Q3 2026 Lindsay Corp Earnings Call Transcript
Key Points
- Lindsay Corp (LNN) reported an 8% increase in Infrastructure segment revenues, marking three consecutive quarters of growth.
- The company is seeing strong customer engagement and interest in Brazil, with lower financing rates expected to improve the affordability of irrigation systems.
- Lindsay Corp (LNN) continues to invest in technology and innovation, with its FieldNET and FieldWise platforms driving double-digit technology revenue growth.
- The new tube mill in Nebraska has been successfully commissioned, enhancing safety, efficiency, and throughput.
- Lindsay Corp (LNN) has a strong balance sheet with $204.8 million in available liquidity, supporting future growth initiatives.
- The Irrigation segment experienced a 7% decrease in revenues due to lower unit sales volumes and high input costs.
- North American irrigation revenues decreased by 11% as customers delayed large capital purchases amid challenging farm economics.
- International irrigation revenues were down 4%, primarily due to lower sales volumes in Brazil caused by high interest rates and limited credit access.
- The total funding allocated to irrigation in Brazil's FINAME program has been reduced, potentially limiting market expansion.
- Lindsay Corp (LNN) faces a competitive pricing environment in the domestic irrigation market, which could pressure margins.
Good morning, and welcome to the Lindsay Corporation fiscal third-quarter 2026 earnings conference call. (Operator Instructions) 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.
Thank you, and good morning, everyone. Welcome to our fiscal 2026 third-quarter earnings call. With me today is Sam Hinrichsen, 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 remain 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
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