Lindsay Corporation delivered a solid cash-generative quarter amid uneven market dynamics across its two primary segments. Total Q4 revenue was $154.998 million, down 7% year-over-year, with full-year revenue of $607.1 million, down 10% vs. the prior year. The irrigation segment faced pronounced international softness, particularly in Brazil, offset by North American volumes and a ramp in large international projects, notably in the Middle East and other developing markets. Infrastructure revenues rose 24% year-over-year in Q4, supported by Road Zipper system sales and lease activity, contributing to a healthier margin mix in the segment. Higher fixed-cost deleverage and ongoing SG&A investments related to project activity tempered consolidated margins, with full-year operating margin for irrigation at 17% and total company operating margin around 8.7% (EBITDA margin ~11.5%). Management emphasized disciplined price/cost management, investment in technology, and a robust funnel of future opportunities, including a sizable MENA project footprint extending into fiscal 2025 and a growing Road Zipper pipeline in the U.S. and internationally. Liquidity remained exceptionally strong: cash and equivalents stood at $190.9 million with total liquidity of $240.9 million, supporting a free cash flow of $66.8 million (101% of net earnings). The company repurchased $4.6 million of stock in the quarter and $22.5 million for the year. Looking ahead, Lindsay highlighted stronger U.S. infrastructure funding in fiscal 2025, a continued MENA project rollout, and a growing installed base of connected devices (over 140,000) with 28% ARR growth in fiscal 2024 as key catalysts for margin stability and long-term growth.