Lindsay Corporation Reports Fourth Quarter and Fiscal Year 2024 Results

Improved infrastructure results, steady demand in North America irrigation, and international irrigation project revenue help to partially offset market softness in Brazil

OMAHA, Neb.--()--Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its fourth quarter and fiscal year, which ended on August 31, 2024.

Key Highlights

Fourth Quarter:

  • North America irrigation revenues increased on higher unit sales volume
  • Delivery began on large irrigation project in the Middle East and North Africa (MENA) region
  • Improved infrastructure results driven by increase in Road Zipper System™ sales and lease revenues

Full-Year:

  • Consolidated gross margin performance remained steady despite a decline in irrigation revenues
  • Infrastructure operating income increased 57 percent driven by favorable revenue mix
  • Deployed $22.5 million towards opportunistic share repurchases

While agricultural markets globally remain challenged due to lower grain prices and grower profitability, I am pleased with the demonstrated resilience and performance of our North America irrigation business. Equipment sales volume in both the fourth quarter and full year grew versus the prior year periods and operating performance also improved. International irrigation results continue to be impacted by lower sales activity in Brazil, following record fourth quarter and full-year sales levels last year. During the fourth quarter we began delivery on the previously announced irrigation project in the MENA region, which helped to offset some of the market softness in Brazil,” said Randy Wood, President and Chief Executive Officer of Lindsay Corporation. “Fourth quarter and full year growth in our Road Zipper System™ lease revenues drove margin expansion and improved infrastructure results.”

Wood continued, “I am pleased with the continued operational execution demonstrated by our teams across the business, and the diligent price and cost management which have supported our underlying results in a cyclically challenging irrigation market. Our operating performance, along with diligent working capital management, resulted in free cash flow generation that exceeded net earnings for a second consecutive year. The strength of our balance sheet allows us to continue funding growth initiatives in innovation and other long-term shareholder value creation opportunities.”

Fourth Quarter Summary

Consolidated Financial Summary

 

Fourth Quarter

(dollars in millions, except per share amounts)

 

FY 2024

 

FY 2023

 

$ Change

 

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

$155.0

 

$167.1

 

($12.1)

 

(7%)

Operating income

 

$13.5

 

$23.4

 

($9.9)

 

(42%)

Operating margin

 

8.7%

 

14.0%

 

 

 

 

Net earnings

 

$12.7

 

$19.2

 

($6.5)

 

(34%)

Earnings per share

 

$1.17

 

$1.74

 

($0.57)

 

(33%)

Revenues for the fourth quarter of fiscal 2024 were $155.0 million, a decrease of $12.1 million, or 7 percent, compared to revenues of $167.1 million in the prior year fourth quarter. A decrease in international irrigation revenues was partially offset by increases in North America irrigation and infrastructure revenues compared to the prior year fourth quarter.

Operating income for the fourth quarter was $13.5 million, a decrease of $9.9 million, or 42 percent, compared to operating income of $23.4 million in the prior year fourth quarter. Operating margin was 8.7 percent of sales, compared to operating margin of 14.0 percent of sales in the prior year fourth quarter. The decrease in operating income and operating margin resulted primarily from lower international irrigation revenues and the impact from the deleveraging of fixed operating expenses. This decrease was partially offset by improved operating income and operating margin in the infrastructure segment.

Net earnings for the fourth quarter were $12.7 million, or $1.17 per diluted share, compared with net earnings of $19.2 million, or $1.74 per diluted share, for the prior year fourth quarter. Fourth quarter results benefited from an effective tax rate of 16.1 percent compared to 22.8 percent in the prior year fourth quarter.

