Arts-Way Manufacturing Clocks 2% Sales Growth In Q3, Notes Margin Expansion

October 13, 2021 2:24 PM | 1 min read | Make a Comment

Arts-Way Manufacturing Co. Inc. ARTW reported third-quarter FY21 sales growth of ~2% year-over-year to $6.59 million.
Sales by segments: Agricultural Products sales $4.66 million (+26.9% Y/Y) and Tools segments $0.619 million (+30.2% Y/Y), and Modular Buildings $1.31 million (-43.4% Y/Y). Modular Building's decrease in sales for the quarter is mainly due to completing a large laboratory project.
EPS improved to $0.01 from $(0.10) in 3Q20. The gross margin was 26.4%, compared to 14.3% in 3Q20.
Operating income stood at $0.16 million, compared to $(0.51) million a year ago.
The company noted favorable market conditions, increased sales, and a strong backlog supports a positive outlook for 4Q21 and the first half of 2022.
Price Action: ARTW shares are trading lower by 3.12% at $3.57 on the last check Wednesday.

Posted In: Earnings News Penny Stocks Movers Trading Ideas Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.