Form 8-K
8-K — LINDSAY CORP
Accession: 0001193125-26-138910
Filed: 2026-04-02
Period: 2026-04-02
CIK: 0000836157
SIC: 3523 (FARM MACHINERY & EQUIPMENT)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — lnn-20260402.htm (Primary)
EX-99.1 (lnn-ex99_1.htm)
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8-K
8-K (Primary)
Filename: lnn-20260402.htm · Sequence: 1
8-K
false000083615700008361572026-04-022026-04-02
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 02, 2026
Lindsay Corporation
(Exact name of Registrant as Specified in Its Charter)
Delaware
1-13419
47-0554096
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
18135 Burke Street
Suite 100
Omaha, Nebraska
68022
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s Telephone Number, Including Area Code: (402) 829-6800
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common Stock, $1.00 par value
LNN
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 2, 2026, Lindsay Corporation (the “Company”) issued a press release announcing the Company’s results of operations for its second quarter ended February 28, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.
In addition, a copy of the slide presentation to be used during the Company’s fiscal 2026 second quarter investor conference call at 11:00 a.m. Eastern Time on April 2, 2026 is furnished herewith as Exhibit 99.2.
Item 9.01 Financial Statements and Exhibits.
99.1 Earnings Press Release, dated April 2, 2026, issued by the Company.
99.2 Slide Presentation for Fiscal 2026 Second Quarter Investor Conference Call on April 2, 2026.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
In accordance with General Instruction B.2 of Form 8-K, the information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 relating to Item 2.02 and attached hereto, is being “furnished” and, as such, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LINDSAY CORPORATION
Date:
April 2, 2026
By:
/s/ Samuel S. Hinrichsen
Samuel S. Hinrichsen, Senior Vice President and Chief Financial Officer
EX-99.1
EX-99.1
Filename: lnn-ex99_1.htm · Sequence: 2
EX-99.1
Exhibit 99.1
18135 BURKE ST. OMAHA, NE 68022 TEL: 402-829-6800 FAX: 402-829-6836
Lindsay Corporation Reports Fiscal 2026 Second Quarter Results
International irrigation project in the Middle East North Africa (MENA) region remains on schedule
OMAHA, Neb., April 2, 2026 - Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its second quarter of fiscal 2026, which ended on February 28, 2026.
Key Highlights:
•
Deliveries began for the $80.0 million irrigation and technology project in the MENA region
•
Irrigation revenues decreased 5 percent as market uncertainty persists
•
Continued growth in road safety products with Infrastructure revenue up 6 percent, excluding Road Zipper SystemTM project that was included in the prior year
•
Completed $25.2 million of share repurchases during the quarter, bringing total repurchases to $55.5 million for the fiscal year
“During the quarter we began shipping the large project in the Middle East North Africa (MENA) region. While this project remains on schedule, we are exercising caution and prioritizing the safety of our teams in the region" said Randy Wood, President and Chief Executive Officer. "Solid execution of this project is helping to support revenue performance as U.S. market conditions continue to put pressure on commodity prices and constrain demand for irrigation equipment. Credit availability constraints and persistently high interest rates continue to suppress demand in Brazil, resulting in lower order levels this quarter. Excluding the $20 million Road Zipper System project in the prior year, which was not expected to repeat, our infrastructure business increased 6 percent. This growth was driven by a sustained increase in road construction activity supporting increased sales of road safety products. We continued executing against our capital allocation priorities and completed $25.2 million of share repurchases leaving $125 million available under the recent $150 million authorization."
Wood continued, "I am pleased with the resiliency and performance of our teams around the world, as we demonstrate our ability to deliver on project opportunities despite a very volatile macro-economic environment. During the quarter, our Infrastructure team introduced two new road safety products. The Road RunnerTM truck-mounted attenuator and the AlphaGuardTM barrier system. These new products highlight our continued investment in innovation and the growing demand for high-performance roadway safety solutions."
Second Quarter Summary
Consolidated Financial Summary
Second Quarter
(dollars in millions, except per share amounts)
FY2026
FY2025
$ Change
% Change
Total revenues
$157.7
$187.1
($29.3)
(16%)
Operating income
$13.0
$32.1
($19.1)
(59%)
Operating margin
8.3%
17.2%
Net earnings
$12.0
$26.6
($14.5)
(55%)
Diluted earnings per share
$1.15
$2.44
($1.29)
(53%)
Revenues for the second quarter of fiscal 2026 were $157.7 million, a decrease of $29.3 million, or 16 percent, compared to $187.1 million in the prior year. The decrease was primarily driven by lower revenues in both the irrigation and infrastructure segments compared to the prior year.
