Exhibit 99.1

18135 BURKE ST. OMAHA, NE 68022 TEL: 402-829-6800 FAX: 402-829-6836

For further information, contact:

LINDSAY CORPORATION:	THREE PART ADVISORS:
Brian Ketcham	Hala Elsherbini
Senior Vice President & Chief Financial Officer	972-458-8000
402-827-6579

Lindsay Corporation Reports Fiscal 2021 Fourth Quarter and Full Year Results

• Improved demand for irrigation equipment continued in the fourth quarter across all geographies

• Fourth quarter irrigation revenues increase 63 percent to $125.3 million

• Fourth quarter infrastructure revenues decline 45 percent compared to record results in prior year

• Fourth quarter net earnings reduced by after-tax LIFO impact of $4.5 million, or $0.41 per diluted share

OMAHA, Neb., October 21, 2021—Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its fourth quarter and fiscal year, which ended on August 31, 2021.

Fourth Quarter and Full Year Summary

Revenues for the fourth quarter of fiscal 2021 were $153.6 million, an increase of $25.2 million, or 20 percent, compared to revenues of $128.4 million in the prior year fourth quarter. Net earnings for the quarter were $5.8 million, or $0.53 per diluted share, compared with net earnings of $14.7 million, or $1.35 per diluted share, for the prior year fourth quarter. Net earnings for the quarter were reduced by an after-tax LIFO impact of approximately $4.5 million, or $0.41 per diluted share.

Revenues for the year ended August 31, 2021, were $567.6 million, an increase of $93.0 million, or 20 percent, compared to revenues of $474.7 million in the prior year. Net earnings for the year were $42.6 million, or $3.88 per diluted share, compared with net earnings of $38.6 million, or $3.56 per diluted share, in the prior year.

“Fiscal 2021 was an extraordinary year in which our team demonstrated agility and resiliency in the face of the ongoing global pandemic,” said Randy Wood, President and Chief Executive Officer. “We were able to capitalize on market tailwinds in irrigation while navigating persistent headwinds created by pandemic-related project delays in our infrastructure business, significant raw material inflation, logistics challenges, and a tight labor market. We also remained highly focused on innovation, maintaining strong organizational health and safety, and increasing our commitment to sustainability initiatives.”

Fourth Quarter Segment Results

Irrigation segment revenues for the fourth quarter of fiscal 2021 were $125.3 million, an increase of $48.2 million, or 63 percent, compared to $77.0 million in the prior year fourth quarter. North America irrigation revenues of $53.5 million increased $12.3 million, or 30 percent, compared to the prior year fourth quarter. The increase in North America irrigation revenues resulted from a combination of higher irrigation equipment unit sales volume and higher average selling prices. International irrigation revenues of $71.7 million increased $35.9 million, or 100 percent, compared to the prior year fourth quarter. The increase in international irrigation revenues resulted primarily from higher unit sales volumes, along with higher selling prices and a favorable foreign currency translation impact of $2.8 million. The largest sales volume increases were in the Brazil and Middle East markets.

Irrigation segment operating income for the fourth quarter of fiscal 2021 was $10.6 million, an increase of $4.6 million, or 78 percent, compared to the prior year fourth quarter. Operating margin was 8.4 percent of sales, compared to 7.8 percent of sales in the prior year fourth quarter. The impact of higher irrigation system unit volume was partially offset by the impact of higher raw material and other costs. Fourth quarter operating results were also reduced by approximately $5.0 million resulting from the impact of the LIFO method of accounting for inventory, under which higher raw material costs are recognized in cost of goods sold rather than in ending inventory values.

Infrastructure segment revenues for the fourth quarter of fiscal 2021 were $28.4 million, a decrease of $23.0 million, or 45 percent, compared to $51.4 million in the prior year fourth quarter. The decrease resulted primarily from lower Road Zipper System^® sales compared to the prior year. Road Zipper System^® sales in the fourth quarter of fiscal 2020 included a large project in the United Kingdom that did not repeat in fiscal 2021. In addition, during fiscal 2021 the timing of certain projects has been impacted by coronavirus-related delays.

