Q1 2022 Ag Growth International Inc Earnings Call Transcript
Thank you for standing by. This is the conference operator. Welcome to the AGI First Quarter 2022 Results conference call. (Operator Instructions) And the conference is being recorded. After the presentation, there will be an opportunity to ask questions. (Operator Instructions)
I would now like to turn the conference over to Tim Close, President and CEO of AGI. Please go ahead, sir.
Good morning, and thank you for joining Jim Rudyk and I to review our first quarter results and our outlook for 2022. With 2021 serving to validate the benefits of a diversified business model, that trend has continued into the first quarter of 2022. Sales and adjusted EBITDA were up 14% and 6% year over year, both setting first-quarter records, despite 2 significant headwinds in key areas of our business.
Last year's drought in Western Canada had a significant impact on our farm business, which is historically an anchor for our Q1 results. 2021 crop production volumes dropped materially in
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