Operating income for the second quarter of fiscal 2026 was $13.0 million, a decrease of $19.1 million, or 59 percent, compared to $32.1 million in the prior year. Lower operating income in both the irrigation and infrastructure segments was partially offset by a reduction in corporate expense. Operating margin was 8.3 percent of sales, compared to 17.2 percent of sales in the prior year.
1
Net earnings for the second quarter of 2026 were $12.0 million, or $1.15 per diluted share, compared to $26.6 million, or $2.44 per diluted share, in the prior year. Net earnings were impacted by lower operating income and a higher effective tax rate, both of which were partially offset by an increase in other income.
Second Quarter Segment Results
Irrigation Segment
Second Quarter
(dollars in millions)
FY2026
FY2025
$ Change
% Change
Revenues:
North America
$71.0
$77.1
($6.1)
(8%)
International
$70.2
$71.0
($0.8)
(1%)
Total revenues
$141.2
$148.1
($6.9)
(5%)
Operating income
$19.5
$27.4
($7.9)
(29%)
Operating margin
13.8%
18.5%
Irrigation segment revenues for the second quarter of fiscal 2026 were $141.2 million, a decrease of $6.9 million, or 5 percent, compared to $148.1 million in the prior year. North America irrigation revenues of $71.0 million decreased $6.1 million, or 8 percent, compared to the prior year. The decrease in revenues resulted primarily from lower unit sales volume, and was partially offset by higher average selling prices compared to the prior year. Persistent weakness in commodity markets and tempered farmer sentiment continue to constrain demand for irrigation equipment in North America.
International irrigation revenues for the second quarter of fiscal 2026 of $70.2 million decreased $0.8 million, or 1 percent, compared to the prior year. The decrease resulted primarily from lower sales volumes in Brazil and timing of project volume in the MENA region, which were partially offset by growth in various other regions. In Brazil, available credit and elevated interest rates continue to limit farmers' ability to invest in capital equipment. Revenues in the current year quarter were favorably impacted by the effects of foreign currency translation of approximately $4.0 million compared to the prior year.
Irrigation segment operating income for the second quarter of fiscal 2026 was $19.5 million, a decrease of $7.9 million, or 29 percent, compared to the prior year. Operating margin was 13.8 percent of sales, compared to 18.5 percent of sales in the prior year. The decrease in operating income resulted primarily from lower unit sales volume, a higher proportion of international project sales volume and the impact of fixed cost deleverage compared to the prior year.
Infrastructure Segment
Second Quarter
(dollars in millions)
FY2026
FY2025
$ Change
% Change
Total revenues
$16.5
$38.9
($22.4)
(58%)
Operating income
$1.2
$13.3
($12.1)
(91%)
Operating margin
7.1%
34.1%
Infrastructure segment revenues for the second quarter of fiscal 2026 were $16.5 million, a decrease of $22.4 million, or 58 percent, compared to $38.9 million in the prior year. The decrease was primarily attributable to lower Road Zipper System revenues as the prior year included a $20 million project that did not repeat. Sales of road safety products increased compared to the prior year.
Infrastructure segment operating income for the second quarter of fiscal 2026 was $1.2 million, a decrease of $12.1 million, or 91 percent, compared to the prior year. Operating margin was 7.1 percent of sales, compared to 34.1 percent of sales in the prior year. The decrease in operating income resulted primarily from lower Road Zipper System project revenues compared to the prior year.
The backlog of unfulfilled orders at February 28, 2026 was $151.8 million compared with $127.0 million at February 28, 2025. Included in these backlogs are amounts of $19.2 million and $11.9 million, respectively, for orders that are not expected to be fulfilled within the subsequent 12 months. The backlog in irrigation increased as a result of the large irrigation project in the MENA region, while the backlog in infrastructure decreased compared to the prior year.
Outlook
Mr. Wood concluded, “In the U.S., irrigation market conditions remain soft as growers await further trade certainty and hope to see improvement in commodity prices. We expect Brazil to return to growth due to the solid drivers of secular demand that support investments in irrigation, although credit constraints and high interest rates will remain a headwind.
2
We will continue delivery of the irrigation project in the MENA region and we expect to recognize approximately $70 million of revenue for the project in our current fiscal year."
“In infrastructure, we anticipate growth in road safety products and are encouraged by the positive feedback we have received on the new products we just introduced at the American Traffic Safety Services Association trade show. We continue to actively manage a robust pipeline of Road Zipper System projects, but we do not expect to deliver a large project in fiscal 2026.”
