Lindsay Corporation (NYSE:LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today reported its financial results for the first quarter of fiscal 2026, ended November 30, 2025.
Revenues for the quarter totaled $155.8 million, reflecting a 6% decline from $166.3 million in the prior-year period.
The decrease was primarily attributable to lower sales in the irrigation segment, partially offset by growth in the infrastructure segment.
Operating income stood at $19.6 million, down 6% from $20.9 million a year ago.
The reduction stemmed mainly from softer results in irrigation, though stronger performance in infrastructure provided a partial offset.
Operating margin remained steady at 12.6% of sales.
Net earnings were $16.5 million, or $1.54 per diluted share, compared to $17.2 million, or $1.57 per diluted share, in the first quarter of the previous fiscal year.
The year-over-year decline reflected the lower operating income and a modestly higher effective tax rate, mitigated in part by an increase in other income.
During the quarter, Lindsay maintained its balanced capital allocation strategy, returning $30.3 million to shareholders through stock repurchases and paying its regular quarterly dividend.