Q3 2023 Lindsay Corp Earnings Call Transcript
Good day, and welcome to the Lindsay Corporation Third Quarter 2023 Earnings Conference Call. (Operator Instructions) Please note that this event is being recorded. I would now like to turn the conference over to Randy Wood, President and Chief Executive Officer. Please go ahead.
Thank you, and good morning, everyone. Welcome to our fiscal 2023 3rd quarter earnings call. With me today is Brian Ketcham, our Chief Financial Officer. I'd like to start by looking at market conditions in North American irrigation where we're really seeing 2 themes playing off 1 another. Firstly, market fundamentals remain strong. And although net farm income is projected to decline versus last year, it's still well above historical averages and will represent the third highest income level over the past 10 years. .
Commodity prices have also seen support recently due to crop quality concerns caused by the drought. While some parts of the country have received much needed precipitation, we have seen drought
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