Lindsay reports Q4 EPS $1.17, consensus $1.01

Reports Q4 revenue $155.0M, consensus $145.47M. “While agricultural markets globally remain challenged due to lower grain prices and grower profitability, I am pleased with the demonstrated resilience and performance of our North America irrigation business. Equipment sales volume in both the fourth quarter and full year grew versus the prior year periods and operating performance also improved. International irrigation results continue to be impacted by lower sales activity in Brazil, following record Q4 and full-year sales levels last year. During Q4 we began delivery on the previously announced irrigation project in the MENA region, which helped to offset some of the market softness in Brazil,” said CEO Randy Wood. “Q4 and full year growth in our Road Zipper System lease revenues drove margin expansion and improved infrastructure results…Our operating performance, along with diligent working capital management, resulted in free cash flow generation that exceeded net earnings for a second consecutive year. The strength of our balance sheet allows us to continue funding growth initiatives in innovation and other long-term shareholder value creation opportunities.”