LNN FY 2023 Earnings Report — Lindsay Corporation Revenue & Financial Results | Market Cap Arena

Lindsay CorporationLNN

FY 2023 Earnings

Reported October 19, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$674M	—	$771M	—	-12.5%
Op. Income	$102M	—	$95M	—	8.0%
Gross Margin	31.6%	—	25.8%	—	5.8pp
Net Margin	10.7%	—	8.5%	—	2.2pp
EPS (Diluted)	$6.54	—	$5.94	—	10.1%
Free Cash Flow	$101M	—	-$13M	—	904.4%

Revenue Flow

Item	Amount
REVENUE	$674M
Cost of Revenue	$461M
GROSS PROFIT	$213M
R&D Expenses	$18M
Selling & Marketing	$36M
General & Administrative	$56M
SG&A Expenses	$93M
Other Expenses	$0
Operating Expenses	$111M
Cost & Expenses	$572M
OPERATING INCOME	$102M
Interest Income	$3M
Interest Expense	$4M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$100M
Income Tax Expense	$28M
Net Income from Continuing Ops	$72M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$72M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$72M
D&A	$19M
EBIT	$104M
EBITDA	$123M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$674M
Cost of Revenue	$461M
GROSS PROFIT	$213M
R&D Expenses	$18M
Selling & Marketing	$36M
General & Administrative	$56M
SG&A Expenses	$93M
Other Expenses	$0
Operating Expenses	$111M
Cost & Expenses	$572M
OPERATING INCOME	$102M
Interest Income	$3M
Interest Expense	$4M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$100M
Income Tax Expense	$28M
Net Income from Continuing Ops	$72M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$72M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$72M
D&A	$19M
EBIT	$104M
EBITDA	$123M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$72M
Depreciation & Amortization	$19M
Stock-Based Compensation	$7M
Deferred Income Tax	$0
Other Non-Cash Items	$4M
Change in Working Capital	$18M
OPERATING CASH FLOW	$120M
Capital Expenditure	-$19M
Acquisitions (Net)	-$31M
Purchases of Investments	-$5M
Sales/Maturities of Investments	$11M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$47M
Net Debt Issuance	-$222.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$15M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$17M
FREE CASH FLOW	$101M
Net Change in Cash	$56M

Balance Sheet

Item	Amount
Cash & Equivalents	$161M
Short-Term Investments	$6M
Net Receivables	$145M
Inventory	$156M
Other Current Assets	$20M
TOTAL CURRENT ASSETS	$487M
PP&E (Net)	$117M
Goodwill	$83M
Intangible Assets	$28M
Long-Term Investments	$0
Tax Assets	$11M
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$258M
TOTAL ASSETS	$746M
Account Payables	$44M
Short-Term Debt	$226.0K
Deferred Revenue	$22M
Other Current Liabilities	$57M
TOTAL CURRENT LIABILITIES	$136M
Long-Term Debt	$115M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$689.0K
Other Non-Current Liabilities	$20M
TOTAL NON-CURRENT LIABILITIES	$154M
TOTAL LIABILITIES	$290M
Common Stock	$19M
Additional Paid-In Capital	$99M
Retained Earnings	$636M
Treasury Stock	-$277M
Accum. Other Comp. Income	-$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$456M
Minority Interest	$0
TOTAL EQUITY	$456M
TOTAL LIABILITIES & EQUITY	$746M
Total Debt	$136M
Net Debt	-$25M