Lindsay Corp Q4 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : I guess I have to start with a question on these 5-year financial goals. And I guess, specifically, I have to start with operating margin greater than 14%. I think you did -- you just did operating margin greater than 14% for 2023. It looks like it's up at 15%. Can you just talk about the expectations from there? I mean -- and just how you come up with greater than 14% 5-year target when you are already at 15%?

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Okay. And then I guess I'll go to domestic irrigation. I mean some of your commentary was pretty bullish there Randy. Despite the fact that we've seen a few quarters in a row here of negative growth, fairly negative growth in domestic irrigation business. I mean you talked about strong near-term demand. You talked about positive order rates year-over-year so far this quarter. I understand there was a negative impact from storm revenue year-over-year in the fourth quarter '23. But, It would seem that it's likely that you're still going to have some negative comps there in the short term in domestic irrigation. But Randy, your commentary sounded maybe a bit more bullish than that. So maybe if you can just give us some more color on the near-term expectations around the domestic side of the irrigation business.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : I know you guys don't give guidance, but do you -- I'll ask the question, would you expect to be able to generate organic revenue growth in the domestic business in fiscal '24?