Art's-Way Q2 revenue down 18.2% to $6.73M; net loss of $5K vs net income of $330K

ARTS WAY MANUFACTURING CO INC

2024-Q2 EPS reported -$0.10 revenue$12,453,663

Agricultural segment sales fell 28.5% to $4.555M; Modular Buildings up 17.2% to $2.175M.
Six-month net loss of $429K ($0.09 loss per share) vs $680K net income a year ago.
CEO cites USDA 25% farm income decline forecast and high interest rates pressuring ag demand.
Cost cutting includes layoffs, early retirement incentives, and Iowa workshare program started April 2024.
Modular Buildings backlog at historic levels; expects continued revenue growth rest of fiscal 2024.

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