Consolidated net sales at Arts’s Way Manufacturing increased by 11.4 percent in 2021.
In the company’s agriculture segment, net sales for the year climbed by 28.6 percent.
Art’s Way noted increased demand for its grinder mixers, manure spreaders and beet harvesting equipment and reported that its backlog in 2022 is even higher than in 2021.
The company reported to investors that it combated margin erosion through price increases.
Art’s Way reported an 18 percent gain in labor output on roughly the same amount of wages in 2021, which it said resulted from increased demand and better shop floor planning.
“We overcame ongoing challenges with the supply chain, skilled labor shortages and the impacts of COVID-19 to deliver to our customers,” said President and CEO David King. “While supply chain constraints are expected to continue for the foreseeable future, our team continues to work closely with suppliers to mitigate disruptions.”
King also said Art’s Way saw “continued operational efficiency gains from our ongoing efforts to become leaner as a manufacturer.”
Member since 1961 | artsway-mfg.com