Lindsay CEO provides 2025 outlook

Lindsay (LNN) CEO Randy Wood provided the company’s outlook. “In February, the USDA released its initial forecast for 2025 U.S. net farm income, which estimated a 29 percent increase compared to 2024. The forecast anticipates higher government support payments while crop receipts are forecasted to be slightly lower than the prior year. Accordingly, we don’t expect this forecast of 2025 U.S. net farm income to result in a meaningful improvement in demand for irrigation equipment in North America in the near term…Q2 performance in our infrastructure business supports full year growth for FY25. Anticipated increased U.S. infrastructure funding, although partially offset by the impact of inflation on construction costs, remains supportive of opportunities for Road Zipper System lease revenues and sales of road safety products…In regard to the U.S.’s recently announced tariffs on imports from Canada, Mexico, China and other countries, we have implemented a comprehensive action plan that includes supplier negotiation, strategic inventory placement, and other supply chain initiatives to manage potential cost impacts to our business. We anticipate the impact of the proposed tariffs to result in a marginal increase to our cost of goods, which we would expect to pass through to the market through increased pricing of our products. We are also evaluating the potential impact of additional tariffs or retaliatory actions. While the situation remains fluid, we plan to utilize our global footprint and supply chain to minimize the potential impact of these actions on our business and our customers.”