Latest news with #SenecaFoods
Washington Post
2 days ago
- Business
- Washington Post
Seneca Foods: Fiscal Q4 Earnings Snapshot
FAIRPORT, N.Y. — FAIRPORT, N.Y. — Seneca Foods Corp. (SENEA) on Thursday reported earnings of $601,000 in its fiscal fourth quarter. The Fairport, New York-based company said it had net income of 9 cents per share. Earnings, adjusted for non-recurring costs, were $1.37 per share. The fruit and vegetable company posted revenue of $345.8 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SENEA at
Yahoo
2 days ago
- Business
- Yahoo
Seneca Foods Reports Sales and Earnings for the Quarter and Twelve Months Ended March 31, 2025
FAIRPORT, N.Y., June 12, 2025 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2025. Executive Summary (vs. year-ago, year-to-date results): Net sales for the twelve months ended March 31, 2025 totaled $1,578.9 million compared to $1,458.6 million for the twelve months ended March 31, 2024. The year-over-year increase of $120.3 million was driven by higher sales volumes, complemented by higher selling prices and favorable mix. Gross margin as a percentage of net sales is 9.5% for the twelve months ended March 31, 2025, as compared to 12.9% for the twelve months ended March 31, 2024. 'We completed a strong fiscal 2025 despite various challenges posed by a rainy growing season, increasing costs, and fluctuating tariffs,' stated Paul Palmby, President and Chief Executive Officer of Seneca Foods. 'Increased sales volumes and excellent operating cash flow led to a reduction in net debt of $297M year-over-year. However, in the short-term we continue to see the impact of our high-cost 2024 pack weigh on margins.' Executive Summary (vs. year-ago, fourth quarter results): Net sales for the fourth quarter of fiscal 2025 totaled $345.8 million compared to $308.0 million for the fourth quarter of fiscal 2024. The year-over-year increase of $37.8 million was driven by higher sales volumes, complemented by higher selling prices and favorable mix. Gross margin as a percentage of net sales is 4.5% for the three months ended March 31, 2025, as compared to 6.7% for the three months ended March 31, 2024. About Seneca Foods Corporation Seneca Foods is one of North America's leading providers of packaged fruits and vegetables, with facilities located throughout the United States. Its high quality products are primarily sourced from more than 1,100 American farms and are distributed to approximately 55 countries. Seneca holds a large share of the market for retail private label, food service, restaurant chains, international, contracting packaging, industrial, chips and cherry products. Products are also sold under the highly regarded brands of Libby's®, Green Giant®, Aunt Nellie's®, Green Valley®, CherryMan®, READ®, and Seneca labels, including Seneca snack chips. Seneca's common stock is traded on the Nasdaq Global Select Market under the symbols 'SENEA' and 'SENEB'. SENEA is included in the S&P SmallCap 600, Russell 2000 and Russell 3000 indices. Non-GAAP Financial Measures Adjusted net earnings excludes the non-cash charges related to the last-in, first-out (LIFO) inventory valuation method, net of applicable income taxes. The Company believes this non-GAAP financial measure provides for a better comparison of year over year operating performance. The Company does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with GAAP. Set forth below is a reconciliation of reported earnings before income taxes to adjusted net earnings (in thousands). Twelve Months Ended March 31, March 31, 2025 2024 Earnings before income taxes, as reported $ 54,483 $ 82,999 LIFO charge 34,474 22,342 Adjusted earnings before income taxes 88,957 105,341 Income taxes 21,843 25,177 Adjusted net earnings $ 67,114 $ 80,164 Set forth below is a reconciliation of reported net earnings to EBITDA and FIFO EBITDA (earnings before interest, income taxes, depreciation, amortization and non-cash charges related to the LIFO inventory valuation method). The Company does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with GAAP (in thousands). Twelve Months Ended EBITDA and FIFO EBITDA: March 31, March 31, 2025 2024 Net earnings $ 41,224 $ 63,318 Income taxes 13,259 19,681 Interest expense, net of interest income 33,245 34,020 Depreciation and amortization 49,795 50,729 Interest amortization (565 ) (447 ) EBITDA 136,958 167,301 LIFO charge 34,474 22,342 FIFO EBITDA $ 171,432 $ 189,643 Forward-Looking Information This release contains 'forward-looking statements' as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments, and results and do not relate strictly to historical facts. