Aug. 7, 2025 | Earnings Reports
FAIRPORT, N.Y. August 7, 2025 -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended June 28, 2025.
Executive Summary (vs. year-ago, year-to-date results):
- Net sales for the first quarter of fiscal 2026 totaled $297.5 million compared to $304.7 million for the first quarter of fiscal 2025. The year-over-year decrease of $7.2 million was driven by lower sales volumes, partially offset by higher selling prices and the impact of product mix.
- Gross margin as a percentage of net sales is 14.1% for the three months ended June 28, 2025, as compared to 14.0% for the three months ended June 29, 2024.
Paul Palmby, President and Chief Executive Officer of Seneca Foods stated:
Despite some headwinds in the first quarter, including high-cost 2024 inventory as a result of unfavorable weather last summer, we are very pleased with our results and have made good progress selling through the 2024 pack. We also experienced sales disruptions from a key co-pack customer that resulted in lower volumes in the quarter, which we expect to recoup going forward under this contractual relationship. The 2025 pack is well underway, and we are optimistic that a better growing season will lead to more normalized inventory levels and costs.