Agricultural and farm machinery company Lindsay (NYSE:LNN) will be reporting results this Thursday before the bell. Here’s what to expect.
Lindsay missed analysts’ revenue expectations last quarter, reporting revenues of $160.8 million, down 5.1% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is Lindsay a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Lindsay’s revenue to decline 1.9% year on year, in line with its flat revenue from the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Lindsay has missed Wall Street’s revenue estimates multiple times over the last two years.
With Lindsay being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for heavy machinery stocks. However, the whole sector has been hit hard over the last month as stocks in Lindsay’s peer group are down 5.1% on average. Lindsay is down 7.1% during the same time .
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