Lindsay Corp Sees Revenue Dip, Infrastructure Shines

Lindsay Corp announced its financial results, revealing a 5% decrease in total revenue, which amounted to $160.8 million compared to $169.5 million in the prior year. Operating income and net earnings also saw a decline. The Irrigation segment experienced a 7% revenue decrease. Conversely, the Infrastructure segment demonstrated robust performance with an 8% revenue increase, achieving its third consecutive quarter of growth. This segment's performance was bolstered by strong customer engagement in Brazil and continued investment in technology platforms. The company reported $204.8 million in total available liquidity, including $154.8 million in cash and cash equivalents. Lindsay Corp also continued its share repurchase program, buying back $25.2 million in stock during the quarter.