LNN - Earnings call transcript Q2 2018

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning. My name is Chad, and I will be your conference operator today. At this time, I would like to welcome everyone to the Lindsay Corporation Second Quarter 2018 Earnings Call. [Operator Instructions]. Please note, this event is being recorded.

conditions, may uncertainties, statements beliefs, which future circumstances, management to are estimates call, financial economic and and risks reflect industry this make that forward-looking subject of results. During performance company management's current

expressions. for Forward-looking claim expectation, future forward-looking of Litigation statements should outlook, Chief Harbor those preceded could, operations assumed or the by Mr. similar contained and results in XXXX. protection would sir. Securities Safe by, of President company may, to Executive to include followed statements concerning the Private go Through the ahead, call including Reform I and or we the Please Tim information statements Hassinger, the these over of Act Officer. possible turn statements, now of like the the or words;

Timothy Hassinger

morning, Brian Zarkowski, Good call Chief today's our thank and joining Lori Officer; for and me Officer. our call. on With you Ketcham, Accounting Financial Chief is

call results. know, is you As our Quarter the discuss to of objective this X

we overview Before quarter's provided months overview, I Lindsay. few a observations call, earnings our make an comments. at I'll In my my introductory first past initial during two into of jump that

intent related time our the want be occurred, to on be focused to have those initiatives passed, into actions. will over to an overview what you move and achieve, on continue these next update several progress currently I more observations My what initiatives that that to Now underway. on quarters. has you want to update started has to we we'll the of

across primary creates the for the need that change challenge address let's First, company. the

better put factors, new align my can is is impacted this results meaningful and the business our that the in change employees positions but an And The a during leadership we The view farm market have a lower because external that, leadership reality. competitive better to of team has to to environment. internally in this to Earlier quarter, four improvement past is position. announced It's senior that been eliminated. ensure now crop Lindsay The in and to you been in underway plan leadership of the those this their not all in prices As contributed irrigation four a these the will position compete their appreciated. company and Lindsay can't left income. commodity know, self-help roles deliver company Lindsay backfilled. by individuals unfavorably those be positions we and years, are roles contributions have needed lot

entire a partnering Lindsay simplification changes, Many identify have achieved. a of review these the They are projects to be diagnostic to underway. addition we company. with hired are can cost reductions initiate areas In consulting these the and where well-known company of to team

have an what I you, are from results to of the achieve efforts. these communicate don't expecting So can overview from actions although to to provide I these we

operating expectation We which are in target any achieve marketplace. our targeting order year XXXX need reduce To that will have of best similar Currently, in In for company. of diagnostic address environment. It mentioned to target our need global internal we to I focus of areas to XXXX, self-help will that in of be identified level margin XXXX need to was key call an an allow processes. will leads results to without areas that review operating through XX% years improvement improvement, this Returning will and the XXXX to and us we processes. of self-help to to to result automate X.X%. us results in the more my deliver similar the to with achieve standardize XXXX compares income, work and improved we and an have the our work we address projects the the XX%, X improvement of Quarter XXXX on. our fiscal performance work range completed several efficient our This place our market is key and efforts. this

focused ensure it have exist, optimum we business our Additional the manufacturing designing launched capacity on the aligned SG&A across where to recent results excess footprint and are address the ensure is activities spend margin back-office units. further projects integrate we to our various

to by For moving can sourcing, leverage more global-centered further be a gained these approach. activities

better address aligned Another market needed example this we're taking new culture company's effort the highlight is the in reality. Lindsay to to the changes to that

completed a desired are the has the to behaviors are strategy. capabilities identified strengths ensure how positive. adjust and in from been aligned we that to do and to to have the our organization Programs company-wide now the We company's place Receptivity work. culture need underway assessment be entire

lot will outlined. have we of a a across to for the business call we I've to to all growth. on the We right company our approach your now, address foundation conduct going aligned build is to to productivity open that, desired We simplify to self-help improve Later, questions aligned way our this and want the related the and the outcome.

move to results. for the that, Brian. to And turn our So now let's I'll QX call over

Brian Ketcham

quarterly morning, Tim, like begin, had results. I would good you, that items everyone. to significant on a couple of impact To our Thank cover and a reported

