Lindsay Q1 EPS $1.36 Beats $1.27 Estimate, Sales $161.40M Miss $163.43M Estimate
Portfolio Pulse from Benzinga Newsdesk
Lindsay Corporation (NYSE: LNN) reported Q1 earnings of $1.36 per share, surpassing the consensus estimate of $1.27. However, the company experienced a 17.58% decrease in earnings compared to last year's $1.65 per share. Quarterly sales were $161.40M, falling short of the $163.43M estimate, and marking an 8.38% decrease from the previous year's $176.16M.
January 04, 2024 | 11:49 am
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Lindsay Corporation reported higher-than-expected Q1 EPS but missed on sales, with both earnings and sales down YOY.
While beating EPS estimates typically has a positive impact on stock prices, the miss on sales and the year-over-year decline in both earnings and sales could temper investor enthusiasm. The mixed results present a neutral outlook, as the earnings beat may offset concerns about the sales miss and YOY declines.
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IMPORTANCE 75
RELEVANCE 100