Lindsay Q3 2026 Earnings Call Transcript

Lindsay (NYSE: LNN ) held its third-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

This content is powered APIs.

For comprehensive financial data and transcripts, visit Access the full call at Summary Lindsay Corporation reported a 5% decrease in total revenues for Q3 2026, primarily due to continued softness in the irrigation segment, but partially offset by growth in infrastructure.

The company's infrastructure business saw an 8% increase in revenues, driven by higher road safety product sales, marking three consecutive quarters of growth.

Despite challenges, Lindsay Corporation is continuing strategic investments, including a new tube mill and a galvanizing facility, to enhance operational efficiency and growth opportunities.

In Brazil, despite financing challenges, the company remains optimistic about long-term growth potential in the irrigation market, driven by customer interest and reduced financing rates.

The company undertook restructuring initiatives aimed at improving efficiency and aligning resources with market demand, expected to yield savings starting from fiscal 2027.

Lindsay's technology platforms, FieldNET and FieldWise, are contributing to sustained double-digit growth in technology revenues, emphasizing the company's focus on innovation.

The company expects continued growth in its infrastructure segment, supported by strong road zipper pipeline and favorable legislative developments like the Build America 250 Act.

Management expressed cautious optimism about international markets, with ongoing projects and potential growth in regions focusing on food security and water management.

Full Transcript OPERATOR Good morning and welcome to the Lindsay Corp fiscal third quarter 2026 earnings conference call.

All participants will be in listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the Star key followed by zero.

After today's presentation, there will be an opportunity to ask questions.

To ask a question, you may press Star then one on your telephone keypad.

To withdraw your question, please press Star then two.

Please note this event is being recorded.

I would now like to turn the conference over to Randy Wood, President and CEO.

Please go ahead.

Randy Wood, President and CEO Thank you and good morning everyone.

Welcome to our fiscal 2026 third quarter earnings call.

With me today is Sam Henricksen, our Chief Financial Officer.

Starting with our third quarter results, I'm proud of our team's continued execution and resilience through what's been a difficult environment amid a cyclical bottom in agricultural markets.

Trade uncertainty, high input costs, and weak farmer sentiment continue to weigh on our business.

We remained focused on the levers within our control, including pricing, cost management, and operational efficiency, while continuing to invest strategically to position the business for long-term growth.

In North America, our irrigation customers continue to delay large capital purchases given current farm economics, which resulted in lower unit sales volumes in the quarter.

Demand remained soft, consistent with our expectations.

While commodity prices showed some improvement and government support programs have provided modest relief to growers, neither has significantly impacted demand in our international business.

Revenues were down slightly year over year, driven by lower sales volumes in Brazil due to the high interest rate environment and limited access to credit, which continues to constrain growers' ability to finance capital equipment purchases.

Our infrastructure business continued to grow year over year.

Third quarter revenues increased 8% driven by higher road safety product revenues, marking three consecutive quarters of growth.

Road zipper lease revenues were similar to the prior year.

As we said previously, we don't anticipate a large road zipper project this fiscal year.

Turning to our market outlook, the US Irrigation market remains soft as growers await further trade certainty and improvement in profitability.

Current USDA projections indicate cost of production will exceed commodity prices for several key commodities this year, a continuation of a multi-year trend.