$X.XX tax item Jobs U.S. million reform expense relates the or recognized rate. earnings repatriation includes of and the impact $X.X diluted tax Tax quarter. from This at certain as the U.S. tax Cuts quarter. remeasurement during We deemed Act items impacts first to the foreign tax the of transition on lower per deferred estimated the or tax from of implementing the onetime share during The and reform U.S. of federal the enactment

performance in opening costs that his our improvement incurred initiative to referred connection in item relates Foundation Tim to second for with The comments. Growth

severance incurred and in costs Second million, to $X.XX initiative. quarter amounted or diluted share. $X.X impact $X.X after-tax connection results The of fees of pretax include costs comprised of with consulting professional per million this costs these

modestly for second for were release. were operating quarter the expected each In results, made in San near international over approximately Bridge product during were the expected coming the end quarter to the million, be million diluted from in quarter quarter of an did year. irrigation the of growth current the quarter $X.XX initiative Net quarter expenditures driven year. higher year. second Total segment in America backlog segment Infrastructure lines to follow-on this of orders sales during was to growth $XXX.X order increased Infrastructure to compared XX% and million over payments. margin The of to approximately for $XX.X of increased the to a million were compared irrigation quarter income the the XX.X% valued for lower No Road the Revenues as in my over second million same filtration to of North for North prior including earnings comments a added compared delivered begin Irrigation for income by revenue prior fiscal comparison increase Last million, compared end market, omit million road end at to or result period, of prior $X.XX quarter to sales over order of quarter revenues per of press fiscal second second the from of initiative $X developing $X.X order of are system Also Increased sales Road volume North quarter and of deploy year. partially of at year. other which quarters orders to were In increase last irrigation of XXXX will XX.X% capital Zipper margin the per existing the revenues the connection support XX.X% revenues fourth million quarters quarter in the increase an value sales delivery in and $XX.X quarter increase X.X% are well Rafael year. in while regarding time in prior quarter system the the the Regulation Zipper quarter in the was with markets by products. million compared same working X% markets, end an fund the diluted of the These Total as second XX% same operating quarter quarter detailed million, remainder Additional backlog in increased the was received systems U.S. on same was disclosure $XXX.X core from larger dividend second and year. The XXXX. systems regions. year XX%, remain and X% quarter quarter second compared a an share that the the The of quarter revenue. the improved $XXX.X year. markets utilized first the revenues Road is year's quarter. in included of and $XX Zipper for safety the volume cash compared and impacts America, fiscal with were during operating last segment to capital proportion irrigation of repurchases the prior from XXXX. repeat as the to same the the was additional of next backlog offset for refer stable. a year. mix operating irrigation for decreased the segment pump increased quarter Japan. of in the last to million, the recovered this of of higher customer costs XX% are margin of last international number were Infrastructure expected revenue equivalents the $XX.X $X not third irrigation over XXXX. Cash the fiscal the fiscal improved Cash at an as $XXX.X in increases G projects prior sales share through revenues is several year. couple the sales anticipated result an or includes of in The America Richmond-San the X% foundation in tax share a the adjusted in in last at at of the operating year to the a prior the second leverage in from demand income reform sales be quarter revenues Francisco.

take the irrigation, and including total Deere online recent farm couple to irrigation other efficient precision entitled hosted improved in $XX.X the of events a Details the industry event, I'd Investor it The discussion us event on of today. to Olathe, demonstrations technology our organic position be At with experts technology call reduce also and Also Matters to you our precision and time, newsroom. questions. continues for Matters smart like connection under and returns growers Relations shareholders. at recommendation Center, to other repurchase to FieldNET as of found panel our manufacturing and The plays them as available can to growth driving role our growers initiatives irrigation a tool these tool. Water and both initiatives, sheet data turn over an data pursue some our drive both with a cutting-edge emerging improve at increased with share items well new Advisor to to Operations operator our and million balance the of practices. of we the facility access the [Operator would to and providing share hands-on like Water authorization. We strength On of agriculture acquisitions data irrigation Instructions]. in helping John that's and a announced between X, this entry However, It remains of your Elecsys productivity. educational event Kansas. March in we farming design FieldNET focused featured through Advisor,

first Mike will Global. Shlisky from with come question The Seaport

Michael Shlisky

targets. So long-term asking to I first your want off about start by margin

might to get trying are get stock? profit, improvement that in and from you you no go better if a So kind Just saying of up future for the -- your from a what assuming a here, into to say hope feel market? it to to somewhat how to here in as in you're XX%, have that's put you operating XX% And value there trough my market get that you market? model for to planning what

