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September 01, 2020 1:29pm
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What To Expect From Lindsay’s (LNN) Q3 Earnings

LNN Cover Image

Agricultural and farm machinery company Lindsay (NYSE:LNN) will be announcing earnings results tomorrow morning. Here’s what to expect.

Lindsay missed analysts’ revenue expectations by 3.6% last quarter, reporting revenues of $139.2 million, down 15.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ earnings estimates but a miss of analysts’ organic revenue estimates.

Is Lindsay a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Lindsay’s revenue to decline 13% year on year to $145.5 million, in line with the 12.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.01 per share.

Lindsay Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lindsay has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Lindsay’s peers in the heavy machinery segment, only PACCAR has reported results so far. It beat analysts’ revenue estimates by 1.4%, posting year-on-year sales declines of 6.4%.

Read our full analysis of PACCAR’s earnings results here.

Investors in the heavy machinery segment have had steady hands going into earnings, with share prices flat over the last month. Lindsay is down 9.5% during the same time and is heading into earnings with an average analyst price target of $132 (compared to the current share price of $112.31).

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