Business Segments

9 Months Ended

May 31, 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 nine months ended May 31, 2025 or 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 movable 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						Nine months ended
($ in thousands)	May 31, 2025			May 31, 2024			May 31, 2025			May 31, 2024
Operating revenues:
Irrigation:
North America	$	69,082		$	68,235		$	223,793		$	240,457
International		74,663			46,605			215,178			147,569
Irrigation total		143,745			114,840			438,971			388,026
Infrastructure		25,719			24,359			83,838			64,050
Total operating revenues	$	169,464		$	139,199		$	522,809		$	452,076
Operating income:
Irrigation	$	27,154		$	19,524		$	79,266		$	70,480
Infrastructure		5,426			6,276			22,806			13,401
Corporate		(8,787	)		(5,864	)		(25,273	)		(20,773	)
Total operating income		23,793			19,936			76,799			63,108
Interest and other expense, net		1,921			237			4,162			757
Earnings before income taxes	$	25,714		$	20,173		$	80,961		$	63,865