secwatch.observer — SEC 8-K summary
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Issuer:     ARTS WAY MANUFACTURING CO INC (ARTW)
CIK:        0000007623
Form:       8-K
Filed at:   2024-04-09T23:59:59+00:00
Accession:  0001437749-24-011490
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Art's-Way posts Q1 net loss of $424K; Ag sales drop 22% but Modular backlog surges 112%
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- Consolidated sales $5.723M, down 19.2% YoY from $7.087M; operating loss of $537K vs prior-year income of $444K.
- Net loss of $424K ($0.09 diluted loss) vs net income of $350K ($0.07) in Q1 fiscal 2023.
- Agricultural Products segment sales fell 22.2% to $4.236M; company began layoffs and offered early retirement.
- Modular Buildings sales down 9.4% to $1.487M but backlog hit $8.94M (+112.4%), largest in 10 years.
- Consolidated backlog $11.416M (-4.9%); Ag backlog fell 68.2% to $2.476M on lower commodity prices.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/7623/000143774924011490/0001437749-24-011490-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/7623/000143774924011490/artw20240408_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-011490

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer