| Business Segments |
Note 13 – Business Segments The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM utilizes operating income to guide resource allocation across reportable segments as part of the Company’s strategic and annual planning efforts, and to assess segment performance by comparing planned results to actual outcomes. The CODM manages the Company's business activities in two reportable segments: Irrigation and Infrastructure. Irrigation – This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems and large diameter steel tubing, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, and industrial IoT solutions. The irrigation reporting segment consists of one operating segment. 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. The infrastructure reporting segment consists of one operating segment.
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Three months ended May 31, 2026 |
($ in thousands) |
|
Irrigation |
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Infrastructure |
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Consolidated |
Operating revenues |
|
$ |
133,033 |
(1) |
$ |
27,731 |
|
$ |
160,764 |
Cost of operating revenues |
|
|
95,238 |
|
|
17,694 |
|
|
112,932 |
Gross profit |
|
|
37,795 |
|
|
10,037 |
|
|
47,832 |
Operating expenses |
|
|
17,459 |
|
|
4,636 |
|
|
22,095 |
Segment operating income |
|
$ |
20,336 |
|
$ |
5,401 |
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$ |
25,737 |
Unallocated corporate expenses |
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|
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|
|
7,224 |
Operating income |
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|
|
|
|
|
|
$ |
18,513 |
(1) includes North America revenues of $61,349 and international revenues of $71,684 |
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Three months ended May 31, 2025 |
($ in thousands) |
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Irrigation |
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Infrastructure |
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Consolidated |
Operating revenues |
|
$ |
143,745 |
(1) |
$ |
25,719 |
|
$ |
169,464 |
Cost of operating revenues |
|
|
100,331 |
|
|
15,511 |
|
|
115,842 |
Gross profit |
|
|
43,414 |
|
|
10,208 |
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|
53,622 |
Operating expenses |
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|
16,260 |
|
|
4,782 |
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|
21,042 |
Segment operating income |
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$ |
27,154 |
|
$ |
5,426 |
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$ |
32,580 |
Unallocated corporate expenses |
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|
|
|
|
|
|
|
8,787 |
Operating income |
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|
|
|
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|
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$ |
23,793 |
(1) includes North America revenues of $69,082 and international revenues of $74,663 |
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Nine months ended May 31, 2026 |
($ in thousands) |
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Irrigation |
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Infrastructure |
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Consolidated |
Operating revenues |
|
$ |
407,707 |
(1) |
$ |
66,590 |
|
$ |
474,297 |
Cost of operating revenues |
|
|
292,642 |
|
|
41,372 |
|
|
334,014 |
Gross profit |
|
|
115,065 |
|
|
25,218 |
|
|
140,283 |
Operating expenses |
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|
52,297 |
|
|
14,157 |
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|
66,454 |
Segment operating income |
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$ |
62,768 |
|
$ |
11,061 |
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$ |
73,829 |
Unallocated corporate expenses |
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|
|
|
|
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|
|
22,697 |
Operating income |
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|
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|
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$ |
51,132 |
(1) includes North America revenues of $206,704 and international revenues of $201,003 |
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Nine months ended May 31, 2025 |
($ in thousands) |
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Irrigation |
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Infrastructure |
|
Consolidated |
Operating revenues |
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$ |
438,971 |
(1) |
$ |
83,838 |
|
$ |
522,809 |
Cost of operating revenues |
|
|
309,332 |
|
|
47,402 |
|
|
356,734 |
Gross profit |
|
|
129,639 |
|
|
36,436 |
|
|
166,075 |
Operating expenses |
|
|
50,373 |
|
|
13,630 |
|
|
64,003 |
Segment operating income |
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$ |
79,266 |
|
$ |
22,806 |
|
$ |
102,072 |
Unallocated corporate expenses |
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|
|
|
|
|
|
|
25,273 |
Operating income |
|
|
|
|
|
|
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$ |
76,799 |
(1) includes North America revenues of $223,793 and international revenues of $215,178 |
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