• Lindsay Corporation has reported first-quarter 2026 results, with sales of US$155.82 million and net income of US$16.52 million, both slightly lower than the same period a year earlier.
• This mild year-over-year drop in revenue and earnings, following expectations for steady performance, raises fresh questions about how durable Lindsay’s growth drivers really are.
• We’ll now examine how this softer-than-expected quarter, particularly the slight earnings decline, affects Lindsay’s pre‑existing investment narrative.

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Lindsay Investment Narrative Recap

To own Lindsay, you need to believe in steady demand for irrigation and road safety solutions tied to water scarcity and infrastructure needs. This quarter’s small revenue and earnings decline looks more like a pause than a reset, and does not materially change the near term focus on executing Road Zipper projects or the key risk around softer irrigation demand, particularly in markets where financing conditions and farm economics already look fragile.

The latest first quarter 2026 report, with sales of US$155.82 million and net income of US$16.52 million, matters most when set against earlier results that showed year on year progress and a growing infrastructure contribution. That contrast puts extra attention on how quickly Lindsay can convert its infrastructure project pipeline into revenue while managing exposure to weak North American irrigation conditions and potential tariff related cost pressures.

But while the project pipeline looks encouraging, investors should also be aware that the timing of large Road Zipper contracts can...

Lindsay's narrative projects $751.5 million revenue and $86.5 million earnings by 2028. This requires 3.5% yearly revenue growth and about a $10.5 million earnings increase from $76.0 million today.

Uncover how Lindsay's forecasts yield a $131.00 fair value, a 11% upside to its current price.

Exploring Other Perspectives

Two Simply Wall St Community fair value estimates cluster between US$131 and about US$163 per share, showing how far apart individual views can be. Set against the current questions around irrigation demand and large project timing, it is worth comparing these community views with several different takes on Lindsay’s prospects.

Explore 2 other fair value estimates on Lindsay - why the stock might be worth as much as 38% more than the current price!

Build Your Own Lindsay Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Lindsay research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Lindsay research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Lindsay's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.