Fourth Quarter Segment Results

Irrigation Segment

 

Fourth Quarter

(dollars in millions)

 

FY 2024

 

FY 2023

 

$ Change

 

% Change

Revenues:

 

 

 

 

 

 

 

 

North America

 

$61.7

 

$60.2

 

$1.5

 

2%

International

 

$64.2

 

$83.4

 

($19.2)

 

(23%)

Total revenues

 

$125.9

 

$143.6

 

($17.7)

 

(12%)

Operating income

 

$17.1

 

$29.8

 

($12.7)

 

(43%)

Operating margin

 

13.6%

 

20.7%

 

 

 

 

Irrigation segment revenues for the fourth quarter of fiscal 2024 were $125.9 million, a decrease of $17.7 million, or 12 percent, compared to $143.6 million in the prior year fourth quarter. North America irrigation revenues of $61.7 million increased $1.5 million, or 2 percent, compared to the prior year period. The increase in revenues resulted primarily from higher unit sales volumes while average selling prices were comparable with the prior year fourth quarter. Increased unit sales volumes were driven by a higher level of storm damage replacement demand, the impact of which was partially offset by lower sales of replacement parts due to wet field conditions in certain regions that limited equipment run times.

International irrigation revenues for the fourth quarter of fiscal 2024 of $64.2 million decreased $19.2 million, or 23 percent, compared to the prior year fourth quarter. The decrease resulted primarily from lower revenues in Brazil compared to record revenues in the prior year fourth quarter. Revenues were also lower in other parts of Latin America while overall demand in other developed markets remained stable. These decreases were partially offset by higher revenues in developing markets as delivery began on the previously announced project in the MENA region. Revenues in the current year quarter were also impacted by the unfavorable effects of foreign currency translation of approximately $3.1 million compared to the prior year.

Irrigation segment operating income for the fourth quarter of fiscal 2024 was $17.1 million, a decrease of $12.7 million, or 43 percent, compared to the prior year fourth quarter. Operating margin was 13.6 percent of sales, compared to 20.7 percent of sales in the prior year fourth quarter. The decrease in operating income and operating margin resulted primarily from lower international irrigation revenues and the impact from the deleveraging of fixed operating expenses compared to the prior year fourth quarter.

Infrastructure Segment

 

Fourth Quarter

(dollars in millions)

 

FY 2024

 

FY 2023

 

$ Change

 

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

$29.1

 

$23.5

 

$5.6

 

24%

Operating income

 

$5.6

 

$3.1

 

$2.5

 

79%

Operating margin

 

19.2%

 

13.3%

 

 

 

 

Infrastructure segment revenues for the fourth quarter of fiscal 2024 were $29.1 million, an increase of $5.6 million, or 24 percent, compared to $23.5 million in the prior year fourth quarter. The increase resulted from higher Road Zipper System sales and lease revenues compared to the prior year fourth quarter. The impact of higher sales of road safety products in the U.S. was offset by lower sales in international markets compared to the prior year fourth quarter.

Infrastructure segment operating income for the fourth quarter of fiscal 2024 was $5.6 million, an increase of $2.5 million, or 79 percent, compared to the prior year fourth quarter. Operating margin was 19.2 percent of sales, compared to 13.3 percent of sales in the prior year fourth quarter. Increased operating income and margin resulted from higher revenues and a more favorable margin mix of revenues with higher Road Zipper System sales and lease revenues compared to the prior year fourth quarter.

Full Year Summary

Consolidated Financial Summary

 

Full Year

(dollars in millions, except per share amounts)

 

FY 2024

 

FY 2023

 

$ Change

 

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

$607.1

 

$674.1

 

($67.0)

 

(10%)

Operating income

 

$76.6

 

$102.2

 

($25.6)

 

(25%)

Operating margin

 

12.6%

 

15.2%

 

 

 

 

Net earnings

 

$66.3

 

$72.4

 

($6.1)

 

(8%)

Earnings per share

 

$6.01

 

$6.54

 

($0.53)

 

(8%)

Revenues for fiscal 2024 were $607.1 million, a decrease of $67.0 million, or 10 percent, compared to revenues of $674.1 million in the prior year. Irrigation revenues decreased $72.1 million primarily due to lower sales in Brazil and other Latin America markets following record revenues in the prior fiscal year. Infrastructure revenues increased $5.1 million, primarily due to higher Road Zipper System lease revenues while Road Zipper System sales and road safety product sales were both slightly lower compared to the prior fiscal year.