Infrastructure segment operating income for the fourth quarter of fiscal 2021 was $5.8 million, a decrease of $14.1 million, or 71 percent, compared to the prior year fourth quarter. Operating margin was 20.5 percent of sales, compared to 38.8 percent of sales in the prior year fourth quarter. Current year results reflect lower revenues and a less favorable margin mix of revenues compared to the prior year fourth quarter and were also reduced by approximately $1.0 million resulting from the impact of the LIFO method of accounting for inventory.

The backlog of unfilled orders at August 31, 2021 was $149.1 million compared with $58.7 million at August 31, 2020. A higher backlog of orders in irrigation was partially offset by a lower backlog in infrastructure.

Outlook

“Although agricultural commodity prices have come down from their peak earlier in the year, they remain at multi-year highs,” said Mr. Wood. “This supports a solid outlook for North America irrigation equipment demand for the fall selling season. We expect growth in international irrigation to be led by continued momentum in Brazil and other markets and from new agricultural development being driven by increased concerns regarding food security.”

Mr. Wood continued, “In our infrastructure business, we expect a slower start to fiscal 2022 due to specific project delays. However, prospects for year-over-year growth are supported by the quality of our project sales funnel.”

Fourth Quarter Conference Call

Lindsay’s fiscal 2021 fourth quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (833) 535-2202 in the U.S., or (412) 902-6745 internationally, and requesting the Lindsay Corporation call. Additionally, the conference call will be simulcast live on the Internet and can be accessed via the investor relations section of the Company’s Web site, www.lindsay.com. Replays of the conference call will remain on our Web site through the next quarterly earnings release. The Company will have a slide presentation available to augment management’s formal presentation, which will also be accessible via the Company’s Web site.

About the Company

Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic^® center pivot and lateral move agricultural irrigation systems, FieldNET^® remote irrigation management and scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems^®, Road Zipper^® and Snoline^™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.

Concerning Forward-looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” “expect,” “outlook,” “could,” “may,” “should,” “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

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LINDSAY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)

	Three Months Ended August 31,						Years Ended August 31,
(in thousands, except per share amounts)	2021			2020			2021			2020
Operating revenues	$	153,648		$	128,405		$	567,646		$	474,692
Cost of operating revenues		120,081			83,038			417,441			322,149
Gross profit		33,567			45,367			150,205			152,543
Operating expenses:
Selling expense		8,136			9,343			30,816			31,444
General and administrative expense		12,153			14,921			51,923			52,947
Engineering and research expense		3,855			3,647			13,359			13,950
Total operating expenses		24,144			27,911			96,098			98,341
Operating income		9,423			17,456			54,107			54,202
Other (expense) income:
Interest expense		(1,167	)		(1,185	)		(4,751	)		(4,759	)
Interest income		285			544			1,083			1,956
Other (expense) income, net		(752	)		1,641			(53	)		(2,556	)
Total other (expense) income		(1,634	)		1,000			(3,721	)		(5,359	)
Earnings before income taxes		7,789			18,456			50,386			48,843
Income tax expense		1,985			3,782			7,814			10,214
Net earnings	$	5,804		$	14,674		$	42,572		$	38,629
Earnings per share:
Basic	$	0.53		$	1.35		$	3.91		$	3.57
Diluted	$	0.53		$	1.35		$	3.88		$	3.56
Shares used in computing earnings per share:
Basic		10,907			10,835			10,886			10,823
Diluted		11,039			10,880			10,985			10,861
Cash dividends declared per share	$	0.33		$	0.32		$	1.30		$	1.26

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LINDSAY CORPORATION AND SUBSIDIARIES

SUMMARY OPERATING RESULTS

(Unaudited)