Timothy Hassinger

Tim. is -- let is This you Mike. said playback. just Yes, me What

we what is are level, believe and We actions XXXX, XX%. at which to XXXX that detail targeting into and go saying that self-help more are on. at XX% we here we you'd focused We if our like, through are achieve can we'll of

here environment sitting that, saying related beyond we to go to market have, we the going today, help are organization we if Now that. need we are would that some

what exactly here. that's we're So outlining

Michael Shlisky

cycles market, of future sense was CapEx, it's in a that of kind than the interest -- way there somewhere going Okay. from. up right given let's of margins saying say I better of in might in are that, guess, at troughs the asking have given just will It form leverage? where your forward. that Are in stage the And a you be be somewhat the now, XX% it should market, I'm get these you product. come been in get some volume down road, form can that you lower in it

Timothy Hassinger

market to from improvement. Yes, expect we would benefit

in the to that be expect to to that in is that come would this we also. to what again, this described growth market would And focused So we're XX%. would benefit which have the and from say then position all and get expect be as realize environment, XX% trough, we would

Michael Shlisky

Okay.

just Okay. that to wanted both? supposed this I detail to think segment the is overcome is other? the on plan is you can Are bit a both more one ask Or versus company equally? -- also about, this to the it segments challenges focused similar more little impact

Timothy Hassinger

through businesses. it's lot both going global obviously. questions there's this. a And we across the not be leverage There's go sites think both have opportunities footprint, I'm for to No, Manufacturing focusing businesses, company. reach. do a because -- between here but those more across more it's detail a of addressing to on we That's the happy across I sourcing. We're have little on only companies,

offices it does gaining businesses. across Commercial both also is across and So would businesses both be that. impact global back be G&A efficiency improved will process our in more

So look. it is full a company

Michael Shlisky

Great. guess, like X I management a to it guys Deere of second team. Deere? deal It switch to wanted John for, other well John long Deere's? exclusive pursuing That's have would cab. big other pretty I've great the [Indiscernible] you and in tractors' that been discuss say, been a about gears I time. you? asking company to systems for just because want is the screen Center. color. for seems and I'm John connect access finally, their That's something I just And important Lindsay asking farmers with years as previous Operations most a one kind or the also have that was how can you've you Is as to

Timothy Hassinger

Yes.

total Mike, happy Deere that Today, this address like I'd that the of this. launching your because So improvements countries, about the by past this two we're to And part to Advisor deal Advisor XX talk we broaden where question in the year, John expect we'll crops important on in was only year, be end to we I is think and of FieldNET and the in forward. bringing it U.S. FieldNET is compared this it's

if the to really Deere. the FieldNET -- Water expand app So out improved bigger outing other that news expect be that mobile right with excited that Advisor nine In allows FieldNET John you rolled Brian that. was this with of the was was Advisor XX. things came operations are by the they That simplified this to say to definitely that to But Matters available. John to we It there's the about of this we reach the be year, agreement connected We're Deere the for there And Deere it center. the improves mentioned, actually precision. were now, take that end out. crops a one? directly FieldNET an But is, able expanding and agreement. John the able data it No, now our in is that says to way we with connect market. it what in not time, and way simple as a only farmers. exclusive to approach They them FieldNET Advisor. Are had see saves At

Michael Shlisky

to the price aluminum, and And a -- at if About it. customers one and Or how just pricing more Lindsay action? I'm current you a ongoing last squeeze looking permanent metals? I as of your an but can surcharge is steel you me have a ask could putting facing sense dealers? would one And I'll asked, the Okay. for in to more various is environment pricing your give are somebody here. sure it of

Timothy Hassinger

Yes.

look Mike, will So we at steel.

