Filing Flows › Lindsay (LNN) › Q3 FY26 › vs Q3 FY25
Lindsay (LNN) Q3 FY26 vs Q3 FY25 (year over year)
Lindsay's revenue fell $8.7M (-5%) from $169M in Q3 FY25 to $161M in Q3 FY26. The biggest changes: Irrigation −$10.7M (-7%); Infrastructure +$2.0M (+8%). Gross margin 29.8% against 31.6% (-1.9 pts).
Lindsay, Q3 FY26: revenue $161M (-5% year over year), operating margin 11.5%, net earnings $15.8M, operating cash flow $6.7M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 29.8% | 31.6% | -1.9 pts |
| Operating margin | 11.5% | 14.0% | -2.5 pts |
| Net margin | 9.8% | 11.5% | -1.7 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Irrigation | $133M | $144M | −$10.7M | -7% |
| Infrastructure | $27.7M | $25.7M | $2.0M | +8% |
| Revenue | $161M | $169M | −$8.7M | -5% |
| Gross profit | $47.8M | $53.6M | −$5.8M | -11% |
| Cost of revenue | $113M | $116M | −$2.9M | -3% |
| Other income, net | $2.1M | $1.9M | $144K | +7% |
| Operating profit | $18.5M | $23.8M | −$5.3M | -22% |
| Operating expenses | $29.3M | $29.8M | −$510K | -2% |
| Pre-tax earnings | $20.6M | $25.7M | −$5.1M | -20% |
| Research & development | $4.7M | $4.7M | −$59K | -1% |
| Sales & marketing | $10.3M | $10.2M | $103K | +1% |
| General & admin | $14.3M | $14.9M | −$554K | -4% |
| Net earnings | $15.8M | $19.5M | −$3.7M | -19% |
| Income tax | $4.8M | $6.2M | −$1.5M | -23% |
| Operating cash sources | $23.6M | $26.6M | −$3.0M | -11% |
| Depreciation & amortization | $5.9M | $5.1M | $786K | +15% |
| Share-based compensation | $1.9M | $2.0M | −$150K | -7% |
| Working capital & other | $16.9M | −$8.4M | $25.3M | — |
| Operating cash flow | $6.7M | $35.0M | −$28.3M | -81% |
| Capital expenditures | $8.1M | $9.3M | −$1.3M | -14% |
| Negative free cash flow (OCF − capex) | $1.4M | −$25.7M | $27.1M | — |
Questions
How much did Lindsay's revenue grow year over year in Q3 FY26?
Lindsay's revenue fell $8.7M (-5%) from $169M in Q3 FY25 to $161M in Q3 FY26.
What drove Lindsay's revenue change in Q3 FY26?
Irrigation −$10.7M (-7%); Infrastructure +$2.0M (+8%).