Why Lindsay Shares Are Sliding Today
Portfolio Pulse from Nabaparna Bhattacharya
Lindsay Corporation (NYSE:LNN) reported a Q3 FY23 operating revenue decline of 23.2% YoY to $164.55 million, missing the consensus of $208.40 million. EPS of $1.53 also missed the street view of $2.15. The company cited economic uncertainty and negative farmer sentiment as reasons for the decline. The company's shares are trading lower by 6.54%.
June 29, 2023 | 1:46 pm
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NEGATIVE IMPACT
Lindsay Corporation reported lower than expected Q3 FY23 earnings and revenue, leading to a drop in its share price.
Lindsay Corporation reported a significant decline in its Q3 FY23 operating revenue and EPS, missing the consensus estimates. This negative financial performance has led to a decrease in its share price. The company's outlook also indicates potential challenges due to economic uncertainty and negative farmer sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100