Lindsay Corporation · NYSE:LNN
Lindsay — Q1 2025 Earnings Presentation
19 slides from Lindsay's earnings presentation, Jan 7, 2025
Slide 1: 1st Quarter Fiscal 2025 Earnings Slide Deck
1st Quarter Fiscal 2025 Earnings Slide Deck Exhibit 99.2
Slide 2: Safe-Harbor Statement
Safe-Harbor Statement © 2024 Lindsay Corporation 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 resul
Slide 3: Key Messages
© 2024 Lindsay Corporation Key Messages Irrigation revenue growth driven by international project volume in the Middle East and North Africa (MENA) region Infrastructure operating margin expansion leads to improved operating income on lower revenues Net earnings and diluted earnings per share (EPS)
Slide 4: First Quarter Summary
First Quarter Summary © 2024 Lindsay Corporation Revenues increased $4.9 million compared to the prior year Irrigation increased $6.9 million Infrastructure decreased $2.0 million Operating income decreased $0.2 million compared to the prior year Irrigation decreased $0.6 million Infrastructure incr
Slide 5: Irrigation – Current Market Factors
Irrigation – Current Market Factors As of November 2024, U.S. corn and soybean prices were approximately 8 percent and 27 percent lower, respectively, compared to November 2023 In December 2024, the USDA estimated 2024 U.S. net farm income to be $140.7 billion, a decrease of 4 percent from 2023 U.S.
Slide 6: Irrigation Segment – First Quarter Summary
Irrigation Segment – First Quarter Summary © 2024 Lindsay Corporation North America revenue of $77.7 million decreased 13 percent Lower unit sales volume due to challenging market conditions Less favorable mix of shorter machines Lower average selling prices Unit sales volume breakdown by category:
Slide 7: Infrastructure – Current Market Factors
Infrastructure – Current Market Factors Infrastructure Investment and Jobs Act (IIJA) funding includes $110 billion in incremental federal funding for roads, bridges, and other transportation projects Higher inflation on material prices and labor costs has offset some of the impact of the incrementa
Slide 8: Infrastructure Segment – First Quarter Summary
Infrastructure Segment – First Quarter Summary © 2024 Lindsay Corporation Revenue of $21.2 million decreased 9 percent Timing of Road Zipper System™ lease revenue Lower sales of road safety products Operating income of $4.1 million increased 14 percent Improved manufacturing efficiency and lower ope
Slide 9: Ample Liquidity to Execute Capital Allocation Priorities
© 2024 Lindsay Corporation Ample Liquidity to Execute Capital Allocation Priorities $244M Available liquidity Current Liquidity 1.0x Gross Debt to EBITDA leverage Substantial Room to add Leverage No Near-Term Debt Maturities $115M Total Debt Long-term debt matures in 2030
Slide 10: Capital Allocation Priorities
Capital Allocation Priorities © 2024 Lindsay Corporation Working capital to support sales growth New product development Capacity and productivity investments Align with strategic growth priorities Leverage or add to existing capabilities Deliver return on invested capital Increase annual dividends
Slide 11: Innovation Leadership: Addressing Global Megatrends
Innovation Leadership: Addressing Global Megatrends © 2024 Lindsay Corporation Capitalizing on global megatrends Megatrends Innovation Leadership Innovative sustainable solutions for growers across the globe Mobilizing global populations safely and sustainably Food Security Water Scarcity Land Avail
Slide 12: Strong Commitment to Sustainable Practices
Strong Commitment to Sustainable Practices © 2024 Lindsay Corporation Our mission is to conserve natural resources, expand our world’s potential, and enhance the quality of life for people. Investing in sustainable technologies Improving our operational footprint Empowering and protecting our people
Slide 13: Appendix
ZALINDSAY™ Appendix
Slide 14: U.S. Net Farm Income and Net Cash Farm Income
U.S. Net Farm Income and Net Cash Farm Income Inflation adjusted, 2004-2024F 2004-23 average NCFI Note: F = forecast. Values are adjusted for inflation using the U.S. Bureau of Economic Analysis Gross Domestic Product Price Index (BEA API series code: A191RG) rebased to 2024 by USDA, Economic Resear
Slide 15: U.S. Corn Prices
U.S. Corn Prices Source: Trading Economics
Slide 16: U.S. Soybean Prices
U.S. Soybean Prices Source: Trading Economics
Slide 17: Soybean Cash Price Index – Brazil
Soybean Cash Price Index – Brazil Source:Cepea
Slide 18: Brazil Central Bank Interest Rate
Brazil Central Bank Interest Rate Source: Trading Economics| Banco Central do Brasil
Slide 19: United States Drought Condition
United States Drought Condition Source: US Drought Monitor, December 2024 2023 2024