Operating income for the quarter was $27 million, a decrease of $8.2 million, or 23%, compared to operating income of $35.2 million in the prior year third quarter.

The company is off to a strong start to the 2024 fiscal year according to David Meyer, chairman and CEO. He added that the ag segment continues to drive growth.

Order book is up 7% year-over-year as of March 31, 2023, supporting the prospect of continued growth through 2023

Supply chain issues continue to hamper sales growth, and the company continues to have a large backlog.

Valmont reported ag sales of $332.2 million, up 8.3% year-over-year, with sales growth led by higher average selling prices of irrigation equipment globally.

Art’s Way Manufacturing Co., a diversified, international manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, has announced its financial results for the first quarter of fiscal 2023.

Revenues for the second quarter of fiscal 2023 were $166.2 million, a decrease of $33.9 million, or 17%, compared to revenues of $200.1 million in the prior year second quarter. Almost all of the decrease came from the irrigation segment as infrastructure revenues were down slightly.