LINDSAY CORPORATION Reports 23.9% Increase in Revenue, 16.9% Decrease in Net Income for Q2 FY2023.

Earnings Overview

LINDSAY CORPORATION ($NYSE:LNN) reported total revenue of USD 18.1 million for the second quarter of FY2023, which ended on February 28 2023, representing a 23.9% year-over-year increase. Net income, however, decreased by 16.9% compared to the same period the previous year and was reported on April 4 2023.

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We are confident that our strong financial position and deep expertise in irrigation technologies will continue to drive our success this year and beyond.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Lindsay Corporation. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

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Market Price

On Tuesday, LINDSAY CORPORATION announced their financial report for the second quarter of fiscal year 2023. The report indicated that the company had seen an impressive 23.9% increase in revenue for this period.

However, their net income had decreased by 16.9%, causing their stock to plunge 11.5% from the previous closing price of 151.3 to 133.8. This resulted in an opening market price of 141.1, a significant drop from Tuesday’s closing price. The company attributed the boost in revenue to an increase in sales of their agricultural products and successful cost-cutting initiatives implemented in various divisions. Despite these successes, the decrease in net income was the result of rising operating expenses due to higher labor costs and increased taxes. While the dip in stock prices has been disconcerting for investors, LINDSAY CORPORATION management remains optimistic about their long-term prospects. They are confident that their cost-saving strategies and measures to enhance efficiency will lead to strong growth in revenue and net income over the next few quarters. Live Quote…

Analysis

GoodWhale has taken a deeper look at LINDSAY CORPORATION‘s financials and has determined that it is a medium risk investment. We took into account the financial and business aspects, as well as our proprietary Risk Rating system to come to this conclusion. Our Risk Rating considers a wide range of factors in order to give you the most accurate assessment of how risky an investment is. In addition to the Risk Rating, we have detected two risk warnings in the company’s balance sheet. If you would like to access this information, you can register on our website – goodwhale.com. Once you are registered, you can view our detailed analysis and make a more informed decision regarding your investment. More…

Peers

The Company operates through three segments: Irrigation, Infrastructure, and Industrial. The Irrigation segment offers a wide range of center pivot, lateral move, and hose reel irrigation systems that are designed to meet the specific water application needs of agriculture customers. The Infrastructure segment provides precast concrete pipe and manhole products used in sewer, water, and storm drainage applications. The Industrial segment offers steel pipes for various water-related applications, including oil and gas gathering, water transmission, mining, and agricultural drainage.

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Summary

Investors in Lindsay Corporation should take note of the company’s results for the second quarter of FY2023, which ended on February 28th 2023. The company reported total revenue of USD 18.1 million, a 23.9% increase compared to the same period the previous year.

However, net income dropped by 16.9% to USD 166.2 million. Following this news, the stock price fell on April 4th 2023. Although total revenue has increased, the decrease in net income has caused investors to be cautious when considering this stock. Investors should continue to monitor the performance of Lindsay Corporation in order to make an informed investment decision.