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and may contain the words "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "seeks," "should," "likely," "targets," "may," "can' and variations thereof and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed. We believe important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the following: the effects of rising costs and availability of raw fruit and vegetables, steel, ingredients, packaging, other raw materials, distribution and labor; crude oil prices and their impact on distribution, packaging and energy costs; an overall labor shortage, ability to retain a sufficient seasonal workforce, lack of skilled labor, labor inflation or increased turnover impacting our ability to recruit and retain employees; climate and weather affecting growing conditions and crop yields; our ability to successfully implement sales price increases and cost saving measures to offset cost increases; the loss of significant customers or a substantial reduction in orders from these customers; effectiveness of our marketing and trade promotion programs; competition, changes in consumer preferences, demand for our products and local economic and market conditions; the impact of a pandemic on our business, suppliers, customers, consumers and employees; unanticipated expenses, including, without limitation, litigation or legal settlement expenses; product liability claims; the anticipated needs for, and the availability of, cash; the availability of financing; leverage and the ability to service and reduce debt; foreign currency exchange and interest rate fluctuations; the risks associated with the expansion of our business; the ability to successfully integrate acquisitions into our operations; our ability to protect information systems against, or effectively respond to, a cybersecurity incident or other disruption; other factors that affect the food industry generally, including: recalls if products become adulterated or misbranded, liability if product consumption causes injury, ingredient disclosure and labeling laws and regulations and the possibility that consumers could lose confidence in the safety and quality of certain food products; competitors' pricing practices and promotional spending levels; fluctuations in the level of our customers' inventories and credit and other business risks related to our customers operating in a challenging economic and competitive environment; and the risks associated with third-party suppliers, including the risk that any failure by one or more of our third-party suppliers to comply with food safety or other laws and regulations may disrupt our supply of raw materials or certain finished goods products or injure our reputation; and changes in, or the failure or inability to comply with, U.S., foreign and local governmental regulations, including health, environmental, and safety regulations. Except for ongoing obligations to disclose material information as required by the federal securities laws, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of the filing of this report or to reflect the occurrence of unanticipated events. Contact: Michael Wolcott, Chief Financial Officer585-495-4100 Seneca Foods Corporation Unaudited Selected Financial Data For the Periods Ended March 31, 2025 and March 31, 2024 (In thousands of dollars, except share data) Three Months Ended Twelve Months Ended March 31, March 31, March 31, March 31, 2025 2024 2025 2024 Net sales $ 345,839 $ 307,983 $ 1,578,887 $ 1,458,603 Operating income (note 1) 1,988 2,548 77,770 107,231 Other non-operating income (5,624 ) (5,288 ) (9,958 ) (9,788 ) Interest expense, net 6,046 10,874 33,245 34,020 Earnings (loss) before income taxes $ 1,566 $ (3,038 ) $ 54,483 $ 82,999 Income taxes expense (benefit) 965 (791 ) 13,259 19,681 Net earnings (loss) $ 601 $ (2,247 ) $ 41,224 $ 63,318 Basic earnings (loss) per common share $ 0.09 $ (0.32 ) $ 5.95 $ 8.64 Diluted earnings (loss) per common share $ 0.09 $ (0.32 ) $ 5.90 $ 8.56 Note 1: The effect of the LIFO inventory valuation method on the fourth quarter pre-tax results decreased operating income by $11.5 million and $2.7 million for the three months ended March 31, 2025 and March 31, 2024, respectively. The effect of the LIFO inventory valuation method on YTD twelve month pre-tax results decreased operating income by $34.5 million and $22.3 million for the twelve months ended March 31, 2025 and March 31, 2024, respectively. Note 2: The Company used the 'two-class' method for basic earnings per share by dividing the earning attributable to common shareholders by the weighted average of common shares outstanding during the period. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
