Randy Wood: Yes, I think their footprint I would say is weighted in Europe, but when you look at the map they’re everywhere and they’re involved a little more in the specialty crops, orchards, vineyards, fruits and nuts those types of things. So, we see them maybe in different areas of North America than our current footprint. But their equipment, their technology, the ability to integrate with FieldNET, FieldNET Advisor and then the other digital platforms, we think we can take them everywhere in the world with us, Brett.
Brett Kearney: Excellent. Very helpful. Thank you, Randy.
Randy Wood: You bet.
Operator: Thank you. [Operator Instructions] The next question comes from Nathan Jones with Stifel. Please go ahead.
Adam Farley: Good morning. This is Adam Farley on for Nathan. I want to start on Brazil. What is your expectation for the Brazilian market over the near-term? Should we expect Brazil to maybe get incrementally worse?
Randy Wood: In our view, Adam, Brazil is tricky in the short-term and some of the factors that Brian mentioned in his notes, we view all of those really as being short-term headwinds in that market. Weather this year was tricky depending on whether you were in the north or the south, it was too wet, it was too dry. But a lot of what we see again is it’s very short-term. So, when we look at mid to long-term outlook for that market, it’s still in our view going to be one of the significant growth markets in the world and just their ability to generate three crops. We’ve met with a lot of state officials here in Omaha over the past several months. We’ve got other visits planned for the next couple of weeks. And when you see the amount of land that they have, most of these large ag production states are less than 2%, less than 4% penetrated with irrigation.
So, we do see more interest from state level governments and certainly continue to have support from federal government there. So, we’ve made a lot of investments in Brazil. Some of our strongest team members are there and we’re bullish on Brazil in the long-term just navigating kind of the short-term headwinds right now.
Adam Farley: All right. Thank you for that color. Maybe looking outside of Brazil, could you give us an update on demand fundamentals for the markets outside of Brazil and South America and maybe also the international project funnel?
Randy Wood: Sure. And then, we comment on Brazil and South America because they really are the big movers now when big needle movers now when you look at international revenues. When you go around the rest of the world, there is a lot of puts and takes. And nothing that is up significantly, nothing that is down significantly. But a lot of the other markets kind of offset the minor ups and downs. The project demand that in our view is still very strong both the near and the long-term, and when we talk about project activity, we’re talking about specific pieces of land, specific purchasers, specific designs that are being worked on and depending on which project we talk about, Middle East obviously is very strong, Eastern Europe, Northern and Sub-Saharan Africa.
Some of those we’re actively quoting along with several competitors depending on where we are in the world. Some of those we’re working through confirmed letters of credits and arranging financing and delivery details. Same disclaimer as always on those, that timing is really tough to predict, but we do like what we see in the project funnel and both short and long-term project activity.
Adam Farley: Okay. Thank you for taking my questions.
Randy Wood: You bet. Thanks, Adam.
Operator: Thank you. This concludes our question-and-answer session. I would like to turn the call back over to Randy Wood for closing remarks.
Randy Wood: Well, thank you all for joining us today. We’re very pleased with our results year-to-date and I want to thank our global team for all of their efforts and accomplishments. Despite a tempered near-term outlook in a few of our international irrigation markets, we remain optimistic about the company’s long-term prospects. We appreciate your interest in Lindsay and look forward to updating you on our continued progress following the close of our fiscal 2024 third quarter. Thanks for joining us.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect your lines.
