Lindsay Q3 revenue falls 5% to $160.8M; earnings drop 19% on lower irrigation volumes, margin pressure

Filed July 2, 2026 · Period ending May 31, 2026 · Compared to 10-Q Jun 26, 2025 · ~2 min read

Key Changes

• high

  Quarterly revenue declined 5% to $160.8M and net earnings fell 19% to $15.8M ($1.53/share) as North America irrigation sales dropped 11% on weak commodity markets and tempered farmer sentiment, while international irrigation fell 4% on Brazil credit constraints.

  MD&A: Revenue and Earnings verify on EDGAR →
• high

  Gross margin compressed 180 basis points to 29.8% (from 31.6%) driven by higher input costs, fixed-cost deleverage on lower volumes, and unfavorable infrastructure revenue mix; nine-month margin also fell to 29.6% from 31.8%.

  MD&A: Gross Margin verify on EDGAR →
• high

  Company announced new $80M+ MENA irrigation project in December 2025, with ~$70M expected to be recognized in fiscal 2026; revenue recognition began in Q2 FY2026, following completion of prior $100M+ MENA project.

  MD&A: International Irrigation verify on EDGAR →