Lindsay Names Dual Interim Co-CFOs, Launches External Search
Management Succession
Company Background
Lindsay Corp is a roughly $1.2 billion market-cap manufacturer of center-pivot irrigation systems — sold under the Zimmatic brand — and road-safety infrastructure equipment including its Road Zipper moveable barrier systems. Founded in 1955 and headquartered in Omaha, Nebraska, the company serves agricultural customers in North America, Brazil, and international markets including a growing presence in the Middle East and North Africa.
Fiscal 2025 (ended August 31, 2025) was a record year: revenues grew 11% to $676.4 million, operating income rose 15% to $88.1 million, and diluted earnings per share reached $6.78, a record. Fiscal 2026 has been materially weaker. Through nine months ended May 31, 2026, revenues have fallen to $474.3 million from $522.8 million in the prior-year period, and operating income has dropped to $51.1 million from $76.8 million — a 33% decline — as North American irrigation demand remains soft and a large prior-year Road Zipper System project has not repeated in the infrastructure segment.
The company's balance sheet remains sound, with $154.8 million in cash, $115 million in long-term debt not maturing until 2030, and management characterizing available liquidity at roughly $205 million as of May 31, 2026.
What Was Disclosed
Alicia Pfeifer, Vice President, Business Finance, and Brett Coburn, Vice President and Chief Accounting Officer, have been appointed to serve as co-Chief Financial Officers on an interim basis, effective September 1, 2026. Coburn, who was already Lindsay's principal accounting officer, will additionally serve as interim principal financial officer for SEC reporting purposes. Each will receive a $10,000 per month stipend on top of their existing salaries, bonuses, and equity eligibility for as long as they carry the co-CFO responsibilities.