Lindsay CFO Resigns After Eight Months, No Successor Named

Lindsay Corporation (NYSE: LNN), founded in 1955 and headquartered in Omaha, Nebraska, manufactures and sells center-pivot irrigation systems under the Zimmatic brand and infrastructure safety products — primarily its Road Zipper moveable barrier system — to transportation agencies worldwide. With a market capitalization of approximately $1.2 billion, the company operates in two segments: Irrigation, which accounts for the large majority of revenues, and Infrastructure.

Fiscal year 2025, which ended August 31, 2025, was a banner year: revenues rose 11 percent to $676.4 million, net earnings hit a record $74.1 million, and diluted EPS reached $6.78. Fiscal 2026 has reversed that trajectory. Revenues fell 6 percent year-over-year in the first quarter ended November 30, 2025, dropped 16 percent in the second quarter ended February 28, 2026 — partly due to a $20 million Road Zipper project that did not repeat — and declined a further 5 percent in the third quarter ended May 31, 2026. Operating income for the nine months through May 31, 2026 totaled $51.1 million, down from $76.8 million in the prior-year period. The company is executing on an approximately $80 million irrigation project in the MENA region, with roughly $70 million of revenue expected in fiscal 2026, which has provided a partial offset to weakness in North America and Brazil.

The balance sheet remains solid: cash stood at $154.8 million at May 31, 2026, long-term debt is $114.8 million with a 2030 maturity, and the company has repurchased $80.7 million of its shares in the nine months through May 31, 2026 under a $150 million buyback authorization approved in November 2025.