Lindsay Corporation appoints GE HealthCare CIO to board of directors

OMAHA - Lindsay Corporation (NYSE:LNN), a manufacturer of irrigation and infrastructure equipment with a market capitalization of $1.52 billion, announced Monday the appointment of Jahidul H. Khandaker to its Board of Directors. According to InvestingPro data, the company maintains strong financial health with a current ratio of 3.64, indicating robust liquidity management.

Khandaker, 54, currently serves as Chief Information Officer for GE HealthCare. Prior to joining GE HealthCare in 2022, he was Senior Vice President and Chief Information Officer at Western Digital from 2020 to 2022, and Vice President of IT Applications at the same company from 2015 to 2020.

His career includes leadership roles at Hitachi Global Storage Technologies and IBM. Khandaker also served in the United States Marine Corps as a Non-Commissioned Officer-in-Charge and Accounting Analyst.

Khandaker holds master’s and bachelor’s degrees from Hawaii Pacific University and has completed executive education programs at Wharton, IBM, and SAP Academy.

"Jahid brings extensive experience leading technology transformation and operational excellence at world-class companies," said Lindsay’s Chairman Robert Brunner in the press release statement.

Randy Wood, Lindsay’s President and Chief Executive Officer, noted that Khandaker’s "expertise in technology, operations, and global markets aligns with our strategic priorities."

With over 25 years of experience in enterprise technology, Khandaker has led digital transformations across various industries, specializing in enterprise IT, cloud transformation, cybersecurity, and artificial intelligence implementation.

Lindsay Corporation, established in 1955, manufactures and distributes irrigation and infrastructure equipment globally, including agricultural irrigation systems and transportation safety equipment. The company has demonstrated consistent shareholder returns, with InvestingPro data showing 22 consecutive years of dividend increases and maintaining dividend payments for 30 consecutive years. With a healthy EBITDA of $110.94 million in the last twelve months and revenue growth of 9.46%, Lindsay continues to show strong operational performance. InvestingPro analysis suggests the stock is currently trading slightly below its Fair Value, presenting a potential opportunity for investors. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering this and 1,400+ other top US stocks.

In other recent news, Lindsay Corporation reported outstanding financial results for the third quarter of fiscal year 2025, surpassing analyst expectations. The company achieved an earnings per share of $1.78, significantly higher than the anticipated $1.41, and reported revenue of $169.5 million, exceeding the forecasted $157.87 million. Stifel maintained its Hold rating and $136 price target for Lindsay, noting the company’s successful execution on a large irrigation project in the Middle East and North Africa. In addition, Lindsay announced a 3 percent increase in its quarterly cash dividend, raising the annual rate from $1.44 to $1.48 per share. William Blair reiterated its Market Perform rating, citing a lack of significant catalysts in the near term for the irrigation industry. Meanwhile, the company announced that CFO Brian Ketcham will retire at the end of 2025 but will continue as a consultant through 2026 to facilitate a smooth transition. These developments reflect Lindsay’s ongoing efforts to strengthen its financial position and strategic direction.

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