as fair the we're all, to situation to point material plays want here. First of it's same say this reading out. all I a key make

crop closely. monitoring Our are primary concern this is exports, we could have but that against U.S. trade commodity situation retaliation there we that be

As cost in D.C.-based to you getting focused price we're surcharge recently to prior increases periods. for on continue are escalation we this pass announced offset done view a just this with the and our on And in example, imagine, address just developments. advisory that's we occurred. close to our latest cost their contact as can But firms, we've suppliers help Washington to escalation steel

Operator

from comes Ryan Scattergood. and question next The Connors Boenning with

Ryan Connors

international to forecast on its the any outlook ask actually, And can you to isn't good. just that the based out us pretty looks think great. big how little kind wanted there? lumpiness tough It here. on really I about just obviously, on to there? know But help help and out us about, per visibility a and of don't pretty front, irrigation a we bit international the you you It's a figure give that guidance how side, comparison but business given think se always modeling the tough I like about the backlog, been business. the is outlook see decline

Timothy Hassinger

on be a happy color to, you Yes, and that. I'll give little let me

of place in has year-to-date versus year. what good describe all, would half have do pipeline of we year. pressure a for pricing the prior projects We the First increased second of as

way slightly markets, large are year-over-year. say, seen in decline it, the to core look If a best shift traditional I'll But they projects, we've at this to the up describe business. due business, our for year-over-year you and irrigation the

So seeing hopefully, how right gives you international that now. the of better perspective a little we're

Ryan Connors

then your trade It international Have you your handicapping business? any comments forth? of more mentioned crop so things related what that? about to exporting And the I What any like flows to and markets impact commodities you done does. took and and happens like of certain And to fears. And potential there that. work

Timothy Hassinger

of prepared demand. Well, there shifting to side some in be could need be and that we definitely to address production shift

if shift you of we tried want we what-ifs, through et cetera. resources, So have to and say, all done want to to would where the think

have but a any like we that, a direction it plan to to be say a got to you in I with only occur. respond yes, fluid done significant through feel on right and we quite if it's So that, that situation were And have now. shift give thought can't we say, -- able confidence to place

Ryan Connors

Understood. last -- more is guess, strategic somewhat And nature. Fair my enough. I one in

kind your, talked You've call aspects about the and restructuring cost-related on here a of optimization initiatives. of, lot internal the

One is us -- fit, those returns of can the independent. the past And looking on you strategic based reviewing still that kind capital which in update you've of on at the effort? things some relatively different of on talked and the about many of businesses, are side

Timothy Hassinger

levels, clearly each And Yes, side, need the we're other standpoint to our I are we at determine not your mean, they it's undergoing. from to of what that to full connection It to be Ryan, a actions our you core contributing. to had mentioned portfolio effort businesses as trying looking are in review, part on and taken. strategic profitability ones businesses foundation if a of a which and the is the report. those fit are

We're full now. well a is into it review. portfolio that So right

Ryan Connors

to you kind would hand, an portfolio Okay. -- of, think you from be some there better do tip of that that, businesses? more issue I But Or be your you don't ultimately? moves integrating anticipate of, it's stemming those want it obviously. mean, would would

Timothy Hassinger

to -- you I what Yes. too can on on answer Ryan, early it's forward looking giving I'm you that. the say. is, best give next we've update quarter I learned the an

literally evaluation. in We middle right are of analysis the the and

Operator

from will be Company. Joe with question Mondillo next & Sidoti The

Joseph Mondillo

quarters -- first of I share? caused like on irrigation lose may you maybe side. something half of happen it of the a and underperformed did like sort you ago seems of last business. to saw year in retaking Was sort touch in 'XX, a because you just be It some the wanted domestic side now you're two the very domestic seems the here on growth peers to strong share the year ago,

going wondering, you just comment if could at what's there business? on the So domestic

