Lindsay Corporation (NYSE:LNN) Q3 2022 Earnings Conference Call June 30, 2022 11:00 AM ET

Company Participants

Randy Wood - President and CEO

Brian Ketcham - CFO

Conference Call Participants

Nathan Jones - Stifel

Brian Drab - William Blair

Brett Kearney - Gabelli Funds

John Braatz - KCCA

Operator

Good morning. My name is Joe, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Lindsay Corporation Third Quarter Fiscal Year 2022 Earnings Call. [Operator Instructions] Do please note that this event is being recorded.

During this call, management may make forward-looking statements that are subject to risks and uncertainties, which reflect management's current beliefs, estimates of future economic circumstances, industry conditions, company performance and financial results. Forward-looking statements include the information concerning possible or assumed future results of operations of the company and those statements preceded by, followed by or including the words expectation, outlook, could, may, should or similar expressions. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

I would now like to turn the call over to Mr. Randy Wood, President and Chief Executive Officer.

Randy Wood

Thank you, and good morning, everyone. Welcome to our third quarter earnings call. With me today is Brian Ketcham, our Chief Financial Officer.

Our third quarter results reflect the ongoing commitment of our employees around the world to support our customers and dealers in a very dynamic environment. Our entire organization continues to effectively manage through supply chain challenges, logistics constraints and inflationary pressures, while our commercial teams have effectively managed pricing to preserve business quality.

This teamwork, focus and one Lindsey approach is evident in our results. Our third quarter revenue and operating income was the second highest in our company history, rivaling the highest quarter ever during the peak of the ag cycle in 2013. We thank our teams around the world for all they're doing to contribute to the success of our customers and our company.

In the area of innovation, our Smart Pivot program continues to progress forward, and we're getting great customer reviews from our new FieldNET user experience that will be released later this fall. We're also seeing strong market acceptance for our new Road RoadConnect telemetry platform in the infrastructure business, and our relationship with Blyncsy continues to showcase the power of innovation that's possible with strong industry partnerships. To date, we have devices deployed in 27 states across the U.S. with several international sites ready to deploy before the end of the fiscal year.