Lindsay Corporation (NYSE: LNN) has reported its second quarter fiscal 2025 results, showcasing record quarterly net earnings supported by a substantial 23% revenue growth. The quarterly net earnings increased by an impressive 47%, with diluted earnings per share (EPS) also experiencing a significant 49% increase.
Total revenues for the second quarter of fiscal 2025 amounted to $187.1 million, marking a substantial 23% increase from the $151.5 million reported in the prior year. The operating income for the same period saw a remarkable 45% increase, reaching $32.1 million compared to $22.1 million in the previous year. Additionally, the operating margin expanded to 17.2% of sales, up from 14.6% in the prior year.
In the irrigation segment, international revenues experienced a notable 42% increase, reaching $71.0 million, compared to $50.2 million in the prior year. However, North America irrigation revenues decreased by 7% to $77.1 million. The international irrigation growth was primarily attributed to revenues related to a large project in the MENA region and higher sales in other parts of the region.
The infrastructure segment witnessed a substantial 110% increase in revenues, reaching $38.9 million, up from $18.5 million in the prior year. The operating income for the infrastructure segment also saw a significant surge, increasing by 278% to $13.3 million, compared to $3.5 million in the prior year. The backlog of unfilled orders as of February 28, 2025, increased to $127.0 million from $94.2 million in the prior year.
Looking ahead, Randy Wood, President and CEO of Lindsay Corporation, commented that the company has plans in place to mitigate the potential impact of tariffs and retaliatory actions. He also highlighted the company's global execution capabilities and supply chain initiatives to minimize potential impacts on the business and customers.
The company's fiscal 2025 second quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today, providing an opportunity for interested investors to gain further insights into the company's performance.
Lindsay Corporation, established in 1955, is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, with a strong focus on research and development to address the world's growing population's needs for food, fuel, fiber, and transportation. As a result of these announcements, the company's shares have moved 0.0% on the market, and are now trading at a price of $130.5. If you want to know more, read the company's complete 8-K report here.
