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LNN Q3 Earnings Beat Estimates, Revenues Miss on Irrigation Weakness
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Key Takeaways
LNN Q3 earnings beat estimates, but revenues fell 5% y/y as irrigation demand remained weak.
Lindsay expects U.S. irrigation softness to continue and sees Brazil returning to growth despite headwinds.
LNN expects $70 million in fiscal 2026 revenues from the MENA irrigation project.
Lindsay Corporation (LNN - Free Report) reported third-quarter fiscal 2026 earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.41 by 8.5%. The bottom line declined 14% year over year.
Revenues totaled $160.8 million, down 5% year over year. The top line missed the Zacks Consensus Estimate of $169 million by 5.15%. Irrigation softness outweighed infrastructure growth. The quarter reflected persistent demand challenges in North America and Brazil.
The company’s backlog as of May 31, 2026, was $136 million compared with $117 million as of May 31, 2025.
Lindsay Corporation Price, Consensus and EPS Surprise
The cost of operating revenues fell 2.5% year over year to $113 million. Gross profit was down 10.8% to $48 million from the year-earlier quarter. The gross margin was 29.8% compared with the year-ago quarter’s 31.6%.
Operating expenses were $29 million in the fiscal third quarter, down 1.7% year over year. Operating income was $18.5 million, down from the prior-year quarter’s $27 million.
LNN’s Q3 Segmental Results
The Irrigation segment’s revenues decreased 7% year over year to $133 million. North America irrigation revenues fell 11% from the year-ago quarter to $61 million on lower unit sales volume. International irrigation revenues decreased 4% year over year to $72 million. The segment’s operating income fell 25% year over year to $21 million.
The Infrastructure segment’s revenues increased 8% year over year to $28 million. The upside was driven by higher road safety product revenues. The segment reported operating income of $5.4 million, flat year over year.
Lindsay’s Financial Position
LNN had cash and cash equivalents of roughly $155 million at the end of the third quarter of fiscal 2026 compared with $196 million as of the end of the third quarter of fiscal 2025. The company’s long-term debt was around $115 million as of May 31, 2026, flat with that reported as of May 31, 2025.
The company completed $25.2 million of share repurchases during the quarter. Total repurchases reached $80.7 million for the fiscal year.
LNN's FY26 Outlook
Lindsay expects the irrigation market conditions in the United States to remain soft as growers await greater trade certainty and an improvement in commodity prices. Brazil is expected to return to growth, supported by secular demand for irrigation investments.
However, credit constraints and high interest rates are expected to remain headwinds in Brazil. Lindsay also expects to recognize $70 million in revenues from the MENA irrigation project in fiscal 2026.
In Infrastructure, the company anticipates continued growth in road safety products. It continues to manage a robust pipeline of Road Zipper System projects but does not expect to deliver a large project in fiscal 2026.
Lindsay Stock’s Price Performance
The company’s shares have lost 15.3% in the past year against the industry’s growth of 17.5%.
Deere & Company (DE - Free Report) is expected to release third-quarter fiscal 2026 results on Aug. 20.
The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $4.82 for the fiscal third quarter, implying growth of 1.5% from the year-ago reported figure. The consensus estimate for Deere’s total revenues is pinned at $10.8 billion, indicating a year-over-year increase of 4.6%
AGCO Corp. (AGCO - Free Report) is anticipated to post second-quarter 2026 results soon. The Zacks Consensus Estimate for AGCO’s earnings per share is pegged at $1.49 for the second quarter, implying an increase of 10.3% from the year-ago reported figure. The consensus estimate for AGCO’s total revenues is pinned at $2.72 billion, indicating a year-over-year increase of 3.2%.
CNH Industrial N.V. (CNH - Free Report) is expected to report second-quarter 2026 results soon. The Zacks Consensus Estimate for CNH Industrial’s earnings per share is pegged at 11 cents for the second quarter. The company reported earnings of 17 cents in the year-ago quarter. The consensus estimate for CNH Industrial’s total revenues is pinned at $4.77 billion, indicating a year-over-year increase of 1.2%.
