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OMAHA - Lindsay Corporation (NYSE:LNN), a manufacturer of irrigation and infrastructure equipment with a market capitalization of $1.5 billion and year-to-date stock performance of 16.43%, announced Wednesday that Senior Vice President and Chief Financial Officer Brian Ketcham plans to retire effective December 31, 2025. According to InvestingPro data, the company maintains strong financial health with robust cash flows and solid balance sheet metrics.
Ketcham, who joined the company in April 2016, will continue as a consultant through December 31, 2026, to ensure a smooth transition. The company has begun searching for his replacement with assistance from an executive recruiting firm.
During his tenure, Ketcham has overseen Lindsay’s financial strategy and helped build relationships with shareholders and the investment community, according to the company’s press release.
"It has been a tremendous experience to serve as CFO of Lindsay," Ketcham said in the statement. "I’m deeply grateful for the talented colleagues I’ve had the honor of working alongside and proud of all we’ve accomplished together."
Randy Wood, President and Chief Executive Officer of Lindsay, credited Ketcham with strengthening the company’s global capabilities and building a "world-class finance team."
Lindsay Corporation, established in 1955, manufactures and distributes irrigation systems and transportation safety equipment. The company’s irrigation brands include Zimmatic agricultural irrigation systems and FieldNET remote irrigation management technology, while its transportation solutions include Barrier Systems and Road Zipper brands.
In other recent news, Lindsay Corporation reported impressive financial results for the third quarter of fiscal year 2025, exceeding analyst expectations. The company achieved an earnings per share of $1.78, surpassing the forecast of $1.41, and reported revenue of $169.5 million, beating the anticipated $157.87 million. This performance was partly driven by Lindsay’s successful execution of a large irrigation project in the Middle East and North Africa, as noted by Stifel, which maintained its Hold rating and $136 price target for the company. Additionally, Lindsay announced a 3 percent increase in its quarterly cash dividend to $0.37 per share, raising the annual dividend rate from $1.44 to $1.48 per share. William Blair reiterated its Market Perform rating for Lindsay, citing a lack of significant catalysts in the near term for the irrigation industry. The firm expressed concerns about potential earnings contraction due to an uncertain market outlook. These developments reflect Lindsay’s ongoing efforts to enhance shareholder value while navigating industry challenges.
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