Agricultural and farm machinery company Lindsay (NYSE: LNN) will be reporting results tomorrow before the bell. Here’s what you need to know.
Lindsay met analysts’ revenue expectations last quarter, reporting revenues of $166.3 million, up 3.1% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA 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 grow 18.7% year on year to $179.9 million, a reversal from the 8.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.89 per share.
Analysts covering the company have generally 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 five times over the last two years.
With Lindsay being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for heavy machinery stocks. However, investors in the segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Lindsay’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $138 (compared to the current share price of $126.61).
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