Lindsay Corporation Reports 22% Revenue Growth in Q3 Fiscal 2025

Lindsay Corporation reported a significant increase in financial performance for the third quarter of fiscal 2025, with operating revenues reaching $169.5 million, a 22% increase from $139.2 million in the same period last year. The company's gross profit also rose to $53.6 million, up 15% from $46.5 million, although the gross margin decreased to 31.6% from 33.4%. Net earnings for the quarter were $19.5 million, or $1.78 per diluted share, compared to $20.4 million, or $1.85 per diluted share, in the prior year, primarily due to a one-time income tax credit recognized in the previous period.

For the nine months ending May 31, 2025, Lindsay Corporation's operating revenues increased by 16% to $522.8 million, compared to $452.1 million in the same period of 2024. The irrigation segment, which accounted for 84% of total revenue, saw a 13% increase in operating revenues to $438.9 million, while the infrastructure segment experienced a 31% rise to $83.8 million. The overall net earnings for the nine-month period were $63.2 million, an 18% increase from $53.5 million in the previous year.

Strategically, Lindsay Corporation completed the acquisition of a 49.9% non-controlling interest in Pessl Instruments GmbH for $5.8 million, enhancing its portfolio in agricultural technology solutions. The company also reported a backlog of unshipped orders totaling $117.1 million as of May 31, 2025, down from $205.9 million a year earlier, largely due to the completion of a large irrigation project in the Middle East and North Africa region.

Operationally, the company reported a cash and cash equivalents balance of $196.1 million, up from $140.2 million a year prior. The total employee headcount remained stable, and the company continues to focus on expanding its international market presence, particularly in regions with less developed irrigation systems. The irrigation segment's international revenues surged by 60% to $74.7 million, driven by increased sales in Brazil and the MENA region.

Looking ahead, Lindsay Corporation anticipates continued growth in both its irrigation and infrastructure segments, supported by favorable agricultural conditions and government spending on infrastructure projects. The company plans to invest between $35 million and $40 million in capital expenditures for fiscal 2025, focusing on modernization and productivity improvements. Despite the challenges posed by fluctuating agricultural commodity prices and potential tariffs, Lindsay remains optimistic about its growth trajectory and market opportunities.