Lindsay Corporation · NYSE:LNN
Lindsay — Q2 2021 Earnings Presentation
14 slides from Lindsay's earnings presentation, Apr 6, 2021
Slide 1: 2nd Quarter Fiscal 2021 Earnings Slide Deck
2nd 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. Yo
Slide 3: Second Quarter Summary
Second Quarter Summary Revenues increased $29.8 million compared to prior year Irrigation increased $25.1 million Infrastructure increased $4.7 million Operating income increased $7.2 million compared to prior year results Irrigation increased $8.0 million Infrastructure increased $0.4 million Corpo
Slide 4: Second Quarter and YTD Financial Summary
Second 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 5: Current Market Factors
Current Market Factors As of February 2021, U.S. corn and soybean prices have reached multi-year highs as a result of lower production levels in 2020 coupled with higher demand coming primarily from increased exports to China. Estimated net farm income for 2020 of $121.1 billion increased 46 percent
Slide 6: Irrigation Segment
Irrigation Segment 6 North America revenue increased $13.1 million Higher irrigation equipment unit sales volume Higher average selling prices Lower engineering services revenue International revenue increased $12.0 million Higher irrigation equipment unit sales volume in several regions Unfavorable
Slide 7: Infrastructure Segment
Infrastructure Segment Total revenue increased $4.7 million Higher Road Zipper System® sales and lease revenue Sales of road safety products were relatively flat with prior year Operating income increased $0.4 million Positive margin mix from higher Road Zipper System® sales and lease revenue Negati
Slide 8: COVID-19 Update
COVID-19 Update Innovative Market Leader – Sustainable Solutions Lindsay’s products and technologies support the following critical infrastructure sectors as defined by the Department of Homeland Security (CISA.gov) and other global government agencies: Food and Agriculture – our irrigation business
Slide 9: Our COVID-19 Response
Financial Flexibility Strengthening our balance sheet and managing leverage. Managing operations to minimize customer disruption and ensure continuity of supply. Business Continuity Safety First Prioritizing safety with work-from-home policy, safety practices at all locations and restricting non-ess
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
Summary Balance Sheet ”ALINDSAY™ énmitions) February 28,| February 29,| August 31, 2021 2020 2020 Cash, cash equivalents and marketable securities $130.3 $120.0 $140.9 Current assets $375.6 $325.0 $347.9 Current liabilities $114.8 $87.8 $102.4 Net working capital $260.8 $237.2 $245.5 Long-term debt
Slide 13: Summary of Cash Flow
Summary of Cash Flow * YTD FY21 includes $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 (1) Other includes debt repayments, net cash sources/uses from note receivables, net investment hedges, stock compensation and related tax benefits. Targeted cash balance of $60-75 million, including international accounts To support cyclic