LNN - Why Manufacturing Company Lindsay Shares Are Gaining Today | Benzinga
Lindsay Corporation (NYSE:LNN) shares are trading higher on Thursday after reporting strength in infrastructure unit in third-quarter results.
The company reported quarterly earnings per share of $1.85, beating the street view of $1.17.
Third-quarter revenues totaled $139.20 million (down 15% year over year), missing the analyst consensus of $144.36 million, as market conditions in the irrigation segment continue to weigh on farmer sentiment, resulting in demand softness.
However, the company gained strength in the infrastructure business, supported by new project sales and momentum ...