Lindsay Corporation Reports 6% Revenue Decline and 25% Drop in Net Earnings for Fiscal Year Ending August 31, 2026

Lindsay Corporation reported a decline in financial performance for the fiscal year ending August 31, 2026, with operating revenues of $635.9 million, a decrease of 6% from $676.4 million in the previous year. The irrigation segment generated $541.5 million in revenue, down 5%, while the infrastructure segment saw a more significant drop of 13%, totaling $94.4 million. Net earnings also fell by 25% to $55.7 million, or $5.33 per diluted share, compared to $74.1 million, or $6.78 per diluted share, in fiscal 2025. The decrease in profitability was attributed to lower operating income across both segments and a higher effective income tax rate.

The company experienced notable changes in its operational landscape, particularly in its irrigation segment, which faced reduced project sales in the Middle East and North Africa (MENA) region and lower sales volumes in North America and South America. The infrastructure segment's revenue decline was primarily due to the absence of a significant $20 million project that had contributed to the previous year's figures. Despite these challenges, Lindsay Corporation continues to focus on enhancing its irrigation product offerings through innovative technologies, including GPS positioning and wireless irrigation management.

In terms of strategic developments, Lindsay Corporation announced plans to acquire Setorial Irrigação, a Brazilian manufacturer of hose reels, for approximately R$49.1 million, expected to close by the end of 2026. This acquisition aligns with the company's strategy to expand its capabilities and market presence in the irrigation sector. Additionally, the company reported an order backlog of $102.5 million as of August 31, 2026, down from $110.7 million the previous year, reflecting the impact of completed large irrigation projects.

Operationally, Lindsay Corporation employed 1,083 individuals as of August 31, 2026, with no union representation among its U.S.-based workforce. The company continues to prioritize employee engagement and safety, emphasizing a workplace culture that fosters collaboration and innovation. The irrigation segment remains a significant contributor to the company's revenue, accounting for 85% of total sales in fiscal 2026, while international sales represented 49% of total revenues, highlighting the company's global reach.

Looking ahead, Lindsay Corporation anticipates continued demand for its irrigation products driven by global population growth and the need for efficient water management. However, the company acknowledges that fluctuations in agricultural commodity prices and net farm income could impact future sales. The infrastructure segment is expected to benefit from ongoing government funding for transportation projects, particularly under the Infrastructure Investment and Jobs Act, which is set to run through December 2026. The company remains committed to leveraging its strategic initiatives and operational efficiencies to navigate the evolving market landscape.