View the Zacks #1 Rank List
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LNN Q3 Earnings Beat Estimates, Revenues Miss on Irrigation Weakness
Key Takeaways
Lindsay Corporation (LNN - Free Report) reported third-quarter fiscal 2026 earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.41 by 8.5%. The bottom line declined 14% year over year.
Revenues totaled $160.8 million, down 5% year over year. The top line missed the Zacks Consensus Estimate of $169 million by 5.15%. Irrigation softness outweighed infrastructure growth. The quarter reflected persistent demand challenges in North America and Brazil.
The company’s backlog as of May 31, 2026, was $136 million compared with $117 million as of May 31, 2025.
Lindsay Corporation Price, Consensus and EPS Surprise
Lindsay Corporation price-consensus-eps-surprise-chart | Lindsay Corporation Quote
Lindsay’s Q3 Gross Margin Contracts Y/Y
The cost of operating revenues fell 2.5% year over year to $113 million. Gross profit was down 10.8% to $48 million from the year-earlier quarter. The gross margin was 29.8% compared with the year-ago quarter’s 31.6%.
Operating expenses were $29 million in the fiscal third quarter, down 1.7% year over year. Operating income was $18.5 million, down from the prior-year quarter’s $27 million.
LNN’s Q3 Segmental Results
The Irrigation segment’s revenues decreased 7% year over year to $133 million. North America irrigation revenues fell 11% from the year-ago quarter to $61 million on lower unit sales volume. International irrigation revenues decreased 4% year over year to $72 million. The segment’s operating income fell 25% year over year to $21 million.
The Infrastructure segment’s revenues increased 8% year over year to $28 million. The upside was driven by higher road safety product revenues. The segment reported operating income of $5.4 million, flat year over year.
Lindsay’s Financial Position
LNN had cash and cash equivalents of roughly $155 million at the end of the third quarter of fiscal 2026 compared with $196 million as of the end of the third quarter of fiscal 2025. The company’s long-term debt was around $115 million as of May 31, 2026, flat with that reported as of May 31, 2025.
The company completed $25.2 million of share repurchases during the quarter. Total repurchases reached $80.7 million for the fiscal year.
LNN's FY26 Outlook
Lindsay expects the irrigation market conditions in the United States to remain soft as growers await greater trade certainty and an improvement in commodity prices. Brazil is expected to return to growth, supported by secular demand for irrigation investments.
However, credit constraints and high interest rates are expected to remain headwinds in Brazil. Lindsay also expects to recognize $70 million in revenues from the MENA irrigation project in fiscal 2026.
In Infrastructure, the company anticipates continued growth in road safety products. It continues to manage a robust pipeline of Road Zipper System projects but does not expect to deliver a large project in fiscal 2026.
Lindsay Stock’s Price Performance
The company’s shares have lost 15.3% in the past year against the industry’s growth of 17.5%.
Image Source: Zacks Investment Research
LNN’s Zacks Rank
Lindsay currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Farm Equipment Stocks Awaiting Results
Deere & Company (DE - Free Report) is expected to release third-quarter fiscal 2026 results on Aug. 20.
The Zacks Consensus Estimate for Deere’s earnings per share is pegged at $4.82 for the fiscal third quarter, implying growth of 1.5% from the year-ago reported figure. The consensus estimate for Deere’s total revenues is pinned at $10.8 billion, indicating a year-over-year increase of 4.6%
AGCO Corp. (AGCO - Free Report) is anticipated to post second-quarter 2026 results soon. The Zacks Consensus Estimate for AGCO’s earnings per share is pegged at $1.49 for the second quarter, implying an increase of 10.3% from the year-ago reported figure. The consensus estimate for AGCO’s total revenues is pinned at $2.72 billion, indicating a year-over-year increase of 3.2%.
CNH Industrial N.V. (CNH - Free Report) is expected to report second-quarter 2026 results soon. The Zacks Consensus Estimate for CNH Industrial’s earnings per share is pegged at 11 cents for the second quarter. The company reported earnings of 17 cents in the year-ago quarter. The consensus estimate for CNH Industrial’s total revenues is pinned at $4.77 billion, indicating a year-over-year increase of 1.2%.