Lindsay Corporation (NYSE:LNN) stock rose 0.21% (As on Apr 6, 12:15:30 AM UTC-4, Source: Google Finance) after the company posted higher-than-expected results in the fiscal second quarter but the production of the irrigation and infrastructure equipment manufacturer was still pressured by omicron-driven absences in the first two months of the quarter. Lindsay’s irrigation revenue rose 52% to $180.7 million, driven by strong agricultural markets and higher selling prices. Infrastructure revenue, however, fell 23% to $19.4 million due to lower sales of Road Zipper System, a movable road barrier, partially offset by higher sales of road safety products. Lindsay expects inflation pressures and supply chain issues to persist in the near term. The company’s backlog of unfilled orders at the end of the quarter increased to $111 million from $101.4 million a year ago. In March, Lindsay suspended business in Russia and its ally Belarus and the company will no longer accept new machine orders for delivery to these markets due to the invasion of Ukraine. The company is also currently unable to supply goods to Ukraine and the combined revenue for both Russia and Ukraine has historically represented less than 5% of the total revenue. Net earnings for the quarter were $14.6 million compared with net earnings of $11.9 million, for the prior year second quarter.

LNN in the second quarter of FY 22 has reported the adjusted earnings per share of $1.32, beating the analysts’ estimates for the adjusted earnings per share of $1.20. The company had reported the adjusted revenue growth of 39 percent to $200.1 million in the second quarter of FY 22, beating the analysts’ estimates for revenue of $187.1 million.

Moreover, North America irrigation revenues of $100.7 million increased $20.6 million, or 26 percent, compared to the prior year second quarter. The increase in North America irrigation revenues resulted primarily from higher average selling prices. Unit sales volume was lower year-over-year due to the impact of Omicron-related employee absences on production and shipping capabilities. International irrigation revenues of $80.0 million increased $41.6 million, or 108 percent, compared to the prior year second quarter. The increase in international irrigation revenues resulted primarily from higher unit sales volumes, along with higher selling prices. Revenues in Brazil more than tripled compared to the prior year second quarter, and the company also completed final deliveries of a large project in Egypt.