LINDSAY CORPORATION 4th Quarter Fiscal 2021 Earnings Slide Deck
Safe-Harbor Statement
This presentation 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, financial results and planned financing. 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.
Investors should understand that a number of factors (including but not limited to the lingering effects of the COVID-19 pandemic and related public health measures on plant operations, workforce availability, supply chain availability, and product demand) could cause future economic and industry conditions and the Company's actual financial condition and results of operations to differ materially from management's beliefs expressed in the forward- looking statements contained in this presentation. These factors include those outlined in the "Risk Factors" section of the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commission, and investors are urged to review these factors when considering the forward-looking statements contained in this presentation.
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.
For full financial statement information, please see the Company's earnings release dated October 21, 2021.
2
Fourth Quarter Summary
Amounts in millions, except per share amounts
Revenue | Operating Income | Diluted EPS | |||
$153.6 | $17.5 | $1.35 | |||
$128.4 | +20% | ||||
13.6% | $9.4 | ||||
$0.53 | |||||
-46% | |||||
6.1% | -61% | ||||
FY20 | FY21 | FY20 | FY21 | FY20 | FY21 |
- Revenues increased $25.2 million compared to prior year
- Irrigation increased $48.2 million
- Infrastructure decreased $23.0 million
- Operating income decreased $8.0 million compared to prior year results
- Irrigation increased $4.6 million
- Infrastructure decreased $14.1 million
- Operating income reduced by LIFO impact of approximately $6.0 million
- Net earnings reduced by after-tax LIFO impact of $4.5 million, or $0.41 per diluted share
3
Fiscal 2021 Summary
Amounts in millions, except per share amounts
Revenue | Operating Income | Diluted EPS | |||
$567.6 | $54.2 | $54.1 | $3.88 | ||
$474.7 | +20% | $3.56 | +9% | ||
11.4% | 9.5% | ||||
FY20 | FY21 | FY20 | FY21 | FY20 | FY21 |
- Revenues increased $93.0 million compared to prior year
- Irrigation increased $122.0 million
- Infrastructure decreased $29.0 million
- Operating income was comparable to prior year results
- Irrigation increased $21.9 million
- Infrastructure decreased $22.5 million
- Corporate expense decreased $0.5 million, primarily due to lower travel-related expenses
4
Fourth Quarter and YTD Financial Summary
($ in millions, except per share amounts) | Q4 - FY21 | Q4 - FY20 | Change | ||
Revenue | |||||
North America irrigation | $ | 53.5 | $ | 41.2 | 30% |
International irrigation | $ | 71.7 | $ | 35.8 | 100% |
Irrigation | $ | 125.3 | $ | 77.0 | 63% |
Infrastructure | $ | 28.4 | $ | 51.4 | -45% |
Total revenue | $ | 153.6 | $ | 128.4 | 20% |
Operating income | $ | 9.4 | $ | 17.5 | -46% |
Operating Margin | 6.1% | 13.6% | -750 bps | ||
Net earnings | $ | 5.8 | $ | 14.7 | -60% |
Diluted earnings per share (EPS) | $ | 0.53 | $ | 1.35 | -61% |
Backlog | $ | 149.1 | $ | 58.7 | 154% |
FY21 | FY20 | Change | |||
$ | 273.9 | $ | 224.8 | 22% | |
$ | 197.5 | $ | 124.6 | 59% | |
$ | 471.4 | $ | 349.4 | 35% | |
$ | 96.3 | $ | 125.3 | -23% | |
$ | 567.6 | $ | 474.7 | 20% | |
$ | 54.1 | $ | 54.2 | 0% | |
9.5% | 11.4% | -190 bps | |||
$ | 42.6 | $ | 38.6 | 10% | |
$ | 3.88 | $ | 3.56 | 9% | |
$ | 149.1 | $ | 58.7 | 154% | |
Certain immaterial reclassifications have been made to the prior year operating results to conform with the current year presentation, as revenue and operating | 5 |
income from certain product lines included within the infrastructure reporting segment in the prior year are now included within the irrigation reporting segment. | |
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Lindsay Corporation published this content on 21 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2021 11:03:07 UTC.
