Lindsay's stock plunges toward 2-year low after trade dispute leads to profit and sales miss [MarketWatch]
Lindsay Corporation (LNN)
Last lindsay corporation earnings: 4/7 06:45 am
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Source: MarketWatch
Lindsay's stock plunges toward 2-year low after trade dispute leads to profit and sales miss Shares of Lindsay Corp. LNN, -8.75% plunged 15% toward a 2-year low in premarket trade Tuesday, after the Nebraska-based maker of irrigation equipment missed fiscal second-quarter profit and sales expectations, citing the negative impact the U.S.-China trade dispute is having on farmer sentiment. For the quarter to Feb. 28, Lindsay swung to a net loss of $3.4 million, 32 cents a share, from a profit of $1.7 million, or 16 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS was 2 cents a share. The FactSet EPS consensus was 38 cents a share. Sales fell 16% to $109.2 million, missing the FactSet consensus of $115.4 million, as irrigation and infrastructure segment sales both missed expectations. "Impacts of the recent widespread flooding in the Midwest are unknown at this time, and we don't expect to see meaningful improvement in farmer sentiment while the U.S-C
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News
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LNN
Earnings
- 4/4/24 - Beat
LNN
Sec Filings
- 4/4/24 - Form 10-Q
- 4/4/24 - Form 8-K
- 2/13/24 - Form SC
- LNN's page on the SEC website