1. Lindsay Corporation secures $80 million supply deal in MENA region. 2. The contract enhances localized food production and water use efficiency. 3. $70 million in revenue anticipated in fiscal 2026 from this agreement. 4. FieldNET technology positions Lindsay as a leader in sustainable agriculture. 5. The project reflects Lindsay's commitment to global agricultural demands.
FAQ
Why Bullish?
The $80 million contract positively positions LNN for revenue growth, similar to past agreements that boosted stock performance significantly.
How important is it?
The supply agreement directly affects LNN’s financial outlook, enhancing investor sentiment and future growth potential.
Why Long Term?
Revenue recognition over years indicates sustained positive impact, akin to LNN's previous long-term contracts like those in Asia that enhanced market share.
Lindsay Corporation (NYSE:LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced that it has entered into a supply agreement to provide Zimmatic™ irrigation systems and FieldNET™ remote management and scheduling technology in the Middle East and North Africa (MENA) region. The project, valued at approximately $80 million in revenue, supports localized food production in the region.
"I'm proud of our team's track record of success in delivering transformative projects across the MENA region. This new opportunity underscores Lindsay's role as a trusted partner in advancing sustainable agriculture while supporting localized production and enhancing food security. We look forward to continuing this important work in the region," said Randy Wood, President and Chief Executive Officer of Lindsay Corporation. "FieldNET is a strategic differentiator in large projects, helping farm managers conserve water, optimize resources, and enhance productivity—empowering them to meet global demand while protecting our planet's most precious resources."
Delivery is expected to begin immediately and continue throughout fiscal 2026 with approximately $70 million of the total contract revenue anticipated to be recognized in the fiscal year.
About Lindsay Corporation
Lindsay Corporation (NYSE:LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world's roads, bridges and tunnels, through the Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.
Concerning Forward-looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words "anticipate," "estimate," "believe," "intend," "expect," "outlook," "could," "may," "should," "will," or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251211280481/en/
For further information, contact:
LINDSAY CORPORATION:
Alicia Pfeifer
Vice President Investor Relations & Treasury
402-933-6429
Alicia.Pfeifer@lindsay.com
Investor Relations Contact:
Joe Caminiti or Stephen Poe
312-445-2870
LNN@alpha-ir.com