Operating income for fiscal 2024 was $76.6 million, a decrease of $25.6 million, or 25 percent, compared to operating income of $102.2 million in the prior year. Operating margin was 12.6 percent of sales, compared to 15.2 percent of sales in the prior year. The decrease in operating income and operating margin resulted primarily from lower irrigation segment revenues and the impact from the deleveraging of fixed operating expenses. This decrease was partially offset by improved operating income and operating margin in the infrastructure segment.

Net earnings for fiscal 2024 were $66.3 million, or $6.01 per diluted share, compared with net earnings of $72.4 million, or $6.54 per diluted share, for the prior year. The impact of lower operating income was partially offset by higher other income, driven by an increase in interest income and favorable foreign currency translation results compared to the prior fiscal year, along with a lower effective tax rate resulting primarily from the recognition of certain tax credits in Brazil.

The backlog of unfilled orders as of August 31, 2024, was $180.9 million compared with $78.7 million on August 31, 2023. Included in these backlogs are amounts of $36.5 million and $3.8 million, respectively, for orders that are not expected to be fulfilled within the subsequent twelve months. The backlog in both segments was higher compared to the prior year, with the increase in irrigation backlog resulting from the addition of the large project in the MENA region.

Outlook

Mr. Wood concluded, “Indications that grain prices may have reached a bottom provides for a more stable market outlook for growers in North America, and we will have greater clarity regarding the demand outlook for irrigation equipment post-harvest. In Brazil, farmer profitability and credit availability remains a market headwind, however interest rates have been on the decline and local soybean prices have improved recently. We remain confident in the longer-term growth opportunity in this market but we do not expect a significant rebound in the near term. We do expect continued growth in developing international irrigation markets, supported by our project in the MENA region currently underway and other project opportunities under development."

We expect to see continued growth in our infrastructure business in fiscal 2025 supported by the additional U.S. federal infrastructure funds directed to road and bridge construction. This additional funding supports Road Zipper System leasing and sales of road safety projects. We also continue to actively manage projects in our Road Zipper System sales funnel and have line of sight to additional projects potentially moving through the funnel in fiscal 2025.”

Fourth Quarter Conference Call

Lindsay’s fiscal 2024 fourth quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (833) 535-2202 in the U.S., or (412) 902-6745 internationally, and requesting the Lindsay Corporation call. Additionally, the conference call will be simulcast live on the internet and can be accessed via the investor relations section of the Company's website, www.lindsay.com. Replays of the conference call will remain on our website through the next quarterly earnings release. The Company will have a slide presentation available to augment management's formal presentation, which will also be accessible via the Company's website.

About the Company

Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.

Concerning Forward-looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” "expect," "outlook," "could," "may," "should," “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

 

LINDSAY CORPORATION AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended August 31,

 

 

Years Ended August 31,

 

(in thousands, except per share amounts)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

 

154,998

 

 

$

 

167,131

 

 

$

 

607,074

 

 

$

 

674,084

 

Cost of operating revenues

 

 

 

109,299

 

 

 

 

114,615

 

 

 

 

416,019

 

 

 

 

461,069

 

Gross profit

 

 

 

45,699

 

 

 

 

52,516

 

 

 

 

191,055

 

 

 

 

213,015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling expense

 

 

 

11,011

 

 

 

 

9,109

 

 

 

 

39,905

 

 

 

 

36,201

 

General and administrative expense

 

 

 

16,596

 

 

 

 

15,175

 

 

 

 

57,419

 

 

 

 

56,412

 

Engineering and research expense

 

 

 

4,592

 

 

 

 

4,868

 

 

 

 

17,123

 

 

 

 

18,218

 

Total operating expenses

 

 

 

32,199

 

 

 

 

29,152

 

 

 

 

114,447

 

 

 

 

110,831

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

13,500

 

 

 

 

23,364

 

 

 

 

76,608

 

 

 

 

102,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

(760

)

 

 

 

(893

)

 

 

 

(3,234

)

 

 