Timothy Hassinger

take with advantage Yes, Joe, frame. last the here perspective here where that year, business during of can since of some give wasn't time I give I'll I'll the fact and that I'm seeing you he today me Brian's you and

increased we prior revenue our As the -- year. our versus America quarter, see business XX% we this North

driven several Our region in increased year-to-date prices. do look that share has by rate the market. at this areas higher we've believe uncertainty increased buying, market of faster there leadership one, given steel We across here, would believe this we we where technology has Lindsay it's in would is describe position. We around has market the a And factors a share region. we what say a been as some benefited from the early been

believe the three those year. So factors growth to prior versus that that the XX% contributed are we

to that prior it you year. me the context Let little of over and how compares he can to a Brian give turn

Brian Ketcham

year impacted about from prior the the second One weather part Joe. talked unfavorably in business we in had domestic the conditions last that quarter, U.S. year harsh thing of the was Northwest in Yes, the was

a So a improvement little having more bit into of year-over-year far plays that as a as comparison. little bit favorable the of

Joseph Mondillo

Okay.

sort be talking seem nothing single for in that term strategy region. near the there's Do your related your the do So And little digits year because growth to from your share what your about to then domestic of different peers compared sort peers outlook? differing last peers? low a between of to seem you also, the pricing, the over

Timothy Hassinger

to around is and dynamics risk dynamic steel, farmers et give delay cetera. say that a couple outlook. I due to tariffs can But what of be purchases is, aware we that one, don't will the Well, there is of

risk that not expectation a our We will second say half we're as it first is did year. that is of the the closely. that fast grow half the monitoring in would that as So

Joseph Mondillo

of Okay. about on update ask projects Alex in I you project, the I terms you was just could couple wondering you an side. that wanted the on just Fraser a if timing. have to provide infrastructure of also

said to it's quarter, like that going same primarily seemingly quarter of quarter. could sounded sort Is the that be you expectation? previously, third fourth lead and the into think I first

Timothy Hassinger

Yes. the first be fourth quarter. The timing year. changed said on two Rafael we then year. the hasn't this and will Fraser what And from second be larger The Alex orders, new had last San quarter will Japan Bridge quarter order, third that into quarter next

Joseph Mondillo

Okay. And on side. also sticking the infrastructure

maintained of pretty How Road last been and Zipper. these margin you about we're and based Is recurring been at do in rate Is that this Zipper sustainable? the on be any forward? of margin do quarter, the leasing? Should the projects, the this that of -- mix quarter it's has think Excluding Road terms the how mix? Or going solid terms that about seeing? that in you large think mix

Timothy Hassinger

Yes.

and quarter. obviously, saw in think, has mix Zipper the we a margin that I impact our on this positive Road

business -- So to the real X or Zipper see got average. say quarters, I the improved on the margins with extent that some next would we would we've that Road X over solid

Joseph Mondillo

sort trying sort to is to it based saw, on tends the is think recurring? that of about that of based I'm quarter that Or be just -- sort be of so lumpy. is more project we just should project past leasing, it based? of because This sort

term, So I'm projects? to just about long trying excluding maybe think lumpy it

Timothy Hassinger

Yes.

of from Our going quarter seasonality road a standpoint, second there's not construction a on. -- lot

the tends season. So the leasing construction to road follow

in was quarter. oriented the project So second this more

Joseph Mondillo

acquisitions. wondering fall lastly, your strategy? allocation talk Where of of you then, one Okay. could if slides, on uses know within and sort the just about ranking of that I -- was cash. comment And does on I capital you

been you all it optimization You this got in And hands plan. acquisitions. like seemingly at your haven't active business now very tied with sounds

terms and Just on long-term acquisitions? of in strategy can wondering, near-term if comment sort cash or of you

Timothy Hassinger

lot this within earnings make we looking the Joe, comments since what Tim. what in me where call has let where spaces is XXX-day we is say, want. on actively made would We're described this of working plan. Yes. We few that. was those still last been And a I a know And progress were now. as the one

Our can core expand leverage if we key and/or focus is our businesses.

cost looking strategy So to our opportunities attractive that to add payback. find synergy we're in essence, have bolt-on an innovation and/or

So those broad that now. right looking areas we're two the at are

Operator

comes next Dicke Blair. question The with from Kyle William

Kyle Dicke

This is Kyle Dicke on for Brian Drab.

into was growth a of specific I any of having digging But bit potential in are Just fruit different the more. highlight you the would outlined that the offered little low-hanging that discussed ones the near kind as plan lot a there you initiatives. know greatest or term? a

