Brett Kearney

Brett Kearney from American River Opportunity Partners requested an update on the progress of capital expenditure projects for the fiscal year, with a specific focus on the expansion at the Lindsay, Nebraska facility.

Answer

CEO Randy Wood confirmed that the company's CapEx projects, including the key Nebraska facility expansion, are progressing as planned. He noted that while there have been minor weather issues, they were accounted for in the timeline and there are currently no red flags or concerns about the project's schedule.

Brett Kearney inquired about the geographic opportunity set for the infrastructure business, specifically the domestic versus international outlook for fiscal 2025. He also asked about the company's product innovation strategy, including both internal development and potential external acquisitions.

Answer

CFO Brian Ketcham stated that near-term growth in fiscal 2025 for the infrastructure segment is expected to be primarily U.S.-based, supported by federal funding, although the long-term sales funnel includes global opportunities. Executive Randy Wood emphasized that technology and innovation are key differentiators, highlighting continued investment in platforms like FieldWise and connected devices to drive recurring revenue and conserve resources for customers, even during down cycles.