Lindsay Corp. (LNN) Misses Q2 Views

Lindsay Corp. (NYSE: LNN) reported Q2 adjusted EPS of $0.42, $0.14 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $120.6 million versus the consensus estimate of $123.84 million.

Cash and cash equivalents of $89.5 million were $77.7 million lower compared to the prior year second quarter. The Company repurchased 332,949 shares for $23.0 million during the second quarter and a total of 469,212 shares for $32.2 million during the first six months of fiscal 2016. $79.8 million remains available under the Company’s share repurchase program.

Backlog of unshipped orders at February 29, 2016 was $52.6 million compared with $74.3 million at February 28, 2015 and $61.9 million at November 30, 2015.

For earnings history and earnings-related data on Lindsay Corp. (LNN) click here.

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