Lindsay Corp Q3 EPS substantially miss the Street, shares plunge
Provider of irrigation systems and infrastructure products Lindsay Corp. (NYSE:LNN) reported an increase in fiscal third-quarter earnings this morning; however results substantially missed the consensus on Wall Street, sending shares into a tail spin.
On the positive, total revenues increased 54% from the year-ago quarter and managed to beat the Street, as total irrigation equipment revenues increased 60%, domestic irrigation revenues increased 46% and international irrigation revenues increased 95% from the prior year’s quarter.
Shares plummeted 27%, or $32.82, to $91.61 in pre-market trading. For detailed price information and recent news stories about Lindsay, click LNN.
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