	Three months ended						Twelve months ended
(in thousands)	August 31, 2021			August 31, 2020			August 31, 2021			August 31, 2020
Operating revenues:
Irrigation:
North America	$	53,539		$	41,201		$	273,871		$	224,771
International		71,715			35,824			197,487			124,575
Irrigation total		125,254			77,025			471,358			349,346
Infrastructure		28,394			51,380			96,288			125,346
Total operating revenues	$	153,648		$	128,405		$	567,646		$	474,692
Operating income:
Irrigation	$	10,578		$	5,979		$	63,181		$	41,263
Infrastructure		5,810			19,934			20,174			42,722
Corporate		(6,965	)		(8,457	)		(29,248	)		(29,783	)
Total operating income	$	9,423		$	17,456		$	54,107		$	54,202

The Company manages its business activities in two reportable segments as follows:

Irrigation—This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial IoT solutions.

Infrastructure – This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment.

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LINDSAY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(in thousands)	August 31, 2021			August 31, 2020
ASSETS
Current assets:
Cash and cash equivalents	$	127,107		$	121,403
Marketable securities		19,604			19,511
Receivables, net of allowance of $3,422 and $2,780, respectively		93,609			84,604
Inventories, net		145,244			104,792
Other current assets		30,539			17,625
Total current assets		416,103			347,935
Property, plant, and equipment, net		91,997			79,581
Intangible assets, net		20,367			23,477
Goodwill		67,968			68,004
Operating lease right-of-use assets		18,281			27,457
Deferred income tax assets		8,113			9,935
Other noncurrent assets		14,356			14,137
Total assets	$	637,185		$	570,526
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	45,209		$	29,554
Current portion of long-term debt		217			195
Other current liabilities		92,814			72,646
Total current liabilities		138,240			102,395
Pension benefits liabilities		5,754			6,374
Long-term debt		115,514			115,682
Operating lease liabilities		18,301			25,862
Deferred income tax liabilities		832			889
Other noncurrent liabilities		20,099			20,806
Total liabilities		298,740			272,008
Shareholders’ equity:
Preferred stock		—			—
Common stock		18,991			18,918
Capital in excess of stated value		86,495			77,686
Retained earnings		528,130			499,724
Less treasury stock—at cost		(277,238	)		(277,238	)
Accumulated other comprehensive loss, net		(17,933	)		(20,572	)
Total shareholders’ equity		338,445			298,518
Total liabilities and shareholders’ equity	$	637,185		$	570,526

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LINDSAY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Years Ended August 31,
(in thousands)	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	42,572		$	38,629
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		19,177			19,396
(Gain) on sale of business		(1,087	)		—
Provision for uncollectible accounts receivable		771			589
Deferred income taxes		1,911			1,384
Share-based compensation expense		6,186			5,616
Foreign currency transaction (gain) loss		(1,934	)		1,102
Other, net		259			288
Changes in assets and liabilities:
Receivables		(11,535	)		(9,523	)
Inventories		(38,158	)		(14,039	)
Other current assets		(8,132	)		(6,612	)
Accounts payable		17,993			(691	)
Other current liabilities		18,433			16,673
Other noncurrent assets and liabilities		(2,488	)		(6,778	)
Net cash provided by operating activities		43,968			46,034
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment		(26,511	)		(21,445	)
Proceeds from sale of assets held-for-sale		—			3,955
Purchases of marketable securities available-for-sale		(19,356	)		(28,041	)
Proceeds from maturities of marketable securities available-for-sale		18,825			8,548
Acquisition of business, net of cash acquired		—			(3,034	)
Other investing activities, net		(577	)		1,503
Net cash used in investing activities		(27,619	)		(38,514	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options		3,965			1,545
Common stock withheld for payroll tax obligations		(1,269	)		(1,111	)
Principal payments on long-term debt		(195	)		(227	)
Dividends paid		(14,166	)		(13,645	)
Net cash used in financing activities		(11,665	)		(13,438	)
Effect of exchange rate changes on cash and cash equivalents		1,020			117
Net change in cash and cash equivalents		5,704			(5,801	)
Cash and cash equivalents, beginning of period		121,403			127,204
Cash and cash equivalents, end of period	$	127,107		$	121,403

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