 

(3,788

)

Interest income

 

 

 

1,865

 

 

 

 

1,238

 

 

 

 

5,189

 

 

 

 

2,783

 

Other expense, net

 

 

 

580

 

 

 

 

1,196

 

 

 

 

487

 

 

 

 

(804

)

Total other income (expense)

 

 

 

1,685

 

 

 

 

1,541

 

 

 

 

2,442

 

 

 

 

(1,809

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

 

 

15,185

 

 

 

 

24,905

 

 

 

 

79,050

 

 

 

 

100,375

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

2,449

 

 

 

 

5,676

 

 

 

 

12,793

 

 

 

 

27,996

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

 

12,736

 

 

$

 

19,229

 

 

$

 

66,257

 

 

$

 

72,379

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 

1.18

 

 

$

 

1.75

 

 

$

 

6.04

 

 

$

 

6.58

 

Diluted

 

$

 

1.17

 

 

$

 

1.74

 

 

$

 

6.01

 

 

$

 

6.54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

10,859

 

 

 

 

11,009

 

 

 

 

10,976

 

 

 

 

11,003

 

Diluted

 

 

 

10,903

 

 

 

 

11,059

 

 

 

 

11,017

 

 

 

 

11,062

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per share

 

$

 

0.36

 

 

$

 

0.35

 

 

$

 

1.41

 

 

$

 

1.37

 

 

LINDSAY CORPORATION AND SUBSIDIARIES

SUMMARY OPERATING RESULTS

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended August 31,

 

Years Ended August 31,

(in thousands)

 

2024

 

2023

 

2024

 

2023

Operating revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

61,691

 

$

60,223

 

$

302,148

 

$

309,538

International

 

 

64,179

 

 

83,378

 

 

211,748

 

 

276,493

Irrigation total

 

 

125,870

 

 

143,601

 

 

513,896

 

 

586,031

Infrastructure

 

 

29,128

 

 

23,530

 

 

93,178

 

 

88,053

Total operating revenues

 

$

154,998

 

$

167,131

 

$

607,074

 

$

674,084

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation

 

$

17,067

 

$

29,780

 

$

87,547

 

$

121,969

Infrastructure

 

 

5,594

 

 

3,119

 

 

18,995

 

 

12,067

Corporate

 

 

(9,161)

 

 

(9,535)

 

 

(29,934)

 

 

(31,852)

Total operating income

 

$

13,500

 

$

23,364

 

$

76,608

 

$

102,184

The Company manages its business activities in two reportable segments as follows:

Irrigation This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial IoT solutions.

Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment.

LINDSAY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

August 31,
2024

 

August 31,
2023

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

190,879

 

$

160,755

Marketable securities

 

 

 

 

5,556

Receivables, net of allowance of $5,151 and $5,048, respectively

 

 

116,601

 

 

144,774

Inventories, net

 

 

154,453

 

 

155,932

Other current assets

 

 

31,279

 

 

20,467

Total current assets

 

 

493,212

 

 

487,484

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

 

112,815

 

 

99,681

Intangible assets, net

 

 

25,366

 

 

27,719

Goodwill

 

 

84,194

 

 

83,121

Operating lease right-of-use assets

 

 

15,693

 

 

17,036

Deferred income tax assets

 

 

14,431

 

 

10,885

Other noncurrent assets

 

 

14,521

 

 

19,734

Total assets

 

$

760,232

 

$

745,660

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

37,417

 

$

44,278

Current portion of long-term debt

 

 

228

 

 

226

Other current liabilities

 

 

88,171

 

 

91,604

Total current liabilities

 

 

125,816

 

 

136,108

 

 

 

 

 

 

 

Pension benefits liabilities

 

 

4,167

 

 

4,382

Long-term debt

 

 

114,994

 

 

115,164

Operating lease liabilities

 

 

15,541

 

 

17,689

Deferred income tax liabilities

 

 

678

 

 

689

Other noncurrent liabilities

 

 

18,143

 

 

15,977

Total liabilities

 

 

