Art’s-Way Manufacturing Co Inc 2026年季度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the quarterly period ended February 28, 2026 or ☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the transition period from ______ to ______ Commission File No. 000-05131 ART’S-WAY MANUFACTURING CO., INC.(Exact name of registrant as specified in its charter) Delaware42-0920725(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 5556 Highway 9Armstrong, Iowa 50514(Address of principal executive offices) (Zip Code)(712) 208-8467(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Number of common shares outstanding as of April 1, 2026: 5,181,386 Art’s-Way Manufacturing Co., Inc.Index PART I–FINANCIAL INFORMATIONItem 1.Financial Statements 11Condensed Consolidated Balance Sheets as of February 28, 2026and November 30, 20251Condensed Consolidated Statements of Operations for the Three-Month Periodsended February 28,2026andFebruary 28, 20252Condensed Consolidated Statements of Stockholders’Equity for the Three-Month Periods ended February 28,2026and February 28, 20253Condensed Consolidated Statements of Cash Flows for the Three-Month Periods ended February 28,2026andFebruary 28, 20254Notes to Unaudited Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations15Item 3.Quantitative and Qualitative Disclosures About Market Risk17Item 4.Controls and Procedures17PART II–OTHER INFORMATION18Item 1.Legal Proceedings18Item 1A.Risk Factors18Item 2.Unregistered Sales of Equity Securities and Use of Proceeds18Item 3.Defaults Upon Senior Securities18Item 4.Mine Safety Disclosures18Item 5.Other Information18Item 6.Exhibits19SIGNATURES20 PART I–FINANCIAL INFORMATION ART’S-WAY MANUFACTURING CO., INC.Condensed Consolidated Statements of Operations(Unaudited) ART’S-WAY MANUFACTURING CO., INC.Condensed Consolidated Statements of Stockholders' EquityThree Months Ended February 28, 2026 and February 28, 2025(Unaudited) ART’S-WAY MANUFACTURING CO., INC.Condensed Consolidated Statements of Cash Flows(Unaudited) Table of Contents Notes to Unaudited Condensed Consolidated Financial Statements 1)Description of the Company Unless otherwise specified, as used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” “Art’s-Way,” andthe “Company” refer to Art’s-Way Manufacturing Co., Inc., a Delaware corporation headquartered in Armstrong, Iowa,and its wholly owned subsidiaries. The Company began operations as a farm equipment manufacturer in 1956. Since that time, it has become anationalmanufacturer of agricultural equipment. Its principal manufacturing plant is located in Armstrong, Iowa. The Company has organized its business into twooperating segments. Management separately evaluates the financialresults of each segment because each is a strategic business unit offering different products and requiring differenttechnology and marketing strategies. The Agricultural Products segment manufactures and sells farm equipment andrelated replacement parts under the Art’s-Way Manufacturing label and private labels. The Modular Buildings segmentmanufactures and installs modular buildings for anima