Earnings Reports

Feb. 8, 2023 | Earnings Reports

Seneca Foods Reports Sales and Earnings for the Nine Months Ended December 31, 2022

“Third quarter results delivered solid sales and earnings growth despite persistent inflationary pressures that led to another large non-cash LIFO charge. Cost increases, particularly for raw materials and labor, have necessitated pricing actions to minimize the impact of inflation on our results. Additionally, our team has worked diligently to mitigate the supply chain challenges we have faced.” - Paul Palmby, CEO

Nov. 9, 2022 | Earnings Reports

Seneca Foods Reports Sales and Earnings for the Six Months Ended October 1, 2022

“Inflation continues to have an impact on our reported earnings as a non-cash pre-tax LIFO charge of $29.2 million was incurred in the 3 months ended October 1, 2022,” said Paul Palmby, President and Chief Executive Officer of Seneca Foods. “However, through cost mitigation and needed pricing advances reflecting the reality of persistent inflationary pressure, we have been able to minimize the impact on our results. In addition, with a successful raw product pack season, inventory levels are sufficient to fully support customer needs.”

Feb. 10, 2022 | Earnings Reports

Seneca Foods Reports Sales and Earnings for the Nine Months Ended January 1, 2022

“The Company delivered a solid performance in the third quarter of fiscal 2022 despite a large LIFO charge to the quarter and year to date being caused by higher input costs. Total net sales are down compared to prior year, which was expected given the 2020 COVID-19 related pantry loading and the Truitt divesture that happened during fiscal 2021. We remain focused on mitigating supply chain, labor and inflation related impacts.” - Paul Palmby, CEO

Nov. 12, 2021 | Earnings Reports

Seneca Foods Reports Sales and Earnings for the Six Months Ended October 2, 2021

“We are pleased with the Company’s performance in the second quarter. A comparative perspective to the prior year remains a challenge given the 2020 COVID-19 pantry loading and the Truitt divestiture that happened in fiscal year 2021. However, as expected, our net sales performance has remained on level to pre-pandemic levels. Quarterly and year-to-date reported earnings were strong even considering a large LIFO charge that is being driven by higher input costs. ” - Paul Palmby, CEO

Aug. 11, 2021 | Earnings Reports

Seneca Foods Reports Results for the First Quarter of Fiscal 2022

"Overall, the first quarter of 2022 was as we expected. A comparison to prior year is difficult as COVID-driven panic buying commenced last year. However, for the first quarter of 2022 we achieved very respectable earnings per common share of $1.56. With the exception of last year, this is our highest first quarter earnings per common share in many years.” - Paul Palmby, CEO

Jun. 11, 2021 | Earnings Reports

Seneca Reports Results for the Quarter and Fiscal Year Ended March 31, 2020

“Fiscal 2021 was a year of contrasts. While increased pandemic demand for our products led to record financial performance, it was overshadowed by the suffering and loss from the virus by many of our employees, their families and our communities. Our results speak for themselves but it was the dedication and hard work of our plant employees who truly made the difference through these difficult times.” - Paul Palmby, Chief Executive Officer

Feb. 3, 2021 | Earnings Reports

Seneca Foods Reports Third Quarter Results for FY 2021

"Our results for the quarter reflect the gain on sale of our prepared foods business as well as continued strong sales in our core business. I remain humbled by the dedication of all of our loyal employees during the pandemic as we continue to help do our part in meeting customer needs with our products." - Paul Palmby, President and CEO

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