279,339

 

 

290,009

 

 

 

 

 

 

 

Shareholders' equity:

 

 

 

 

 

 

Preferred stock

 

 

 

 

Common stock

 

 

19,124

 

 

19,094

Capital in excess of stated value

 

 

104,369

 

 

98,508

Retained earnings

 

 

687,093

 

 

636,297

Less treasury stock - at cost

 

 

(299,692)

 

 

(277,238)

Accumulated other comprehensive loss, net

 

 

(30,001)

 

 

(21,010)

Total shareholders' equity

 

 

480,893

 

 

455,651

Total liabilities and shareholders' equity

 

$

760,232

 

$

745,660

 

LINDSAY CORPORATION AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended August 31,

 

($ in thousands)

 

2024

 

 

2023

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net earnings

 

$

 

66,257

 

 

$

 

72,379

 

Adjustments to reconcile net earnings to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

21,200

 

 

 

 

19,282

 

Provision for uncollectible accounts receivable

 

 

 

694

 

 

 

 

881

 

Deferred income taxes

 

 

 

(3,933

)

 

 

 

 

Share-based compensation expense

 

 

 

6,392

 

 

 

 

6,529

 

Foreign currency transaction loss

 

 

 

(971

)

 

 

 

1,126

 

Other, net

 

 

 

488

 

 

 

 

1,569

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Receivables

 

 

 

23,478

 

 

 

 

(4,926

)

Inventories

 

 

 

(765

)

 

 

 

40,954

 

Other current assets

 

 

 

(9,543

)

 

 

 

4,693

 

Accounts payable

 

 

 

(5,958

)

 

 

 

(15,274

)

Other current liabilities

 

 

 

(8,200

)

 

 

 

(9,135

)

Other noncurrent assets and liabilities

 

 

 

6,622

 

 

 

 

1,629

 

Net cash provided by operating activities

 

 

 

95,761

 

 

 

 

119,707

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Purchases of property, plant and equipment

 

 

 

(28,979

)

 

 

 

(18,775

)

Purchases of marketable securities available-for-sale

 

 

 

(18,831

)

 

 

 

(4,932

)

Proceeds from maturities of marketable securities available-for-sale

 

 

 

24,633

 

 

 

 

10,982

 

Acquisition of business, net of cash acquired

 

 

 

 

 

 

 

(30,842

)

Other investing activities, net

 

 

 

(2,764

)

 

 

 

(3,850

)

Net cash used in investing activities

 

 

 

(25,941

)

 

 

 

(47,417

)

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Repurchase of common stock

 

 

 

(22,454

)

 

 

 

 

Dividends paid

 

 

 

(15,461

)

 

 

 

(15,082

)

Common stock withheld for payroll tax obligations

 

 

 

(1,575

)

 

 

 

(2,471

)

Proceeds from exercise of stock options

 

 

 

479

 

 

 

 

32

 

Other financing activities, net

 

 

 

370

 

 

 

 

222

 

Net cash used in financing activities

 

 

 

(38,641

)

 

 

 

(17,299

)

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

 

(1,055

)

 

 

 

716

 

Net change in cash and cash equivalents

 

 

 

30,124

 

 

 

 

55,707

 

Cash and cash equivalents, beginning of period

 

 

 

160,755

 

 

 

 

105,048

 

Cash and cash equivalents, end of period

 

$

 

190,879

 

 

$

 

160,755

 

 

Contacts

For further information, contact:
LINDSAY CORPORATION:
Alicia Pfeifer
Vice President, Investor Relations & Treasury
402-933-6429
Alicia.Pfeifer@lindsay.com

Alpha IR:
Joe Caminiti or Stephen Poe
312-445-2870
LNN@alpha-ir.com

Contacts

For further information, contact:
LINDSAY CORPORATION:
Alicia Pfeifer
Vice President, Investor Relations & Treasury
402-933-6429
Alicia.Pfeifer@lindsay.com

Alpha IR:
Joe Caminiti or Stephen Poe
312-445-2870
LNN@alpha-ir.com