Art’s Way Announces Strong Q2 Earnings

Art’s Way Manufacturing says that for Q2 FY2023, which ended May 31, the company’s consolidated sales increased 23.8% year-over-year to $9,008,000, with sales in the Agricultural Products segment increasing 19.8% to $6,368,000. For the first half of FY2023, consolidated sales grew to $16,903,000 — a 31.1% jump year-over-year, with agricultural product sales growing 24.6% to $11,813,000.

Consolidated net income for Q2 was $307,000 — up from $175,000 for the same period in FY2022. For the first half, consolidated net income was $649,000 compared to a net loss of $231,000 for the first half of FY2022. Income per basic and diluted share for Q2 was $0.06 versus $0.04 for the same period in FY2022. Income per basic and diluted share for the first half was $0.13 compared to a loss of $0.05 for the same period in FY2022.

www.ArtsWay-Mfg.com | Member since 1961

Source: Farm-Equipmet.com