ARTW earnings analysis
What we found in ARTW's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Art's-Way Manufacturing reported solid revenue growth in Q2 2026, with total revenue reaching approximately $7.85 million, up 23.9% year-on-year. However, the company's net income decreased significantly, primarily due to the lack of prior Employee Retention Credit refunds, resulting in an EPS of $0.03 for the quarter, missing consensus estimates.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Total revenue increased to $7.85 million, up 23.9% from $6.34 million in Q2 2025.
- Operating Income Challenges
- Operating income fell, with net income dropping to $173,000 from $1,482,000 in Q2 2025.
- Modular Building Surge
- Modular Buildings segment revenue rose by 50.6% to $3.48 million from $2.31 million in Q2 2025.
- Agricultural Products Demand
- Sales in Agricultural Products rose to $4.37 million, an increase of 8.6% year-on-year.
- Cash and Credit Facilities
- Revolving credit balance was $3,495,438 as of May 31, 2026, with additional $1.5 million available for needs.
- Inventory Management Strategy
- Increased finished product inventory aimed at capturing retail opportunities, despite being elevated compared to prior years.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Reduced Net Income
- Net income fell significantly to $173,000 in Q2 2026 from $1,482,000 in Q2 2025, partially due to a loss of Employee Retention Credit.
- Weak Order Backlog
- Total consolidated order backlog fell by 37.7% to $2.74 million as of July 7, 2026 compared to $4.41 million a year ago.
- Cost Pressures
- Rising steel prices continue to pose threats to margins, affecting gross margins in both segments.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.03
- Gross margin
- 25.9%
- Segment
- Agricultural Products
- Segment
- Modular Buildings
What they said about what is next.
No explicit numeric guidance provided; management anticipates improved demand in agriculture but expresses caution due to inflationary pressures.
The filing reads about the same as the one before it.
What came before.
- 10-Q · April 13, 2026
- Art’s-Way reported Q1 revenue of $6,640,285, up from $5,140,955 a year earlier, and delivered net income of $196,442 (EPS $0.04) compared with a net loss of $(55,757) (EPS $(0.01)) in Q1 2025. Operating income improved…
- 10-K · February 12, 2026
- Art’s-Way frames itself as a two-segment manufacturer (Agricultural Products and Modular Buildings) focused on niche farm equipment lines and turnkey modular research/animal facilities. The 2025 filing shows modular…
- 10-Q · July 14, 2025
- Art’s-Way reported Q2 sales of $6,336,690 (down $393,578 or 5.8% vs Q2 2024) and GAAP net income of $1,482,069, or $0.29 per share. Gross margin expanded to 32.5% (up ~4.2pp YoY) and operating margin improved to 8.1%…
- 10-Q · July 11, 2024
- Art’s‑Way reported Q2 sales of $6,730,268, down $1,494,127 (-18.2%) from $8,224,395 a year earlier, and a net loss of $33,340 vs. net income $306,664 in Q2 FY2023. Gross margin improved to 28.32% while operating margin…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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