% | |
| Q3 2019 | +6.8% | +10.7% | +14.8% | |
| Q2 2019 | -9.8% | -10.0% | -8.3% | |
| Q1 2019 | -11.4% | -10.5% | -9.7% | |
| Q4 2018 | -2.3% | -4.5% | +3.9% | |
| Q3 2018 | +2.8% | +5.0% | -3.1% | |
| Q2 2018 | -5.1% | -4.7% | -0.9% | |
| Q1 2018 | -5.1% | -6.6% | +1.1% | |
| Q4 2017 | -4.2% | -1.6% | -3.1% | |
| Q3 2017 | +1.4% | +1.4% | +4.1% | |
| Q2 2017 | +8.3% | +6.0% | +6.7% | |
| Q1 2017 | -12.3% | -11.4% | -12.4% | |
| Q4 2016 | +13.2% | +13.1% | +13.3% | |
| Q3 2016 | -0.8% | -3.0% | +1.9% | |
| Q2 2016 | -11.5% | — | — | |
| Q4 2015 | -6.7% | — | — | |
| Q3 2015 | +6.1% | — | — | |
| Q2 2015 | -6.6% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | +2.4% | — | — | |
| Q3 2014 | -5.5% | — | — | |
| Q2 2014 | +5.5% | — | — | |
| Q1 2014 | -0.9% | — | — | |
| Q4 2013 | -9.0% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | -4.5% | — | — | |
| Q1 2013 | +13.0% | — | — | |
| Q4 2010 | +2.5% | — | — | |
| Q4 2012 | -1.8% | — | — | |
| Q3 2011 | +6.5% | — | — | |
| Q3 2012 | +16.9% | — | — | |
| Q2 2011 | -3.4% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q3 2010 | -3.1% | — | — | |
| Q2 2010 | +1.1% | — | — |
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