Art's-Way Manufacturing Co., Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended August 31, 2023
October 13, 2023 at 05:24 pm EDT
Share
Art's-Way Manufacturing Co., Inc. reported earnings results for the third quarter and nine months ended August 31, 2023. For the third quarter, the company reported sales was USD 8.12 million compared to USD 7.48 million a year ago. Net loss was USD 0.07403 million compared to net income of USD 0.237775 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.06 a year ago. Basic loss per share was USD 0.01 compared to basic earnings per share of USD 0.05 a year ago. Diluted loss per share was USD 0.01 compared to diluted earnings per share of USD 0.05 a year ago.
For the nine months, sales was USD 23.43 million compared to USD 19.03 million a year ago. Net income was USD 0.574845 million compared to USD 0.006403 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.04 a year ago. Basic earnings per share was USD 0.11. Diluted earnings per share was USD 0.11.
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.