Art's-Way Manufacturing Co., Inc. Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2023
July 13, 2023 at 01:09 pm EDT
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Art's-Way Manufacturing Co., Inc. reported earnings results for the second quarter and six months ended May 31, 2023. For the second quarter, the company reported sales was USD 9.01 million compared to USD 7.28 million a year ago. Net income was USD 0.306664 million compared to USD 0.175353 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to USD 0.04 a year ago.
For the six months, sales was USD 16.9 million compared to USD 12.89 million a year ago. Net income was USD 0.648874 million compared to net loss of USD 0.231136 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
Art's-Way Manufacturing Co., Inc. is a manufacturer of agricultural equipment and specialized in modular science and agricultural buildings. The Company operates through two segments: Agricultural Products and Modular Buildings. The Agricultural Products segment manufactures a variety of specialized farm machinery under its own label, including portable and stationary animal feed processing equipment and related attachments used to mill and mix feed grains into custom animal feed rations; a line of forage equipment consisting of forage boxes, bale processors, running gear, and dump boxes; a line of manure spreaders; sugar beet harvesting equipment, and a line of dirt work equipment. The Modular Buildings segment produces, sells and leases modular buildings, which are custom designed to meet the specific research needs of its customers. The buildings it commonly produces range from basic swine buildings to complex containment research laboratories.
ART'S-WAY MANUFACTURING CO., INC. 