Timothy Hassinger

of in details are overall, avoiding you each really the say of an that one. trying Well, in we on it are one that outlined. right assumptions exact give those in each we will if say, we've we're and on I scope validate in to are difficult it's going because into an buckets finding, middle I can good in to estimate place. And the value

buckets really potential would that we've creation. value have answer the question. to your is, that I all outlined here, But difficult only So encouraged say

focused So towards in are deploying staying of them. people we one each

Kyle Dicke

get of you gradual of flow view it this after as is there steady target or you in Okay. that through? kind out a function costs as a or X.X And more the XXXX improvement of progress then, into so. step towards years Is some

Timothy Hassinger

Well, through. these projects come will

As imagine, got of variables you range wide them. to a they've can

different exact as see step-up going of we at is amount stages. towards quarter. this XXXX. goal our just linear. of improvement move to margin goal come We'll same to believe be don't I every in be will a They But realizing this So it's going not

Kyle Dicke

Looks related kind what's Is just kind [indiscernible] underlying of Okay. And And then have increase the a in working driving it been going revenue there? bit. to both on growth? growing Is there the just at little like quickly, that anything there. of capital receivables? looking

Brian Ketcham

of The come the is Kyle. tied when growth. back of forward. Yes, receivables of as the say revenue in would are is receivables the in some another quarter. -- revenue the I recognized to part the to timing expect would just part would probably it I later was go say line I it of we

Operator

Chris Next question from of will be Monness, Shaw Crespi.

Christopher Shaw

quick So ones. the

surcharge. mentioned through know out surcharges? steel put similar you come with Do have a you in the You the space competitors also

Timothy Hassinger

we we closely. trying are At to doing. Chris, this what monitoring that going on focused are represent to what doing our are avoid we are and I'm competitors point,

Christopher Shaw

Okay. sort around get cost I talked to maybe could for there. about, that efficiency guess, million saves of and the Then back in of mean, $XX sort strategy it's -- on switch gears I to you the XXXX the or margin if I gains. outlook level

was cutback? just cost Is it time that that I'm else? just also curious inflation some any the time year as what what the when sort have increased? Do offset? Was over period you of that what it And of there you something that sort time view normal over And perspective may got it period? high of that sort of structure just of is and in be then over wasn't really that band the frame? never happened of Or on there happened couple XXXX, case

Timothy Hassinger

rate. to efficiencies get causes a Lindsay, my give through more we got Ag jump Chris, have just very of in saw earlier the said all I of not company, process. you are was it And I I've in, the deck hands he's essence play. since any on there and give rapid it. and And in a I'll seen then, went was where product. my that market that in in Brian into history it. again. it like little what similar organization, can come was view. growing growing, And many it Kind we When so a at former

across back trying and Brian, taking those different describe efficiencies than more to At integration add as to entities. trying the existed acquisitions. that in to assertive just I effort were address And achieve said of them. So our what I've same identify find are some time, had what we trying anything there? to would today we there you would going more an and approach are and before.

Brian Ketcham

within Ag have the couple market so acquisitions. during -- over been to think We down, of the come that the only 'XX changes. manufacturing structural cycle. added are Ag and period the Turkey to has also I facility 'XX of say, not time but not did has that -- of just Yes, We from, peak that, 'XX the there some time. adding But 'XX, company, results -- in Ag we the a

So at changes to potential company the some To in we're we going frame. where that where structural looking time during structural want to get that's be, forward. back changes

Christopher Shaw

like You write-offs guys that? to or of asset any with anticipate write-downs significant, -- or help sort

Timothy Hassinger

severance Well, expect to recovered rationalization, be we small, got back several year through will your fees, I operating the consulting additional To these improved to that how will Expectation et cetera? be to cetera. question asset could And over income go big, much, quarters. earlier it the et point, there costs is fees, fiscal include XXXX. in do that answer comment. my next

are middle We the literally just the in of valuation.

