Lindsay Corporation announced a new $80 million irrigation contract in the Middle East and North Africa (MENA) region, under which the company will supply Zimmatic irrigation systems and FieldNET remote‑management technology to a major customer. The deal is expected to generate approximately $70 million of revenue in fiscal 2026, with the remaining $10 million recognized in fiscal 2025 as the contract is signed and initial equipment is delivered.
The $80 million contract represents roughly 12 % of Lindsay’s 2025 revenue of $676.4 million and is the largest single project the company has secured in the MENA region to date. While the specific countries involved have not been disclosed, the project underscores Lindsay’s focus on high‑growth emerging markets and its strategy to expand the footprint of its connected‑technology platform.
The international irrigation segment already surpassed North America in 2025, with $294.2 million versus $273.8 million in the U.S. This new project adds a significant recurring‑revenue stream to a segment that is already outperforming domestic sales, reinforcing the company’s geographic diversification and the shift toward higher‑margin, technology‑enabled solutions.
The announcement follows Lindsay’s October 23, 2025 earnings miss, in which the company reported an EPS of $0.99 versus the consensus estimate of $1.04 and revenue of $153.6 million versus the $156.9 million forecast. The miss was driven by a 19 % decline in North American irrigation sales and higher operating costs, while the international segment grew strongly. Management highlighted the MENA contract as evidence of continued momentum in high‑growth markets and a counterbalance to the North American slowdown.
Lindsay’s CEO Randy Wood said the company is “proud to bring advanced irrigation technology to new markets in the MENA region, where demand for mechanized and connected solutions is accelerating.” The project aligns with the company’s broader strategy to grow recurring revenue through FieldNET and to deepen its presence in regions that offer higher growth potential than the U.S. market.
Analysts noted that the new contract may temper concerns raised by the Q4 earnings miss, but the company’s guidance for the remainder of fiscal 2025 remains unchanged. The deal demonstrates Lindsay’s ability to secure large, high‑margin projects in emerging markets, supporting its long‑term growth trajectory.
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