Lindsay Corp (LNN)

Shares of Lindsay Corporation (LNN) dropped by 5.69% from $122.58 to $115.61 in the trading on Friday, October 20, 2023. The reason why LNN stock down is due to its fourth-quarter results.

• Earnings Decrease: Lindsay Corporation reported a profit of $5.80 million, or $0.53 per share, for the fourth quarter. This marked a decrease compared to the previous year's fourth quarter when the company had earned $14.67 million, or $1.35 per share.
• Missed Analyst Estimates: The company's earnings of $0.53 per share fell short of analysts' expectations, which had anticipated earnings of $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
• Revenue Increase: Despite the earnings decline, Lindsay Corporation's revenue for the quarter rose by 19.7% to reach $153.65 million, up from $128.41 million in the previous year's fourth quarter. In summary, Lindsay Corporation's stock decline on October 20, 2023, was primarily attributed to its fourth-quarter results, which showed a decrease in earnings and missed analyst estimates, despite an increase in revenue compared to the previous year.