Slide 1: 4th Quarter Fiscal 2022 Earnings Slide Deck
4th 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: Fourth Quarter Summary
Fourth Quarter Summary Revenues increased $36.5 million compared to prior year Irrigation increased $25.2 million Infrastructure increased $11.3 million Operating income increased $18.3 million compared to prior year Irrigation increased $13.6 million Infrastructure increased $5.7 million Corporate
Slide 4: Fiscal 2022 Summary
Fiscal 2022 Summary Revenues increased $203.1 million compared to prior year Irrigation increased $194.5 million Infrastructure increased $8.6 million Operating income increased $40.5 million compared to prior year Irrigation increased $42.5 million Infrastructure decreased $1.8 million Corporate ex
Slide 5: Fourth Quarter and YTD Financial Summary
Fourth Quarter and YTD Financial Summary
Slide 6: Current Market Factors
Current Market Factors August 2022 U.S. corn prices have increased 26 percent and soybean prices have increased 16 percent from a year ago. Agricultural commodity prices remained elevated due to lower yield expectations in the U.S. for the 2022 crop season and supply disruptions resulting from the R
Slide 7: Irrigation Segment – Fourth Quarter Summary
Irrigation Segment – Fourth Quarter Summary North America revenue increased $26.5 million Increase primarily from higher unit sales volume and higher average selling prices Higher unit sales volumes resulted primarily from increased storm damage replacement demand Unit sales volume breakdown by cate
Slide 8: Infrastructure Segment – Fourth Quarter Summary
Infrastructure Segment – Fourth Quarter Summary Total revenue increased $11.3 million Increase in Road Zipper System® sales revenue from barrier replacement project in Massachusetts $16.0 million delivered in the quarter Expect deliveries to continue in Q1 of fiscal 2023 Lower Road Zipper lease reve
Slide 9: 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 10: 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 11: Summary Balance Sheet and Liquidity
Summary Balance Sheet and Liquidity As of August 31, 2022: Available liquidity of $166.5 million, with $116.5 million in cash, cash equivalents and marketable securities and $50.0 million available under revolving credit facility Total debt of $115.6 million, of which $115.7 million matures in 2030
Slide 12: Summary of Cash Flow
Summary of Cash Flow FY21 capital expenditures include $8.5 million to exercise a purchase option for the land and buildings related to the Company’s manufacturing operation in Turkey
Slide 13: Capital Allocation – A Balanced Approach
Capital Allocation – A Balanced Approach The Company’s prioritization for cash use: Working capital to support organic growth New product development Capital expenditures - expected to be $20-25 million in fiscal 2023 Acquisitions that align with strategic priorities Dividend payments Opportunistic
Slide 14: Appendix
ZALINDSAY" Appendix
Slide 15: 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 16: Commodity Prices
Commodity Prices Soybean Prices Source: Trading Economics Corn Prices
Slide 17: United States Drought Condition
United States Drought Condition Source: US Drought Monitor, October 2022