- Record Revenue for Third Quarter of Fiscal 2024 of $694.1 million, with EPS of $1.32 -- Closes Acquisition of J.J. O'Connor & Sons Pty. Ltd. in October 2023 --

Agriculture Segment - Revenue for the third quarter of fiscal 2024 was $531.4 million, compared to $493.3 million in the third quarter last year. The revenue increase was led by the acquisition of Pioneer Farm Equipment in February 2023, and also benefited from same-store growth of 3.5%, which was achieved on top of a very robust 46.4% same-store increase in the prior year. Revenue growth was constrained by delayed OEM deliveries and capacity constraints of our service department as we prioritized supporting our customers through harvest, which limited our ability to process and deliver pre-sold units to customers. Pre-tax income for the third quarter of fiscal 2024 was $35.1 million, compared to $42.0 million in the third quarter of the prior year.

Construction Segment - Revenue for the third quarter of fiscal 2024 was $77.5 million, compared to $86.4 million in the third quarter last year. The year-over-year decrease in revenue was driven by the timing of equipment deliveries which shifted some revenue into the fourth quarter of this year as compared to the timing of deliveries to customers in the second half of last year. Pre-tax income for the third quarter of fiscal 2024 was $4.1 million, compared to $6.1 million in the third quarter last year.

Europe Segment (formerly "International") - Revenue for the third quarter of fiscal 2024 was $85.2 million, compared to $89.0 million in the third quarter last year; foreign currency fluctuations accounted for a $5.4 million increase in revenue. Net of the effect of these foreign currency fluctuations, revenue decreased $9.2 million, or 10.4%. The year-over-year decrease in revenue was driven by a softening of demand which was negatively impacted by dry conditions and below average yields in Bulgaria and Romania. Pre-tax income for the third quarter of fiscal 2024 was $5.1 million, compared to pre-tax income of $8.5 million in the third quarter of the prior year.

Australia Segment - The Company closed on the acquisition of J.J. O'Connor & Sons Pty. Ltd. ("O'Connors") on October 2, 2023; however, those results are not yet consolidated in the reported fiscal 2024 third quarter financials. As a reminder, the Company's Europe segment reports its financial results on a one-month lag, and the Company will report its Australia segment with the same methodology so the segment contribution will begin in the fourth quarter of this fiscal year.