Lindsay Q2 Revenue Falls 16% as Profit Margins Narrow

Overview

• Lindsay reported second-quarter fiscal 2026 results Thursday with revenue of $157.7 million, a 16% decline from a year earlier.
• Operating income dropped to $13.0 million and the operating margin fell to 8.3%, pushing diluted EPS down to $1.15 from $2.44.
• Irrigation sales slipped 5% to $141.2 million, while infrastructure revenue fell 58% to $16.5 million due to the absence of a large prior-year Road Zipper project, and management said infrastructure would have grown about 6% without that comparison.
• Total backlog rose to $151.8 million as deliveries began on an $80 million MENA irrigation project, with about $70 million expected to be recognized this fiscal year, and management said the Turkey-built project is on schedule but could face delays if the regional conflict drags on.
• Lindsay repurchased $25.2 million in shares in the quarter, bringing year-to-date buybacks to $55.5 million with $125 million still authorized, and the stock fell after the results.