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Business Segments
 6 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Business Segments

Note 14 – Business Segments

 

The Company manages its business activities in two reportable segments: irrigation and infrastructure. The Company evaluates the performance of its reportable segments based on segment revenues and operating income, with operating income for segment purposes excluding unallocated corporate general and administrative expenses, interest income, interest expense, other income and expenses and income taxes. Operating income for segment purposes includes general and administrative expenses, selling expenses, engineering and research expenses and other overhead charges directly attributable to the segment. There are no inter-segment sales included in the amounts disclosed. The Company had no single customer who represented 10 percent or more of its total revenues during the three or six months ended February 28, 2025 or February 29, 2024.

 

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, irrigation consulting and design and industrial internet of things, or “IIoT”, 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.

 

 

Three months ended

 

 

Six months ended

 

($ in thousands)

 

February 28,
2025

 

 

February 29,
2024

 

 

February 28,
2025

 

 

February 29,
2024

 

Operating revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation:

 

 

 

 

 

 

 

 

 

 

 

 

   North America

 

$

77,145

 

 

$

82,845

 

 

$

154,884

 

 

$

172,222

 

   International

 

 

70,994

 

 

 

50,173

 

 

 

140,342

 

 

 

100,964

 

Irrigation total

 

 

148,139

 

 

 

133,018

 

 

 

295,226

 

 

 

273,186

 

Infrastructure

 

 

38,925

 

 

 

18,501

 

 

 

58,119

 

 

 

39,691

 

Total operating revenues

 

$

187,064

 

 

$

151,519

 

 

$

353,345

 

 

$

312,877

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation

 

$

27,377

 

 

$

25,649

 

 

$

52,111

 

 

$

50,956

 

Infrastructure

 

 

13,257

 

 

 

3,506

 

 

 

17,381

 

 

 

7,125

 

Corporate

 

 

(8,510

)

 

 

(7,057

)

 

 

(16,486

)

 

 

(14,909

)

Total operating income

 

 

32,124

 

 

 

22,098

 

 

 

53,006

 

 

 

43,172

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other expense, net

 

 

1,090

 

 

 

599

 

 

 

2,241

 

 

 

520

 

Earnings before income taxes

 

$

33,214

 

 

$

22,697

 

 

$

55,247

 

 

$

43,692