We Like These Underlying Return On Capital Trends At Seneca Foods (NASDAQ:SENE.A)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at Seneca Foods (NASDAQ:SENE.A) so let's look a bit deeper. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Seneca Foods: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.087 = US$85m ÷ (US$1.2b - US$244m) (Based on the trailing twelve months to December 2024). Therefore, Seneca Foods has an ROCE of 8.7%. In absolute terms, that's a low return but it's around the Food industry average of 10%. Check out our latest analysis for Seneca Foods While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Seneca Foods has performed in the past in other metrics, you can view this free graph of Seneca Foods' past earnings, revenue and cash flow. We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. The data shows that returns on capital have increased substantially over the last five years to 8.7%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 29%. So we're very much inspired by what we're seeing at Seneca Foods thanks to its ability to profitably reinvest capital. All in all, it's terrific to see that Seneca Foods is reaping the rewards from prior investments and is growing its capital base. And a remarkable 188% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence. If you want to continue researching Seneca Foods, you might be interested to know about the 2 warning signs that our analysis has discovered. While Seneca Foods may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
28-02-2025
- Business
- Yahoo
With 41% ownership, Seneca Foods Corporation (NASDAQ:SENE.A) has piqued the interest of institutional investors
Institutions' substantial holdings in Seneca Foods implies that they have significant influence over the company's share price The top 9 shareholders own 51% of the company Insider ownership in Seneca Foods is 16% To get a sense of who is truly in control of Seneca Foods Corporation (NASDAQ:SENE.A), it is important to understand the ownership structure of the business. And the group that holds the biggest piece of the pie are institutions with 41% ownership. Put another way, the group faces the maximum upside potential (or downside risk). Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait. Let's take a closer look to see what the different types of shareholders can tell us about Seneca Foods. View our latest analysis for Seneca Foods Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. As you can see, institutional investors have a fair amount of stake in Seneca Foods. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Seneca Foods, (below). Of course, keep in mind that there are other factors to consider, too. Hedge funds don't have many shares in Seneca Foods. Seneca Foods Pension Plan is currently the company's largest shareholder with 15% of shares outstanding. With 7.3% and 6.5% of the shares outstanding respectively, Dimensional Fund Advisors LP and Kraig Kayser are the second and third largest shareholders. Kraig Kayser, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board. Additionally, the company's CEO Paul Palmby directly holds 2.7% of the total shares outstanding. We did some more digging and found that 9 of the top shareholders account for roughly 51% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Seneca Foods Corporation. Insiders own US$91m worth of shares in the US$567m company. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. The general public-- including retail investors -- own 28% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. It's always worth thinking about the different groups who own shares in a company. But to understand Seneca Foods better, we need to consider many other factors. Be aware that Seneca Foods is showing 2 warning signs in our investment analysis , you should know about... Of course this may not be the best stock to buy. So take a peek at this free free list of interesting companies. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
08-02-2025
- Business
- Yahoo
Seneca Foods Third Quarter 2025 Earnings: EPS: US$2.13 (vs US$2.48 in 3Q 2024)
Revenue: US$502.9m (up 13% from 3Q 2024). Net income: US$14.7m (down 17% from 3Q 2024). Profit margin: 2.9% (down from 4.0% in 3Q 2024). The decrease in margin was driven by higher expenses. EPS: US$2.13 (down from US$2.48 in 3Q 2024). All figures shown in the chart above are for the trailing 12 month (TTM) period Seneca Foods shares are up 1.5% from a week ago. You still need to take note of risks, for example - Seneca Foods has 2 warning signs we think you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
