Art's Way Ag Continues to Fight Headwinds of North American Farm Sector

Jul 11, 2024

ARMSTRONG, Iowa — Art's Way Manufacturing Co., Inc., a diversified manufacturer and distributor of equipment serving agricultural and research needs, announces its financial results for the second quarter of fiscal 2024 and six months ended May 31, 2024.

Sales: Art's Way's second quarter sales in its Agricultural Products segment were $4,555,000 compared to $6,368,000 during the same period of fiscal 2023, a decrease of $1,813,000, or 28.5%. For the six months ended May 31, 2024, sales were $8,792,000 compared to $11,813,000, a decrease of $3,021,000, or 25.6% for the same period of 2023. In February of 2024, the U.S. Department of Agriculture reported a 25% expected decline in farm income levels for 2024 due to weaker row crop prices and expected increases in production expenses. Art's Way's sales year to date have mirrored the USDA's sentiments on projected farm income. Incoming orders on the fall 2023 and spring 2024 early order programs declined for the first time in three years.

Net Income (Loss): Consolidated net loss from continuing operations was $5,000 for the three-month period ended May 31, 2024, compared to net income of $330,000 for the same period in fiscal 2023. For the six months ended May 31, 2024 our consolidate

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Video: Cleaning Sheep Barns & Setting Up Chutes

Indoor sheep farming in winter at pre-lambing time requires that, at Ewetopia Farms, we need to clean out the barns and manure in order to keep the sheep pens clean, dry and fresh for the pregnant ewes to stay healthy while indoors in confinement. In today’s vlog, we put fresh bedding into all of the barns and we remove manure from the first groups of ewes due to lamb so that they are all ready for lambs being born in the next few days. Also, in preparation for lambing, we moved one of the sorting chutes to the Coveralls with the replacement ewe lambs. This allows us to do sorting and vaccines more easily with them while the barnyard is snow covered and hard to move sheep safely around in. Additionally, it frees up space for the second groups of pregnant ewes where the chute was initially.