Second Quarter Conference Call
Lindsay’s fiscal 2026 second quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (833) 535-2202 in the U.S., or (412) 902-6745 internationally, and requesting the Lindsay Corporation call. Additionally, the conference call will be simulcast live on the internet and can be accessed via the investor relations section of the Company's website, www.lindsay.com. Replays of the conference call will remain on our website through the next quarterly earnings release. The Company will have a slide presentation available to augment management's formal presentation, which will also be accessible via the Company's website.
About the Company
Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.
Concerning Forward-looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” "expect," "outlook," "could," "may," "should," “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.
For further information, contact:
LINDSAY CORPORATION:
Alpha IR Group:
Alicia Pfeifer
Joe Caminiti and Abe Plimpton
Vice President, Investor Relations & Treasury
312-445-2870
402-933-6429
LNN@alpha-ir.com
Alicia.Pfeifer@lindsay.com
3
LINDSAY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
Three months ended
Six months ended
(in thousands, except per share amounts)
February 28,
2026
February 28,
2025
February 28,
2026
February 28,
2025
Operating revenues
$
157,715
$
187,064
$
313,533
$
353,345
Cost of operating revenues
115,366
124,576
221,082
240,891
Gross profit
42,349
62,488
92,451
112,454
Operating expenses:
Selling expense
10,517
10,850
21,536
21,062
General and administrative expense
14,742
15,352
29,580
30,360
Engineering and research expense
4,076
4,162
8,716
8,026
Total operating expenses
29,335
30,364
59,832
59,448
Operating income
13,014
32,124
32,619
53,006
Other income:
Interest income, net
1,984
1,441
5,303
1,934
Other income (expense), net
569
(351
)
(469
)
307
Total other income
2,553
1,090
4,834
2,241
Earnings before income taxes
15,567
33,214
37,453
55,247
Income tax expense
3,522
6,638
8,884
11,508
Net earnings
$
12,045
$
26,576
$
28,569
$
43,739
Earnings per share:
Basic
$
1.15
$
2.45
$
2.71
$
4.03
Diluted
$
1.15
$
2.44
$
2.70
$
4.01
Shares used in computing earnings per share:
Basic
10,449
10,863
10,561
10,858
Diluted
10,486
10,909
10,593
10,906
Cash dividends declared per share
$
0.37
$
0.36
$
0.74
$
0.72
4
LINDSAY CORPORATION AND SUBSIDIARIES
SUMMARY OPERATING RESULTS
(Unaudited)
Three months ended
Six months ended
(in thousands)
February 28,
2026
February 28,
2025
February 28,
2026
February 28,
2025
Operating revenues:
Irrigation:
North America
$
71,042
$
77,145
$
145,354
$
154,884
International
70,196
70,994
129,321
140,342
Irrigation total
141,238
148,139
274,675
295,226
Infrastructure
16,477
38,925
38,858
58,119
Total operating revenues
$
157,715
$
187,064
$
313,533
$
353,345
Operating income:
Irrigation
$
19,479
$
27,377
$
42,433
$
52,111
Infrastructure
1,165
13,257
5,659
17,381
Corporate
(7,630
)
(8,510
)
(15,473
)
(16,486
)
Total operating income
$
13,014
$
32,124
$
32,619
$
53,006
The Company manages its business activities in two reportable segments as follows:
Irrigation – This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial IoT solutions.
Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment.
