Lindsay CEO provides market outlook

Lindsay (LNN) CEO Randy Wood stated, “We expect softer market conditions in the North America and Brazil irrigation markets to continue in the near term, although there are indications we are nearing the trough of the cycle with some stabilization and improvement in commodity prices. In addition, new state-level financing programs recently announced in Brazil should provide additional clarity and support for investments in irrigation. We expect continued growth in developing international markets, highlighted by project activity in the MENA region. We expect to see growth in our infrastructure business in FY25 supported by the large Road Zipper System project we secured shortly after the end of our Q1. The impact of additional U.S. federal infrastructure funding has been tempered by construction cost inflation, however it remains supportive of growth in Road Zipper System leasing and sales of road safety products.”