Lindsay Corporation · NYSE:LNN
Lindsay — Q1 FY2018 Earnings Presentation
12 slides from Lindsay's earnings presentation, Dec 21, 2017
Slide 1: Earnings Call Presentation 1st Quarter Fiscal 2018
Earnings Call Presentation 1 st Quarter Fiscal 2018 ADVANCING INNOVATION TO SOLVE GLOBAL CHALLENGES
Slide 2: Safe-Harbor Statement
1 st Quarter Fiscal 2018 Earnings Call Presentation 2 Safe - Harbor Statement This presentation contains forward - looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Compan
Slide 3: First Quarter Delivers Improved Results
1 st Quarter Fiscal 2018 Earnings Call Presentation 3 First Quarter Delivers Improved Results 25.7%26.0% Q1 FY17Q1 FY18Gross Margin $0.08 $0.30 Q1 FY17Q1 FY18Earnings per Share• Revenue increased 13% over prior year • Irrigation revenues increased 15% • Infrastructure revenues increased 3% • Gross M
Slide 4: Summary Income Statement
1 st Quarter Fiscal 2018 Earnings Call Presentation 4 Summary Income Statement ($ in millions, except per share amounts)Q1 - FY18Q1 - FY17% Change Revenue 124.5$ 110.4$ 13% Gross Profit 32.4$ 28.4$ 14% Gross Margin 26.0% 25.7% 0.3 pts Operating Expenses 26.2$ 25.6$ 2% Operating Income6.2$ 2.7$ 127%
Slide 5: Segment Results
1 st Quarter Fiscal 2018 Earnings Call Presentation 5 Segment Results FY17 revenue reclassified to include Canada in North America ($ in millions)Q1 - FY18Q1 - FY17% Change Revenue North America Irrigation67.8$ 52.8$ 28% International Irrigation35.6$ 37.1$ -4% Irrigation103.4$ 89.9$ 15% Infrastructu
Slide 6: Irrigation Segment
1 st Quarter Fiscal 2018 Earnings Call Presentation 6 Irrigation Segment North America revenues increased 28% • Irrigation system unit volume increased across most regions • Revenues from other irrigation components increased modestly International revenues decreased 4% • Lower level of project sale
Slide 7: Infrastructure Segment
1 st Quarter Fiscal 2018 Earnings Call Presentation 7 Infrastructure Segment Revenue increase of 3% over prior year • Increased sales volume in road safety products • Higher Road Zipper System® lease revenue Operating margin of 15.5% versus 14.5% in the prior year • Favorable product mix shift withi
Slide 8: Summary Balance Sheet
1 st Quarter Fiscal 2018 Earnings Call Presentation 8 Summary Balance Sheet • Cash increase of $6.4 million • DSO – 54 days versus 57 days in the prior year • DSI – 97 versus 8 6 in the prior year • Working capital increase to support sales and backlog growth ($ in millions)Nov 30, 2017Nov 30, 2016C
Slide 9: Summary of Cash Flows
1 st Quarter Fiscal 2018 Earnings Call Presentation 9 Summary of Cash Flows ($ in millions)YTD-FY18YTD-FY17Net earnings$3.2 $0.9 Depreciation / amortization$4.3 $4.0 Changes in assets and liabilities: Receivables ($6.5) $10.4 Inventories($8.7) ($5.7) Other working capital($1.1) ($4.1) Other$3.8 $2.6
Slide 10: Attractive Long-Term Market Drivers
1 st Quarter Fiscal 2018 Earnings Call Presentation 10 Attractive Long - Term Market Drivers Water Conservation Alternative Fuels Increase Yields Improve Road Safety Population Growth Advancing Technology
Slide 11: Current Market Factors
1 st Quarter Fiscal 2018 Earnings Call Presentation 11 Current Market Factors • Net Farm Income projected to be $63.2 billion a 3% increase from 2016 • USDA average corn prices • $2.85 - $3.55 per bushel • Commodity prices stabilized but expected to remain flat given high carryover stock levels • EP
Slide 12: Capital Allocation – A Balanced Approach
1 st Quarter Fiscal 2018 Earnings Call Presentation 12 Capital Allocation – A Balanced Approach (1) Includes marketable securities that were not included in the cash and cash equivalents balance on 8/31/07. (2) Other includes debt repayments, net cash sources/uses from note receivables, net investme