Lindsay Corporation's stock plummeted 10.31% during intraday trading on Thursday, following the release of its disappointing fiscal 2026 second-quarter financial results.
The irrigation and infrastructure company reported a significant miss on both top and bottom lines. Revenue fell 16% year-over-year to $157.7 million, well below the consensus estimate of $171.39 million. Earnings per share dropped 53% to $1.15, missing analyst expectations of approximately $1.70.
According to the company's earnings report, the weakness was driven by several factors: challenging conditions in the North American irrigation market pressured by soft commodity prices, credit availability constraints and high interest rates limiting farmer investment in Brazil, and a decline in infrastructure revenue due to the absence of a large Road Zipper System project that boosted results in the prior year.
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