Quarterly ResultJul 15, 2026, 11:31 AM
Art's-Way Q2 Sales Up 24%, Net Income Down to $0.17M
AI Summary
Art's-Way Manufacturing reported mixed results for the second quarter ended May 31, 2026. Sales increased by approximately 24% year-over-year to $7.85 million, driven by growth in both Agricultural Products and Modular Buildings segments. However, net income significantly decreased to $0.17 million, or $0.03 per share, compared to $1.48 million, or $0.29 per share, in the prior year, primarily due to the absence of non-recurring Employee Retention Credit and related interest income recognized in 2025. The company also established a new $500,000 revolving line of credit for equipment investments.
Key Highlights
- Sales for the three months ended May 31, 2026, rose 24% to $7.85 million from $6.34 million year-over-year.
- Net income for the three months ended May 31, 2026, decreased to $0.17 million from $1.48 million year-over-year.
- Diluted EPS for the three months ended May 31, 2026, was $0.03, down from $0.29 year-over-year.
- Prior year's net income included $1.46 million from Employee Retention Credit and interest income.
- Agricultural Products segment revenue increased to $4.37 million from $4.03 million for the quarter.
- Modular Buildings segment revenue increased to $3.48 million from $2.31 million for the quarter.
- Total assets increased to $23.68 million as of May 31, 2026, from $22.48 million as of November 30, 2025.
- A new $500,000 Reserve Line of Credit was established for equipment deposits.
Price Impact
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