Art’s Way Manufacturing has reported an encouraging first quarter this fiscal year.
Consolidated corporate sales for the quarter ending Feb. 29 increased by 21.9 percent compared to the same quarter last year. The increase is due to stronger sales across all three segments: agriculture, tools, and modular buildings.
First quarter sales in the agricultural segment increased by 13.1 percent. The company attributed the increase to demand across its manure spreader, dump box and grinder product lines.
Marc McConnell, chairman of the Art’s Way Board of Directors, said the company was “pleased to report top-line growth,” but world events have dashed optimism.
“Our outlook for the year has until recently been positive, but at this time we have lowered our expectations as the impact of COVID-19 has brought new challenges to our business and leaves us uncertain as to what to expect from a demand perspective for the balance of the year,” McConnell said.
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