Lindsay Corporation (LNN - Free Report) delivered adjusted net earnings of 50 cents per share in the third quarter of fiscal 2019 (ended May 31, 2019) compared to the earnings per share of $1.66 recorded in the year-ago quarter. Earnings significantly lagged the Zacks Consensus Estimate of 81 cents. Lower commodity prices and trade uncertainty weighed on irrigation equipment demand during the reported quarter. Also, strong Road Zipper System sales in the year-ago quarter led to the challenging year-over-year comparison.
Including the after-tax costs related to the company’s Foundation for Growth initiative, net earnings for the quarter were 27 cents in the quarter compared with the net earnings of 96 cents recorded in the prior-year quarter.
Lindsay generated revenues of $121.1 million, down 29% year over year. The revenue figure also missed the Zacks Consensus Estimate of $137 million.
Lindsay Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Lindsay Corporation (LNN - Free Report) delivered adjusted net earnings of 50 cents per share in the third quarter of fiscal 2019 (ended May 31, 2019) compared to the earnings per share of $1.66 recorded in the year-ago quarter. Earnings significantly lagged the Zacks Consensus Estimate of 81 cents. Lower commodity prices and trade uncertainty weighed on irrigation equipment demand during the reported quarter. Also, strong Road Zipper System sales in the year-ago quarter led to the challenging year-over-year comparison.
Including the after-tax costs related to the company’s Foundation for Growth initiative, net earnings for the quarter were 27 cents in the quarter compared with the net earnings of 96 cents recorded in the prior-year quarter.
Lindsay generated revenues of $121.1 million, down 29% year over year. The revenue figure also missed the Zacks Consensus Estimate of $137 million.
Lindsay Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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