Filing Flows › Lindsay (LNN) › Q2 FY25
Lindsay (LNN) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Apr 3, 2025
Lindsay (LNN) reported revenue of $187M for the second quarter fiscal 2025 (Q2 FY25), +23% from a year earlier and +12% from the quarter before. Operating margin was 17.2%, net earnings $26.6M (14.2% of revenue).
Lindsay, Q2 FY25: revenue $187M (+24% year over year), operating margin 17.2%, net earnings $26.6M, operating cash flow $12.3M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $187M | +12% | +23% |
| Gross profit | $62.5M | +25% | +28% |
| Operating profit | $32.1M | +54% | +45% |
| Net earnings | $26.6M | +55% | +47% |
| Operating cash flow | $12.3M | -43% | — |
| Free cash flow | $2.5M | -80% | — |
What changed
Revenue was $187.1M in Q2 FY25, up 23% year over year and up 12% from the previous quarter. Irrigation was the largest line at 79% of revenue. Infrastructure added $20.4M year over year (up 110%), 57% of the total change.
Gross margin was 33.4%, up 1.1 points from a year earlier. Operating profit was $32.1M, a 17.2% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 15% margin then. Operating expenses grew 13% against revenue growth of 23%. The fastest-growing cost line was Sales & marketing (+14%). Net earnings were $26.6M, up 47% year over year. The effective tax rate was 20.0%.
Operating cash flow was $12.3M, 46% of net earnings. Non-cash charges added back $5.2M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $21.5M. Capital expenditures of $9.8M left free cash flow of $2.5M.
Questions
What was Lindsay's revenue in the second quarter fiscal 2025?
Lindsay (LNN) reported revenue of $187M for the second quarter fiscal 2025 (Q2 FY25), +23% from a year earlier and +12% from the quarter before.
Was Lindsay profitable in the second quarter fiscal 2025?
Operating profit was $32.1M (17.2% of revenue) and net earnings $26.6M.
Source: Lindsay 10-Q on SEC EDGAR.