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Art's-Way Manufacturing Co. (ARTW) delivers innovative agricultural equipment and modular building solutions through six decades of engineering expertise. This news hub provides investors and industry professionals with centralized access to official announcements and strategic updates.
Track earnings reports, product launches, and partnership developments alongside operational milestones. Our curated collection features press releases covering agricultural machinery innovations, modular construction projects, and manufacturing advancements.
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Art's Way Manufacturing (ARTW) reports Q1 2025 financial results showing mixed performance across segments. Overall sales declined 10.2% to $5.14 million, but the company achieved a 3.4% gross profit improvement and 19.4% reduction in operating expenses compared to Q1 2024.
The Agricultural Products segment faced challenges with sales dropping 30.4% to $2.95 million, primarily due to high interest rates and low commodity prices. However, the company maintains stable gross margins through cost-cutting measures implemented in 2024.
The Modular Buildings segment showed strong growth with sales increasing 47.5% to $2.19 million and net income improving by $262,000 to $291,000. The segment benefits from a robust backlog and continued strong demand.
Overall net loss narrowed to $56,000 ($0.01 per share) in Q1 2025, a significant improvement from the $368,000 loss in Q1 2024. Management remains optimistic despite market uncertainties, citing potential interest rate cuts and improving dealer inventory levels as positive indicators.
Art's-Way Manufacturing (NASDAQ:ARTW) has reported mixed financial results for fiscal 2024. The Agricultural Products segment saw a 34.7% decrease in net sales to $14.66M, driven by below-average commodity prices and decreased demand. However, the Modular Buildings segment showed strong performance with a 25.9% increase in net sales to $9.84M, particularly in research markets.
The company reported consolidated operating income from continuing operations of $461,000, down from $1.53M in 2023. The Agricultural Products segment posted an operating loss of $1.51M, while Modular Buildings achieved operating income of $1.97M. Overall consolidated net income was $307,000, slightly up from $267,000 in 2023.
Current backlog stands at $3.49M for Agricultural Products and $2.39M for Modular Buildings as of February 4, 2025. The company completed the sale of its discontinued Tools segment real estate for $1.8M in October 2024. Management expects improved profitability in 2025, citing positive indicators in dairy and livestock markets and sustained momentum in the Modular Buildings segment.
Art's Way Manufacturing Co., Inc. (Nasdaq:ARTW) reports financial results for Q3 fiscal 2024 and announces CEO transition. Consolidated sales from continuing operations decreased 27.6% to $5,876,000 for Q3 and 21.8% to $18,329,000 for the nine months ended August 31, 2024. The Agricultural Products segment saw a 46% decrease in Q3 sales, while the Modular Buildings segment increased 11.6%.
Net income from continuing operations was $2,000 for Q3, compared to $241,000 in fiscal 2023. For the nine-month period, the company reported a net loss of $427,000. Loss per share for Q3 was $0.00, compared to income of $0.05 in 2023.
Effective October 1, 2024, President and CEO David King has mutually agreed to separate from the company. Chairman Marc McConnell will serve as the new President and CEO.
Art's Way Manufacturing reported its financial results for Q2 and the first half of fiscal 2024, highlighting significant challenges in its Agricultural Products segment due to a predicted 25% decline in farm income by the USDA. Q2 sales were down 18.2% YoY, with agricultural product sales specifically declining 28.5%. The company recorded a consolidated net loss of $5,000 for Q2 and $429,000 for the first six months of fiscal 2024, compared to net income in the same periods last year. The Modular Buildings segment showed positive growth, with a 17.2% increase in Q2 sales and a 4.7% increase for the first half of 2024. Cost-cutting measures, including layoffs and participation in a voluntary workshare program, have been implemented to mitigate financial strains. The company anticipates continued sales challenges in the agricultural segment but expects positive performance from the Modular Buildings segment due to a strong backlog.
Art's Way Manufacturing Co. (Nasdaq:ARTW) announced its financial results for Q1 FY2023, highlighting significant growth across all business segments. Sales surged by 40.7% to $7.895 million compared to $5.613 million in Q1 FY2022. The Agricultural Products segment saw a 30.9% increase in sales, totaling $5.445 million, due to strong demand and manufacturing efficiencies. The Modular Buildings segment experienced an impressive 89.2% sales growth, reaching $1.642 million, supported by active project work in agriculture and research. The Tools segment also grew by 38.4% to $808,000. Net income for the quarter was $342,000, compared to a loss of $(406,000) last year, alongside an EPS of $0.07. The company anticipates continued growth driven by robust demand and improved operational conditions.
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