5
LINDSAY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
February 28,
2026
February 28,
2025
August 31,
2025
ASSETS
Current assets:
Cash and cash equivalents
$
186,111
$
172,044
$
250,575
Marketable securities
—
14,676
—
Receivables, net
134,056
155,440
113,027
Inventories, net
144,581
154,605
136,859
Other current assets
34,463
29,919
32,303
Total current assets
499,211
526,684
532,764
Property, plant, and equipment, net
162,616
124,757
142,307
Intangibles, net
23,008
24,097
23,331
Goodwill
84,542
83,877
84,459
Operating lease right-of-use assets
20,317
17,583
18,096
Deferred income tax assets
22,873
11,930
19,525
Equity method investment
8,400
7,452
8,763
Other noncurrent assets
16,714
17,805
11,591
Total assets
$
837,681
$
814,185
$
840,836
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
55,231
$
57,612
$
48,670
Current portion of long-term debt
148
231
233
Other current liabilities
109,908
87,044
94,689
Total current liabilities
165,287
144,887
143,592
Pension benefits liabilities
3,283
4,040
3,418
Long-term debt
114,804
114,903
114,810
Operating lease liabilities
19,528
17,063
17,354
Deferred income tax liabilities
2,177
637
1,024
Other noncurrent liabilities
24,839
16,236
27,788
Total liabilities
329,918
297,766
307,986
Shareholders' equity:
Preferred stock
—
—
—
Common stock
19,198
19,155
19,167
Capital in excess of stated value
116,002
107,869
113,042
Retained earnings
766,201
723,008
745,397
Less treasury stock - at cost
(366,713)
(301,119)
(311,224)
Accumulated other comprehensive loss, net
(26,925)
(32,494)
(33,532)
Total shareholders' equity
507,763
516,419
532,850
Total liabilities and shareholders' equity
$
837,681
$
814,185
$
840,836
6
LINDSAY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Six months ended
(in thousands)
February 28, 2026
February 28, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings
$
28,569
$
43,739
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization
11,162
10,608
Provision for uncollectible accounts receivable
(56
)
97
Deferred income taxes
7,140
785
Share-based compensation expense
3,023
3,954
Unrealized foreign currency transaction gain
(657
)
(564
)
Other, net
(828
)
(122
)
Changes in assets and liabilities:
Receivables
(20,820
)
(40,206
)
Inventories
(4,823
)
(2,419
)
Other current assets
(1,125
)
2,874
Accounts payable
5,063
20,685
Other current liabilities
(4,008
)
(5,479
)
Other noncurrent assets and liabilities
1,326
(72
)
Net cash provided by operating activities
23,966
33,880
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment
(27,461
)
(18,918
)
Purchases of marketable securities
—
(14,676
)
Purchase of equity method investment
—
(5,815
)
Proceeds from settlement of net investment hedge
—
835
Payments for settlement of net investment hedge
—
(98
)
Other investing activities, net
(1,238
)
(559
)
Net cash used in investing activities
(28,699
)
(39,231
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of common shares
(55,489
)
(1,427
)
Dividends paid
(7,765
)
(7,824
)
Common stock withheld for payroll tax obligations
(1,253
)
(1,450
)
Proceeds from exercise of stock options
805
668
Other financing activities, net
299
248
Net cash used in financing activities
(63,403
)
(9,785
)
Effect of exchange rate changes on cash and cash equivalents
3,672
(3,699
)
Net change in cash and cash equivalents
(64,464
)
(18,835
)
Cash and cash equivalents, beginning of period
250,575
190,879
Cash and cash equivalents, end of period
$
186,111
$
172,044
7
EX-99.2
EX-99.2
Filename: lnn-ex99_2.htm · Sequence: 3
2nd Quarter Fiscal 2026 Earnings Presentation Exhibit 99.2
Safe-Harbor Statement © 2026 Lindsay Corporation This presentation contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance, financial results and planned financing. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Investors should understand that a number of factors could cause future economic and industry conditions and the Company’s actual financial condition and results of operations to differ materially from management’s beliefs expressed in the forward-looking statements contained in this presentation. These factors include those outlined in the “Risk Factors” section of the Company’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission, and investors are urged to review these factors when considering the forward-looking statements contained in this presentation. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. For additional financial statement information, please see the Company’s earnings release dated April 2, 2026.
