Lindsay Company (LNN) Q2 2024 Earnings Name Transcript

Lindsay Company (NYSE:LNN) Q2 2024 Earnings Convention Name April 4, 2024 11:00 AM ET

Firm Individuals

Randy Wooden – President and Chief Govt Officer
Brian Ketcham – Chief Monetary Officer

Convention Name Individuals

Ryan Connors – Northcoast Analysis
Tyler Hutin – William Blair
Jon Braatz – Kansas Metropolis Capital
Brett Kearney – American Rebirth Alternative Companions
Adam Farley – Stifel Nicolaus


Good day, and welcome to the Lindsay Company Fiscal Second Quarter 2024 Earnings Convention Name. All members will likely be in listen-only mode. [Operator Instructions] After as we speak’s presentation, there will likely be a possibility to ask questions. [Operator Instructions] As a reminder, this convention is being recorded.

I’d now like handy the decision to Randy Wooden, President and CEO. Please go forward.

Randy Wooden

Thanks, and good morning, everybody. Welcome to our fiscal 2024 second quarter earnings name. With me as we speak is Brian Ketcham, our Chief Monetary Officer. I’m happy with the consolidated efficiency and resilience of our enterprise by the first-half of this fiscal yr. Whereas market situations in South America have briefly impacted exercise throughout the agriculture trade, the efficiency of our North American irrigation enterprise continues to be supported by regular demand amid tempered grower sentiment. Moreover, in our Infrastructure enterprise, the continued combine shift in direction of leasing for our main Street Zipper System is delivering significant margin enlargement.

Total, I’m inspired by our capability to execute operationally and strategically as a way to drive profitability throughout the group, in addition to the actions we have taken to navigate suboptimal market situations in some areas. In North America, our Irrigation enterprise noticed comparable complete items demand versus the second quarter of final yr, which was largely in keeping with expectations, and supported by the carryover influence of bought farm earnings from final yr. Whereas steady demand in North American finish markets has supported