Lindsay Corporation

Westinghouse Air Brake Technologies, known as Wabtec, will announce its second-quarter results Wednesday morning. The market expects revenue to grow 13.7% year on year, an improvement from the 2.3% increase in the same quarter last year. Analysts have generally reconfirmed their estimates over the last 30 days, though Wabtec has missed Wall Street's revenue estimates multiple times over the past two years. In the heavy machinery segment, peer Greenbrier reported a 31.6% revenue decline, missing expectations by 5.9%, while Lindsay's revenue fell 5.1%, also missing by 5.1%. Wabtec's stock is down 6.8% over the last month, heading into earnings with an average analyst price target of $302.83 compared to the current share price of $257.98.

Lindsay Corp reported third-quarter fiscal 2026 total revenue of $160.8 million, a 5% decrease from $169.5 million in the prior year. Operating income fell to $18.5 million from $23.8 million, with operating margin declining to 11.5% from 14%. Net earnings were $15.8 million, or $1.53 per diluted share, compared to $19.5 million, or $1.78 per diluted share, a year ago. The Irrigation segment saw a 7% revenue decline to $133 million, driven by an 11% drop in North America to $61.3 million and a 4% decrease internationally to $71.7 million, partly due to high interest rates and limited credit access in Brazil. In contrast, the Infrastructure segment grew 8% to $27.7 million, marking three consecutive quarters of growth. The company maintained a strong liquidity position of $204.8 million, including $154.8 million in cash and equivalents, and repurchased $25.2 million in shares during the quarter.

Lindsay reported second-quarter CY2026 revenue of $160.8 million, a 5.1% decline year on year and below analyst estimates of $169.5 million. GAAP earnings per share came in at $1.53, beating the consensus estimate of $1.21 by 26.7%. Operating margin fell to 11.5% from 14% a year earlier, and free cash flow turned negative at minus $1.39 million compared with positive $25.66 million in the prior-year quarter. CEO Randy Wood noted that deliveries for a large irrigation project in the Middle East North Africa region remain on schedule despite geopolitical challenges.

Agricultural and farm machinery company Lindsay will report its second-quarter earnings this Thursday before the market opens. The market expects Lindsay's revenue to be flat year on year, a slowdown from the 21.7% increase recorded in the same quarter last year. Last quarter, the company reported revenues of $157.7 million, down 15.7% year on year, missing analysts' expectations on revenue, adjusted operating income, and EPS. Analysts have generally reconfirmed their estimates over the last 30 days, indicating they expect the business to remain on course. Lindsay's stock has risen 12.4% over the last month, outperforming the average 6.1% gain in the heavy machinery segment.

The heavy machinery industry's first-quarter earnings season saw mixed results among the 21 companies tracked, with aggregate revenues beating analyst estimates by 1.2% while next-quarter guidance was in line. Terex reported revenues of $1.73 billion, a 41.1% year-on-year increase that exceeded expectations by 2.6%, though it missed on EPS and full-year EBITDA guidance. Douglas Dynamics was the best performer, with revenues of $137.8 million up 19.8% year-on-year and beating estimates by 3.4%, alongside the highest full-year guidance raise among peers. Lindsay was the weakest, with revenues of $157.7 million down 15.7% year-on-year and missing estimates by 4.2%, along with significant misses on adjusted operating income and EPS. Other notable results included PACCAR's revenues of $6.78 billion, down 8.9% and slightly below estimates, and Titan International's revenues of $505.1 million, up 2.9% and beating estimates, though it had the weakest guidance update.

Caterpillar reported first-quarter revenues of $17.42 billion, a 22.2% increase from a year earlier and 7.4% above analyst expectations. The heavy machinery maker also delivered an impressive beat on adjusted operating income and earnings per share, with Chairman and CEO Joe Creed citing resilient end markets and disciplined execution. Among the 21 heavy machinery stocks tracked, aggregate revenues surpassed consensus estimates by 1.2%, while next-quarter guidance was in line. Douglas Dynamics posted the strongest results of the group, raising its full-year guidance, while Lindsay recorded the weakest quarter with a 15.7% revenue decline. Caterpillar shares have risen 21.6% since the report to $985.40.