Lindsay Corporation · NYSE:LNN
Lindsay — Q4 2021 Earnings Presentation
14 slides from Lindsay's earnings presentation, Oct 21, 2021
Slide 1: 4th Quarter Fiscal 2021 Earnings Slide Deck
4th Quarter Fiscal 2021 Earnings Slide Deck Exhibit 99.2
Slide 2: Safe-Harbor Statement
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, Company performance, financial results and planned financing. Y
Slide 3: Fourth Quarter Summary
Fourth Quarter Summary Revenues increased $25.2 million compared to prior year Irrigation increased $48.2 million Infrastructure decreased $23.0 million Operating income decreased $8.0 million compared to prior year results Irrigation increased $4.6 million Infrastructure decreased $14.1 million Ope
Slide 4: Fiscal 2021 Summary
Fiscal 2021 Summary Revenues increased $93.0 million compared to prior year Irrigation increased $122.0 million Infrastructure decreased $29.0 million Operating income was comparable to prior year results Irrigation increased $21.9 million Infrastructure decreased $22.5 million Corporate expense dec
Slide 5: Fourth Quarter and YTD Financial Summary
Fourth Quarter and YTD Financial Summary Certain immaterial reclassifications have been made to the prior year operating results to conform with the current year presentation, as revenue and operating income from certain product lines included within the infrastructure reporting segment in the prior
Slide 6: Current Market Factors
Current Market Factors Agricultural commodity prices improved significantly due to lower yield expectations in the U.S. as well as increased exports to China, with corn prices approximately 66 percent higher and soybean prices approximately 42 percent higher compared to August 2020. 2021 Net farm in
Slide 7: Irrigation Segment – Fourth Quarter Summary
Irrigation Segment – Fourth Quarter Summary North America revenue increased $12.3 million Higher irrigation equipment unit sales volume Higher average selling prices International revenue increased $35.9 million Higher irrigation equipment unit sales volume in most international markets, led by Braz
Slide 8: Infrastructure Segment – Fourth Quarter Summary
Infrastructure Segment – Fourth Quarter Summary Total revenue decreased $23.0 million Lower Road Zipper System® sales United Kingdom project and Japan barrier order in the prior year of approximately $27.0 million Higher Road Zipper System® lease revenue Higher sales of road safety products Operatin
Slide 9: Road Zipper Sales Funnel of $800M+
Road Zipper Sales Funnel of $800M+ Tracking 100+ active projects 20+ countries have active opportunities Continue to focus on managing projects through the various stage gates Strong pipeline of projects supports future growth expectations Pre-qualified Leads Expected $150M+ $680M+ Qualified 25-50%
Slide 10: Innovation Leadership: Addressing Global Megatrends
Innovation Leadership: Addressing Global Megatrends Capitalizing on global megatrends Key Trends Food Security Water Scarcity Land Availability Mobility Safety Reducing Emissions Labor Savings
Slide 11: Strong Commitment to Sustainable Practices
Strong Commitment to Sustainable Practices Our mission is to provide solutions that conserve natural resources, enhance the quality of life for people, and expand our world’s potential. Investing in sustainable technologies Improving our operational footprint Empowering and protecting our people Eng
Slide 12: Summary Balance Sheet and Liquidity
Summary Balance Sheet and Liquidity As of August 31, 2021: Available liquidity of $196.7 million, with $146.7 million in cash, cash equivalents and marketable securities and $50.0 million available under revolving credit facility Total debt of $115.7 million, of which $115.0 million matures in 2030
Slide 13: Summary of Cash Flow
Summary of Cash Flow FY21 capital expenditures include $8.5 million to exercise a purchase option for the land and buildings related to the Company’s manufacturing operation in Turkey
Slide 14: Capital Allocation – A Balanced Approach
Capital Allocation – A Balanced Approach Allocation History Other includes debt repayments, net cash sources/uses from note receivables, net investment hedges, stock compensation and related tax benefits. Ending cash includes marketable securities Targeted cash balance of $60-75 million, including i