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Lindsay Corporation (LNN) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing includes financial statements for the quarter, showing an increase in operating revenues to $187.1 million from $151.5 million in the same quarter the previous year. The increase is attributed to higher revenues in both the irrigation and infrastructure segments.
Cost of operating revenues for the quarter was $124.6 million, resulting in a gross profit of $62.5 million, up from $49.0 million in the previous year. The gross margin improved to 33.4% from 32.3% in the same quarter of the previous year.
Operating expenses increased to $30.4 million from $26.9 million, primarily due to higher incentive compensation expenses.
Net earnings for the quarter were $26.6 million, up from $18.1 million in the previous year. Earnings per diluted share were $2.44, compared to $1.64 in the previous year.
Cash provided by operating activities was $33.9 million for the six months ended February 28, 2025, compared to $12.1 million in the same period the previous year.
The company reported a backlog of unshipped orders totaling $127.0 million as of February 28, 2025, compared to $94.2 million the previous year.
Lindsay Corporation continues to focus on its irrigation and infrastructure segments, with significant opportunities for growth in international markets and through large projects such as the ongoing project in the Middle East and North Africa region.
The filing also details the company's capital allocation plan, which includes investments in growth, dividends, acquisitions, and share repurchases.
The company maintains a strong liquidity position with cash, cash equivalents, and marketable securities totaling $186.7 million as of February 28, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lindsay Corporation quarterly 10-Q report dated April 3, 2025. To report an error, please email earnings@qz.com.