v3.25.4
Business Segments
 3 Months Ended
Nov. 30, 2025
Segment Reporting [Abstract]  
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 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.

 

The Company had no single customer who represented 10 percent or more of its total revenues during the three months ended November 30, 2025 or 2024.

 

 

 

Three months ended November 30, 2025

 

($ in thousands)

 

Irrigation

 

 

Infrastructure

 

 

Consolidated

 

Operating revenues

 

$

 

133,437

 

(1)

$

 

22,381

 

 

$

 

155,818

 

Cost of operating revenues

 

 

 

92,813

 

 

 

 

12,903

 

 

 

 

105,716

 

Gross profit

 

 

 

40,624

 

 

 

 

9,478

 

 

 

 

50,102

 

Operating expenses

 

 

 

17,670

 

 

 

 

4,984

 

 

 

 

22,654

 

Segment operating income

 

$

 

22,954

 

 

$

 

4,494

 

 

$

 

27,448

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

7,843

 

Operating income

 

 

 

 

 

 

 

 

 

$

 

19,605

 

(1) includes North America revenues of $74,312 and international revenues of $59,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended November 30, 2024

 

($ in thousands)

 

Irrigation

 

 

Infrastructure

 

 

Consolidated

 

Operating revenues

 

$

 

147,087

 

(1)

$

 

19,194

 

 

$

 

166,281

 

Cost of operating revenues

 

 

 

105,195

 

 

 

 

11,120

 

 

 

 

116,315

 

Gross profit

 

 

 

41,892

 

 

 

 

8,074

 

 

 

 

49,966

 

Operating expenses

 

 

 

17,156

 

 

 

 

3,950

 

 

 

 

21,106

 

Segment operating income

 

$

 

24,736

 

 

$

 

4,124

 

 

$

 

28,860

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

7,977

 

Operating income

 

 

 

 

 

 

 

 

 

$

 

20,883

 

(1) includes North America revenues of $77,669 and international revenues of $69,418