Thu, Jun 27, 8:13 PM (72 days ago)
Lindsay Corporation's Q3 2024 financial report indicates a 15% decline in operating revenues to $139.2 million, driven primarily by a 19% decrease in irrigation segment revenues. Despite this, net earnings rose 21% to $20.4 million, aided by a discrete tax benefit from Brazil. Gross profit fell by 13% to $46.5 million, with gross margins improving slightly to 33.4%. Operating expenses remained stable at $26.6 million. The infrastructure segment saw an 11% revenue increase, bolstering overall performance. Cash flow from operations was $42.7 million, with capital expenditures rising to $23.5 million. The company repurchased $17.9 million in stock and announced a significant new project in the MENA region, enhancing future revenue prospects.