So it give us estimate that. for to early on too an is

Operator

question is from next The Seaport Global. a follow-up with Shlisky Mike

Michael Shlisky

you. couple quick here follow-ups A of for

size retrofit to to new inclusion. of Center. opportunity And Operations going Is Or set be for the Deere systems? there? quarters? the can update? you just downloading crops countries, kind secondly, expansion latest is there existing software opportunity of of in both more through and equipment John move big that a with a in opportunity then that system couple just next yield the is mean, there Is the through there revenue there the the a like It's it on of us? help First, would I overall general,

Brian Ketcham

This is Mike. Brian. Yes,

about what's I think regard FieldNET capabilities. Lindsay connection, in connecting has is irrigation John recommendation for the Just which the with Deere it's to this Advisor, that the unique

is it's what John used provide recommendation. downloading Deere FieldNET the in then the system. to crop And are the captured irrigation dates, in that planting Advisor already et that's cetera, details, So doing

positioned So regard. from we uniquely are that

In terms soybeans. this of the added in additional crops the that are being U.S., and corn it was year last

a revenue are being number as there really out different Now talked It's that far -- growth, as we time. haven't this breaking particular added. crops about the of at

Michael Shlisky

a crop. South ask to about right. been a Okay. give your the Can there presence address this this opportunity modest in now situation a might the away quarter that let's a you plan be, There's I was is And of or the have All to in to America. you how you sized us country. say, what coming then thing that -- It's you do? what which here? two Argentina sense a wanted part affecting recently, Is And as world? other will a a maybe season, do country, dry year's drought of for planting bit

Timothy Hassinger

Mike, we Yes. do have in a position Argentina.

of higher we the a an Our see, do said, market is drought there. it you opportunity but as business for than in result Brazil in Argentina, as is share

that our as do do a just we So like usual business business We countries through other network. dealer from in there standpoint.

changing may be anything other see opportunity an don't short than of the had just in existed more few the there, years. I prior term than So there

Michael Shlisky

that or was going be process? so the think Or any of the every I special can it to plan kind is plan system do guess, asking, get system people you to I usual updating there the year of or start kind or sale discounting adopting just you is to there? marketing

Timothy Hassinger

is Mike, And Yes. place on can being announce you I'm that where any competitive would there appreciate forum this a going hope we any that. standpoint. from avoid change I to

Operator

follow-up Next Joe Mondillo is Sidoti from Company. with & a

Joseph Mondillo

the terms growth? any be do anticipate I'm you projects still the return you to the an fiscal large expecting to definitely irrigation expect return? of in 'XX degree you helpful. mix, the international returning that is international trying levels? do Are to to the exactly But expecting the what of year? terms when more tough are having these half year. Any color time irrigation you're would in to at figuring back of out sort from looking of of first on Or like It of of in -- improvement sounds a half

Brian Ketcham

Brian. is This Joe. Yes,

year-over-year expecting are to from international XXXX. show We growth

It had it So referred some does second-half the depend of is projects that Tim on that means loaded. also to.

So that is the timing for we our the can show year. over some shift, growth XXXX full of would of but right that expectation now

Joseph Mondillo

Okay.

saying? the For year, you're full

Brian Ketcham

Correct.

Joseph Mondillo

to sort international is on up, cited Or inventory been irrigation been those you've of Has quarters, And of couple past has X the been couple -- of calls, the that months some talked of think of anything out reason. And X ago? schedule? I I you've has as in because about know Okay. as in anything backlog sort everything saw pushed things a conference has you far last up. being been

Brian Ketcham

No.

occurred that the think dynamic that's part I of second in has the quarter.

project as the is planned that that got had irrigation there. moved the it now for, as we've business got inventory in inventory Some well from with we international infrastructure coming irrigation out. backlog total, But and increase in domestic

Operator

our conference to this I for session. back Ladies concludes like over gentleman, remarks. the closing and to Tim turn Hassinger would question-and-answer any

Timothy Hassinger

progress you you Well, at concludes earnings participation second thanks for in looking held be forward our our to the of updating and interest quarter attending. Thank call in This the today's Quarter X end on to June. call. call. for I'm

Operator

conference for you attending today's now presentation. concluded. The Thank has

You may now disconnect.

Lindsay (LNN) 29 Mar 182018 Q2 Earnings call transcript