Slide 1: 3rd Quarter Fiscal 2022 Earnings Slide Deck
3rd Quarter Fiscal 2022 Earnings Slide Deck Exhibit 99.2
Slide 2: Safe-Harbor Statement
Safe-Harbor Statement This presentation contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance, financial results and planned financing. Y
Slide 3: Third Quarter Summary
Third Quarter Summary Revenues increased $52.3 million compared to prior year Irrigation increased $48.5 million Infrastructure increased $3.8 million Operating income increased $13.8 million compared to prior year Irrigation increased $15.6 million Infrastructure was $3.8 million and comparable to
Slide 4: Third Quarter and YTD Financial Summary
Third Quarter and YTD Financial Summary
Slide 5: Current Market Factors
Current Market Factors May 2022 U.S. corn prices have increased 18 percent and soybean prices have increased 11 percent from a year ago. The sustained increases are due to constrained supply levels globally, coupled with higher demand. The continued conflict between Russia and Ukraine continues to p
Slide 6: Irrigation Segment
Irrigation Segment North America revenue increased $8.8 million Increase primarily from higher average selling prices Unit sales volume was lower compared to the prior year Unit sales volume breakdown by category: Replacement 48%, Conversion 25%, Dryland 27% International revenue increased $39.7 mil
Slide 7: Infrastructure Segment
Infrastructure Segment Total revenue increased $3.8 million Higher sales of road safety products Increase in Road Zipper System® sales revenue Began delivery on a Road Zipper project in Australia Lower Road Zipper lease revenue due to timing of projects Operating income was comparable to prior year
Slide 8: Innovation Leadership: Addressing Global Megatrends
Innovation Leadership: Addressing Global Megatrends Capitalizing on global megatrends Key Trends Food Security Water Scarcity Land Availability Mobility Safety Reducing Emissions Labor Savings
Slide 9: Strong Commitment to Sustainable Practices
Strong Commitment to Sustainable Practices Our mission is to provide solutions that conserve natural resources, enhance the quality of life for people, and expand our world’s potential. Investing in sustainable technologies Improving our operational footprint Empowering and protecting our people Eng
Slide 10: Summary Balance Sheet and Liquidity
Summary Balance Sheet and Liquidity As of May 31, 2022: Available liquidity of $145.7 million, with $95.7 million in cash, cash equivalents and marketable securities and $50.0 million available under revolving credit facility Total debt of $116.0 million, of which $115.0 million matures in 2030 A fu
Slide 11: Summary of Cash Flow
Summary of Cash Flow YTD FY22 Net earnings Depreciation / amortization Other non-cash adjustments Changes in assets and liabilities: Receivables Inventories Other Net cash (used in) provided by operations Capital expenditures Dividends paid $47.5 $14.9 $5.2 ($63.4) ($49.2) $20.1 ($24.9) ($12.2) ($10
Slide 12: Capital Allocation – A Balanced Approach
Capital Allocation – A Balanced Approach Allocation History Other includes debt repayments, net cash sources/uses from note receivables, net investment hedges, stock compensation and related tax benefits. Ending cash includes marketable securities. Targeted cash balance of $60-75 million, including
Slide 13: Appendix
ZALINDSAY" Appendix
Slide 14: U.S. Net Farm Income and Net Cash Farm Income
U.S. Net Farm Income and Net Cash Farm Income Inflation adjusted, 2001-22F 2001-20 average NCFI Note: F = forecast. Values are adjusted for inflation using the U.S. Bureau of Economic Analysis Gross Domestic Product Price Index (BEA API series code: A191RG) rebased to 2022 by USDA, Economic Research
Slide 15: Commodity Prices
Commodity Prices Soybean Prices Source: Trading Economics Corn Prices
Slide 16: United States Drought Condition
United States Drought Condition Source: US Drought Monitor, June 2022