© 2026 Lindsay Corporation Key Highlights Deliveries began for the $80.0 million irrigation and technology project in the MENA region Irrigation revenues decreased 5 percent as market uncertainty persists Continued growth in road safety products with Infrastructure revenue up 6 percent, excluding Road Zipper System project that was included in the prior year Completed $25.2 million of share repurchases during the quarter, bringing total repurchases to $55.5 million for the fiscal year
Second Quarter Summary © 2026 Lindsay Corporation Revenues decreased $29.3 million, or 16 percent, compared to the prior year Irrigation decreased $6.9 million Infrastructure decreased $22.4 million Operating income decreased $19.1 million, or 59 percent, compared to the prior year Diluted earnings per share decreased $1.29 per share, or 53 percent, compared to the prior year -16% -59% -53% Revenue Operating Income (with operating margin) Diluted EPS $ in millions, except per share amounts
Irrigation – Current Market Factors © 2026 Lindsay Corporation In February, the USDA estimated 2026 U.S. net farm income to be $153.4 billion, a decrease of 1 percent from 2025 U.S. net farm income of $154.5 billion The projected decrease is mainly driven by an expected decrease in cash receipts of 3 percent and is partially offset by an increase in government support payments In December, $12.0 billion Farm Bridge Assistance Program announced $11.0 billion to support row crop farmers with payments beginning in the first calendar quarter of 2026 U.S. trade disruption with China negatively impacts export market for U.S. commodities The One Big Beautiful Bill Act was signed into law July 4, 2025 Extends provisions of the 2017 Tax Act, including accelerated depreciation of equipment purchases Extends key commodity support programs under the Farm Bill, which expired September 30, 2025 Demand for irrigation equipment in Brazil remains suppressed High interest rates and ongoing credit constraints remain as headwinds Commodity price pressure remains due to record harvests Pipeline of project opportunities in developing international markets continues to be robust, driven by secular megatrends of food security and water conservation
Irrigation Segment – Second Quarter Summary © 2026 Lindsay Corporation North America revenue of $71.0 million decreased 8 percent Lower unit sales volume compared to the prior year, due to unfavorable commodity markets and tempered farmer sentiment Higher average selling prices compared to the prior year Unit sales volume breakdown by category: Replacement 44%, Conversion 28%, Dryland 28% International revenue of $70.2 million decreased 1 percent Lower unit sales volume, along with elevated interest rates and credit constraints limit farmers’ capital investments in Brazil Lower revenues in the MENA region due to project timing Favorable effects of foreign currency translation of $4.0 million Operating income of $19.5 million decreased 29 percent Decrease resulted primarily from lower unit sales volume, a higher proportion of international project sales volume and the impact of fixed cost deleverage compared to prior year Revenue -29% -5% Operating Income (with operating margin) 6 $ in millions
Infrastructure – Current Market Factors Infrastructure Investment and Jobs Act (IIJA) funding includes $110 billion in incremental federal funding for roads, bridges, and other transportation projects and runs through September 2026 Inflation on material prices and labor costs have offset some of the impact of incremental funding Through January 2026, 85 percent of the IIJA funds have been committed to the states, and 72 percent of the funds have been reimbursed to the states* The value of state and local government contract awards increased 8-12 percent year to date versus 2025 driven by bridges, tunnels and the rail sector* The Road Zipper ™ project pipeline continues to be actively managed, and project timing remains challenging to predict © 2026 Lindsay Corporation *Source: American Road and Transportation Builders Association
Infrastructure Segment – Second Quarter Summary © 2026 Lindsay Corporation Revenue of $16.5 million decreased 58 percent Lower Road Zipper System revenues due to $20 million project in prior year that did not repeat Higher sales of road safety products compared to the prior year Operating income of $1.2 million decreased 91 percent Lower Road Zipper System project revenues compared to the prior year Revenue -91% Operating Income (with operating margin) -58% $ in millions
© 2026 Lindsay Corporation Ample Liquidity to Execute Capital Allocation Priorities $236M Available liquidity Current Liquidity 1.09x Gross Debt to EBITDA leverage Substantial Room to Add Leverage No Near-Term Debt Maturities $115M Total Debt 2030 Maturity
Capital Allocation Priorities © 2026 Lindsay Corporation Working capital to support sales growth New product development Capacity and productivity investments Align with strategic growth priorities Leverage or add to existing capabilities Deliver incremental return on invested capital Increase annual dividends Opportunistic share repurchase Support Growth and Profitability of Current Businesses Acquisitions Return Capital to Shareholders
Innovation Leadership: Addressing Global Megatrends © 2026 Lindsay Corporation Capitalizing on global megatrends Megatrends Innovation Leadership Innovative sustainable solutions for growers across the globe Mobilizing global populations safely and sustainably Food Security Water Scarcity Land Availability Aging Infrastructure Mobility Safety Increased Safety Standards
Strong Commitment to Sustainable Practices © 2026 Lindsay Corporation Our mission is to conserve natural resources, expand our world’s potential, and enhance the quality of life for people. Investing in sustainable technologies Improving our operational footprint Empowering and protecting our people Engaging in our local communities Operating with integrity
Appendix © 2026 Lindsay Corporation
U.S. Corn Prices Source: Trading Economics © 2026 Lindsay Corporation USD/BU
U.S. Soybean Prices © 2026 Lindsay Corporation USD/BU Source: Trading Economics
United States Drought Condition Source: US Drought Monitor, March 2025/2026 2025 2026 © 2026 Lindsay Corporation
Soybean Cash Price Index – Brazil Source:Cepea © 2026 Lindsay Corporation R$/bag
Brazil Central Bank Interest Rate Source: Trading Economics| Banco Central do Brasil Percent © 2026 Lindsay Corporation
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