Lindsay Corporation announced that its board of directors authorized a new share‑repurchase program of up to $150 million on November 3, 2025, with the announcement made on November 5, 2025. The program is effective today and allows the company to buy back its common stock in the open market or through other mechanisms, such as Rule 10b5‑1 trading plans.
Lindsay’s capital‑return strategy has been consistent for years. The new program follows the completion of a $250 million buyback that the company finished earlier this year. The authorization underscores the firm’s confidence in its valuation and its commitment to returning value to shareholders while preserving the financial flexibility needed for future growth.
The company’s business is split between irrigation and infrastructure. International irrigation sales have been strong, especially in MENA, South America, and Australia, offsetting weaker performance in North America where softer commodity prices and reduced storm‑replacement activity have dampened demand. The infrastructure segment remains poised to benefit from government initiatives such as the Infrastructure Investment and Jobs Act.
Senior Vice President and Chief Financial Officer Brian Ketcham said, “This authorization provides us with the flexibility to return capital to shareholders while maintaining the financial strength to continue investing in growth opportunities and innovation.” The statement highlights the dual purpose of the buyback: rewarding shareholders and sustaining investment momentum.
The program’s flexibility means Lindsay can execute purchases in the open market or through pre‑arranged trading plans, allowing the company to manage timing and volume in line with market conditions and liquidity needs. This approach preserves cash for ongoing investment and growth initiatives.
Lindsay’s balance sheet is robust, with cash exceeding debt and a long history of dividend payments—30 consecutive years of dividends and 23 years of consecutive increases. The company also faces a 1 % excise tax on share repurchases that exceed issuances under the Inflation Reduction Act, but the program’s size is well within the company’s capacity to manage that cost.
The announcement was met with a positive market reaction, reflecting investor confidence in Lindsay’s disciplined capital allocation strategy and its strong financial footing. The buyback is seen as an attractive opportunity to acquire shares at a price near the company’s 52‑week low, potentially supporting long‑term shareholder value.
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