What’s New at Seneca Foods?
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Sep. 1, 2020 | Corporate
“We would like to thank Kraig for his many contributions to the Company. The Board has tremendous respect for Kraig’s leadership and the performance Seneca Foods has achieved under his direction. As we look forward to a smooth transition we note that Paul understands both our history and vision for the future and has the skills and perspective needed to build upon our solid foundation and take Seneca Foods to the next level.” - The Seneca Board
Aug. 5, 2020 | Earnings Reports
“During the first quarter, we continued to see improved results from our extensive restructuring undertaken over the last few years. In addition, pantry loading due to the COVID-19 pandemic helped drive our sales.” -Kraig Kayser, President and CEO
Jul. 2, 2020 | Earnings Reports
“During Fiscal 2020 we completed two years of restructuring that included plant consolidations, divestitures including exiting the canned fruit business. As expected, the Company improved its margins when compared to the prior year. In addition, we had an unexpected sales lift in the last month of the fiscal year as consumers pantry loaded as a result of the coronavirus pandemic,” stated Kraig Kayser, President and Chief Executive Officer.
Jun. 12, 2020 | Corporate
As a result of the impacts of COVID-19 pandemic on the business and employees of Seneca Foods, we will be relying on the Securities and Exchange Commission’s Order under Section 36 of the Securities Exchange Act of 1934 Modifying Exemptions From the Reporting and Proxy Delivery Requirements for Public Companies dated March 25, 2020 (Release No. 34-88465) to delay the filing of our Annual Report on Form 10-K for the fiscal year ended March 31, 2020.
Apr. 8, 2020 | Corporate
Our mission at Seneca Foods Corporation is to feed the world safe and nutritious products that are valued and enjoyed by families everywhere. This mission is supported by our vision which is to continue to grow as a leader in the food industry by remaining deeply rooted in our Fundamental Beliefs and through a shared commitment to those we serve.
Feb. 6, 2020 | Corporate
Seneca Foods and CraftAg Enterprises announce the formation of a joint-venture, CraftAg, LLC, a vertically integrated seed-to-sale hemp company
The newly formed CraftAg, LLC will process hemp in Sunnyside, WA, at a facility that was previously owned by Seneca and used as a pear and apple cannery. The repurposed 270k square foot facility has already begun processing the 2019 crop of Aromahemp™, and is ideally located in the heart of the Yakima Valley, a region well-suited for growing specialty crops such as hemp.
Feb. 5, 2020 | Earnings Reports
Gross margin percentage from continuing operations income increased from 2.7% to 9.3% as compared to the prior year nine months. Higher sales volume, lower cost increases and a decrease in the LIFO charge all contributed to the higher gross margin percentage.